The December flux is done. The TB balances to zero in all three periods. Nothing was written to disk, and you gave no thresholds, so I judged materiality by eye.

I treated the P&L columns as year-to-date, because retained earnings is unchanged Nov to Dec and `dec_2024` is a full year. December activity is therefore Dec minus Nov. The 2024 net income of $493,339 ties exactly to the retained earnings roll, so the prior-year close looks clean.

**Needs a look**

1. **Goods received not invoiced (2050)** has a debit balance of $44,980. It is a credit-normal account and was a $18k credit in Nov, a $63k swing. Receipts were probably invoiced without clearing GRNI, or a receiving entry or reversal was posted twice. This is the highest priority.
2. **Sales tax payable (2150)** rose from $23k to $91.8k (+$68k, nearly 4x). Sales were not unusually high in December, so a November remittance or filing was likely missed or not booked. Confirm whether it was paid, and check the liability against the returns.
3. **Inventory (1200)** is up $210k in the month (+17%) and $313k on December 2024 (+28%), while sales are flat year over year. Cash is down $39k despite positive earnings. Check for cutoff problems, including the GRNI issue above, and for slow-moving stock, and check whether the $7.7k reserve addition is enough.
4. **Shrink (5050)** was $7.7k in December against about $1.9k a month earlier in the year. It equals the reserve addition exactly, so it looks like a true-up. Confirm it is supported by a count or an aging analysis.
5. **December sales** were $842k gross, about 11% below the $946k monthly average for Jan–Nov. That is soft for a December quarter-end. Check for revenue cutoff, and check whether returns of $15.5k are keeping pace.

**Smaller items**

- **Accruals:** Accrued freight is up 37% in the month and 46% on last year, against freight expense up only 8%. Accrued expenses are up 38%. Both need support.
- **Marketing (6200):** The year is down 28% ($131k to $94k), and December added only $6.6k. Check for unaccrued catalogue costs.
- **Term loan:** The $4k December payment went through the long-term account, and the current portion stayed at $48k. The year-end current/long-term reclass should be reviewed.
- **Bad debt (6640):** The $6.8k December charge raised the allowance 30% while AR fell. This is probably fine, but confirm it is supported by the AR aging.

**Tie-outs that look fine**

- CIP of $72.4k was cleared to furniture and equipment in full.
- Accumulated depreciation moved by exactly the December expense, and its full-year change equals the full-year expense.
- Prepaid insurance fell by the $3.6k insurance charge.
- Payroll, rent, IT, professional fees and COGS each moved about 6–9% in the month, in line with a normal month.

If you want, I can write this up as a flux workbook with explanations per account, or rerun it with a specific threshold such as 10% and $10k.