Expert
What is a month-end close?
And why disciplined closing matters.
The month-end close
Closing the month means finalising your books so the figures for that period can be trusted and never quietly change. It is the discipline that turns bookkeeping into reliable management information.
A simple close checklist
- Reconcile every bank and cash account
- Chase and record outstanding invoices and bills
- Post accruals and prepayments
- Review the P&L and balance sheet for anything odd
- Lock the period so it cannot be edited
AccountMi lets you lock a period once it is closed, so historical reports stay consistent.
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