Asset subledger
Reconciled
$9.84M
Net book value after proposed adjustments
Staff accounting case · April 2026 close
Turn operating records into a clean month-end close.
Reconcile cash, accounts payable, and fixed assets; investigate exceptions; prepare adjusting entries; explain P&L variances; and deliver a management-ready close package.
01 Cash & AP tie-outs
02 Accrual & prepaid review
03 Fixed-asset accounting
04 Variance explanations
Interactive close binder
April close workspace
Close review in progress
Open exceptions
Review
6
5 accounting · 1 control
Gross corrections
Proposed
$154.6K
Absolute value of adjusting items
Pre-tax income impact
If posted
+$60.1K
Net improvement to April operating result
Capital plan
Budget vs. forecast
Approved budget
Current forecast
Close risk
Exception profile
6
3 High priority
2 Medium priority
1 Control follow-up
Fixed assets
Subledger reconciliation
General ledger balance
$9,823,410
Net proposed asset adjustments
+$17,250
Adjusted subledger balance
$9,840,660
Prepared from the asset register, disposal log, invoice detail, and April depreciation workpaper.
Close workflow
Review progress
- 1Import and validate source records
- 2Reconcile cash, AP, and fixed assets
- 3Prepare and post adjusting entries
- 4Explain variances and issue close memo
Prepared by
Staff Accountant
Reviewer
Controller
Due
Close Day 4
WP-CASH-01
Operating cash
- Bank statement
- $2,196,870
- Deposits in transit
- +$15,400
- Outstanding checks
- −$27,950
- Adjusted bank / GL
- $2,184,320
WP-AP-01
Accounts payable
- AP general ledger
- $1,479,010
- Vendor subledger
- $1,436,210
- Unadjusted difference
- $42,800
WP-FA-01
Fixed assets
- General ledger
- $9,823,410
- Net proposed adjustments
- +$17,250
- Adjusted subledger
- $9,840,660
WP-SCH-01
Accruals & prepaids
- Recurring accruals
- $186,400
- Prepaid additions
- +$48,000
- April amortization
- −$37,250
- Ending prepaid balance
- $423,350
WP-PL-01
Expense flux analysis
Net pre-tax correction
+$60,050
| Account | Unadjusted | Close entries | Adjusted | Budget | Variance | Explanation |
|---|---|---|---|---|---|---|
| Repairs & maintenance | $318,400 | −$107,300 | $211,100 | $240,000 | $28,900 F | Duplicate invoice removed; qualifying access project capitalized. |
| Depreciation | $284,750 | +$28,650 | $313,400 | $305,000 | $8,400 U | March additions and corrected security-equipment life. |
| Loss on disposal | $0 | +$18,600 | $18,600 | $0 | $18,600 U | Remaining book value of retired laundry equipment. |
| Asset ID | Description | Property | Placed in service | Cost | Net book value | Status |
|---|
Representative records are shown. The simulated source population contains 1,284 assets across 16 properties.
Five entries correct the accounting exceptions. The sixth item is a capital-approval control issue and does not require an April journal entry.
Net pre-tax income effect
+$60,050
Practice-first work sample
Start with evidence. Then prove the close.
Employers can review the same path I used: raw bank, ledger, vendor, invoice, asset, and policy records first; a blank investigation log second; and the completed close binder only after the accounting judgment is documented.
Start here
Review the raw source evidence.
Work through 14 Excel sheets covering the trial balance, bank and cash activity, AP records, invoice detail, fixed assets, depreciation, prepaids, accruals, and accounting policy.
Download the source evidence pack Neutral review flags · Blank investigation log · No completed entriesDo the work
Write your own conclusion.
For each problem area, identify the records compared, calculate the difference, request any missing support, classify the cause, and decide whether a journal entry is required.
- Evidence compared
- Amount and possible cause
- Entry decision and proposed accounts
Then compare
Open the completed reviewer file.
Trace the researched exceptions through reconciliations, adjusting entries, the adjusted trial balance, financial statements, variance analysis, and final control checks.
Download the completed binder Use this as the answer key after completing your investigation log
XLSX
Month-End
April 2026 · Synthetic portfolio case
CapitalOps
Month-End
Close Binder
April 2026 · Synthetic portfolio case
Completed reviewer file
One file. Eleven connected workpapers.
- 01 Compare the completed conclusions with your investigation log.
- 02 Trace bank and AP differences back to the source evidence.
- 03 Follow five entries into the adjusted trial balance.
- 04 Review financial statements and the income bridge.
- 05 Finish with eight automated PASS checks.
Download the Excel binder
No macros · No external links · Formulas visible
Evidence room
Individual source extracts
CSV · 24 accounts
Raw general ledger
Balanced unadjusted trial balance
CSV · 6 items
Bank activity
Statement and clearing activity for cash review
CSV · 4 records
AP subledger
Vendor-level balances and invoice references
CSV · 3 schedules
Prepaid roll-forward
Additions, amortization, and ending balances
CSV · 4 classes
Fixed-asset support
Register activity and depreciation support
Staff accountant workflow
Reconcile first. Explain the number.
The case follows the recurring close cycle from source records to tied-out balances, posted entries, variance explanations, and review.
Organize
Import the trial balance and subledgers, confirm the reporting period, and sequence eight close responsibilities by due date.
Reconcile
Tie cash to the bank statement, AP to vendor detail, and fixed assets to the roll-forward before accepting the ledger balances.
Adjust
Research differences, document support, prepare balanced entries, and route unusual items to the controller for approval.
Explain
Compare adjusted expenses with budget and translate the close into clear explanations for the controller and management.
Case policy
What governs the accounting
- Capitalize property improvements of $5,000 or more that extend useful life or increase service capacity.
- Remove disposed assets from the subledger when control transfers and recognize any remaining net book value.
- Record depreciation monthly beginning when an asset is placed in service.
- Require finance and executive approval for capital commitments above $1 million.
Portfolio disclosure
A realistic simulation—not employer or client data.
Crescent Ridge Housing is fictional. All names, amounts, records, and conclusions were created for this portfolio case. The project is designed to demonstrate month-end close discipline, account reconciliation, journal-entry preparation, accounting judgment, operational awareness, and management communication.