Month-End Tie-Out Checklist for Excel Schedules

Updated October 12, 2026

A tie-out proves that a number in one place agrees with the same number somewhere else. During close, the same tie-outs are performed by hand every month — on every version of every schedule. They are worth writing down once and automating.

The core tie-outs

1. Schedules foot. The detail in a schedule adds up to its total. Inserted rows outside a SUM range are the usual reason this fails.

2. Schedules agree with the trial balance. Each balance sheet reconciliation, roll-forward and accrual schedule ends at the balance in the TB.

3. Roll-forwards roll. Opening balance + movements = closing balance, and this month’s opening equals last month’s closing.

4. The reporting pack agrees with the ledger. Every figure in the management or board pack ties to the TB or a supporting schedule.

5. Cross-sheet references are formulas. Key figures should be linked, not typed — a typed number will not update when the source changes.

6. Required inputs are present. Preparer, reviewer, dates and supporting references are filled.

Writing tie-outs as rules

Each tie-out above can be expressed as a simple rule:

Tie-out	Rule
Schedule foots	Detail!D5:D40 sums to Detail!D41
Agrees with TB	Accruals!F30 equals [tb.xlsx]TB!C112
Credit stored negative	Compare absolute values (ignore sign)
Linked, not typed	Pack!C12 is a formula containing TB!
Inputs present	Cover!C4:C8 is not blank

Set a small tolerance (for example 0.01 or 1) for rounding.

Running them on every version

The DraftReview reconciliation checker takes one or more workbooks and a list of rules, and reports each rule as passed or failed with the calculated amount, the reported amount and the difference. Files are processed in your browser and never uploaded.

Two practical notes:

• Values are read as last calculated by Excel. If a file was produced by a script and never opened in Excel, open and save it first.
• Refer to other files as [file.xlsx]Sheet!A1. References without a file name use the first workbook.

Make it part of sign-off

Run the rules before review, attach the result to the schedule, and re-run them on the final version. Reviewers then spend their time on the judgement areas — estimates, cut-off, unusual movements — rather than re-footing columns.