Monthly closing of books of accounts
This query is : Resolved
03 November 2022
can someone please guide how to do monthly closing of books of accounts? In our org annual closing only is there so i have no idea of monthly closing..
03 November 2022
In the monthly closing process, all daily sub-processes - sales invoicing, sales ledger, purchase ledger, inventory transactions, changes in fixed assets - are recorded as soon as they occur before the last day of the month.
04 November 2022
Suppose oct 2022 month end close to be completed by which date? WHether Balance sheet and P/L are part of month end closing process?
And how to ensure that all the entries have been recorded for a particular month? whether confirmation from the respective department is supposed to be sought?
And how to ensure that all the entries have been recorded for a particular month? whether confirmation from the respective department is supposed to be sought?
04 November 2022
It should be on 31st October.
Yes BS and p and l part of month end closing.
Yes get it confirmed.
Yes BS and p and l part of month end closing.
Yes get it confirmed.
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