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close-management

Office & productivity

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Updated 10-15 21:03

About this skill

Close Management

Overview

It systematically supports monthly, quarterly, and annual accounting closing tasks. It provides step-by-step guidance from creating a closing checklist, the order of closing tasks by account, settlement of the four major insurances and payroll, closing journal entries under K-IFRS, to preparing closing reports. It reflects the latest 2026 four major insurance rates, minimum wage, and labor law changes.

Disclaimer: This skill is AI-assisted analysis and does not replace professional advice from a certified public accountant or tax accountant.

Trigger Keywords

closing, month-end close, quarterly closing, annual closing, accounting close, payroll settlement, four major insurances, financial close, closing, closing checklist

Workflow

Step 1: Select Closing Type

  • Monthly Closing (last day of each month)
  • Quarterly Closing (3, 6, 9, 12월)
  • Semi-Annual Closing (June, December) — mandatory for listed companies
  • Annual Closing (December) — linked to corporate tax filing

Step 2: Check the Latest 2026 Standards

2026 Minimum Wage and Four Major Insurance Rates

For the 2026 minimum wage and four major insurance rate table, moai-finance:tax-helper refer to the single SSOT at references/2026-rates.md.

Key 2026 Changes:

  • National Pension: first rate increase since 1998 (9% → 9.5%)
  • Expansion of employment insurance coverage: scheduled to expand to platform workers and freelancers
  • Yellow Envelope Act takes effect (2026.3.10.): expanded bargaining rights for subcontract workers → risk for prime contractor employers

Step 3: Monthly Closing Checklist

Week 1 (Days 1-7): Close Previous Month's Transactions

  • Confirm previous month's sales slips (verify tax invoice issuance)
  • Verify receipt of purchase tax invoices and process accounting
  • Reconcile card sales/expenses
  • Collect and approve expense reports

Week 2 (Days 8-15): Payroll Settlement

  • Prepare payroll ledger (verify minimum wage compliance)
  • Calculate four major insurance deductions (apply 2026 rates)
  • Withhold income tax and local income tax
  • Transfer payroll and issue pay statements
  • File four major insurance reports (EDI or Four Major Insurance Information Link Center)

Week 3 (Days 15-20): Account Closing

  • Record depreciation expense
  • Adjust prepaid expenses and accrued expenses
  • Physical inventory count (if necessary)
  • Review accounts receivable and accounts payable balances
  • Translate foreign currency assets and liabilities (apply month-end standard exchange rate)

Week 4 (Days 20-End of Month): Closing Report

  • Review trial balance and correct errors
  • Prepare draft income statement
  • Analyze changes in key indicators compared with the previous month
  • Preparing a closing summary for management reporting

Step 4: Additional year-end closing tasks

Corporate tax filing preparation (for December year-end corporations: by March 31 of the following year)

  • Review tax adjustment items (entertainment expense limit, depreciation method, etc.)
  • Review utilization of carryforward losses
  • Confirm research and personnel development expense tax credit

Payroll year-end settlement (during January)

  • Collect employee year-end settlement documents
  • Confirm income deduction and tax credit items
  • Issue withholding tax receipts (by end of February)

Review early adoption of K-IFRS No. 1118 (2026)

  • Prepare classification of income statement into 5 categories
  • Decide whether to disclose MPM

Step 5: Generate closing report

# [YYYY년 MM월] 결산 보고서

## 손익 요약
- 매출액: xxx원 (전월 대비 ▲▼ xx%)
- 영업이익: xxx원 (영업이익률 xx%)
- 당기순이익: xxx원

## 주요 비용 분석

## 4대보험 납부 현황

## 다음 달 주요 일정

Usage examples

Example 1: "Create a March month-end closing checklist" → Confirm closing type → Weekly tasks → Apply 4 major insurance rates → Generate checklist

Example 2: "Tell me how to settle payroll for our company in 2026. We have 5 employees" → Payroll ledger format → 4 major insurance calculation → Withholding → Filing procedure

Example 3: "Draft an annual closing report" → Year-over-year analysis → Key indicators → Management summary → Improvement recommendations

Deliverables

  • Monthly/quarterly/annual closing checklist
  • Payroll ledger and 4 major insurance calculation details
  • Closing report (including management summary)
  • Tax filing schedule calendar

Precautions

Disclaimer: This is AI-assisted analysis and does not replace professional advice from a certified public accountant or tax accountant.

Major filing schedule (based on December year-end corporate tax)

월 Filing and payment items
1월 VAT filing (2nd period final), year-end settlement
2월 Year-end settlement refund/additional payment, submission of payment statements
3월 Corporate tax filing and payment (by March 31)
4월 VAT preliminary filing (1st period)
7월 VAT filing (1st period final)
8월 Corporate tax interim prepayment (by August 31)
10월 VAT preliminary filing (2nd period)

4 major insurance filing deadlines

  • Acquisition/loss filing: within 14 days from the date the reason occurs
  • Total remuneration filing: by March 15 each year
  • Monthly insurance premium payment: by the 10th of each month

Troubleshooting

  • Unable to confirm tax rate/rate changes: Check the latest rates directly on the National Tax Service (nts.go.kr) or the 4 Major Insurance Information Link Center (4insure.or.kr). Figures provided by AI are for reference only, and official notices must be checked when actually filing.
  • Past accounting data not provided: Without financial data from previous periods, year-over-year analysis is not possible. Please provide the income statement and general ledger for the analysis period.
  • ERP integration error: If you directly paste CSV/Excel files exported from ERP such as SAP, Douzone, or iCUBE, closing checklist automation is possible.
  • Foreign currency translation reference date mismatch: Please check the month-end official exchange rate from the Bank of Korea base rate (ecos.bok.or.kr) and enter it.

Related skills

  • moai-finance:financial-statements: K-IFRS financial statement preparation
  • moai-finance:variance-analysis: Budget vs. actual analysis
  • moai-finance:tax-helper: Tax filing, HomeTax guide

Post-processing chain (narrative deliverables such as closing reports and executive summaries)

After writing sentence-based deliverables such as closing reports, executive summaries, and expense analysis comments, always finish with the chain below.

close-management → moai-core:ai-slop-reviewer → moai-content:humanize-korean
  • moai-core:ai-slop-reviewer: Review and revise AI-sounding expressions, exaggeration, and clichés
  • moai-content:humanize-korean: Korean naturalness correction (limited to narrative deliverables)

Table and numeric deliverables such as payroll ledgers, the four major social insurance calculation details, and tax schedule calendars are not subject to the chain, and if Excel conversion is needed, moai-office:xlsx-creatorroute to.

When not to use this skill

  • Actual tax filing and payment: Do not submit an AI-written closing draft directly to the tax office. Request a review from a tax accountant.
  • Official preparation of financial statements: If financial statements for external audit or disclosure are needed, moai-finance:financial-statements use the skill together with a certified public accountant's review.
  • Budget vs. actual analysis: For strategic cost and revenue variance analysis, moai-finance:variance-analysis the skill is more suitable.
  • Tax consultation: For consultation on how to file comprehensive income tax and value-added tax, moai-finance:tax-helper use the skill.