How are monthly closing of accounts done?

Question added by Deleted user
Date Posted: 2015/12/30

Upvote (0) Views (3) Followers (1) Answers (1) Report Question

by Muthuveeran Udayacchandramohan , Assistant Manager-Finance , VECV Lank Pvt Ltd. (A Volvo Group and Eicher Motors joint venture )

Record daily operational financial transactions,

Reconciliation of accounting system modules/subsidiary ledgers,

Record monthly journal entries / Provisions

Review of Revenue & Expense Accounts

Reconciliation of Balance Sheet Accounts

Prepare Financial Statements

Management review

Close accounting systems for the month

What steps should be kept in mind while monthly closing of company account?
Top Answer: Let your clients know that your practice is closing. Consider placing public notices in local publication ... See More

Answers (1)
How is a month closed in QuickBooks?
Top Answer: Part of the beauty of QuickBooks is that you don't have to close a month. If you have reconciled and wa ... See More

Answers (6)
What is the importance of the monthly closing process?
Top Answer: What is Important in a Monthly Closing Process? The goal of any organization should be the ability to pr ... See More

Answers (3)
What is Monthly close?
Top Answer: <p>Monthly close is related to prepare monthly Accounts Report . So need to close all ledger monthl ... See More

Answers (9)

Do you need help in adding the right keywords to your CV? Let our CV writing experts help you.