Month-end close
A close checklist and the accruals that trip people up.
The close is the short list of tasks that turns a month of transactions into numbers you can trust: reconciliations, accruals, adjustments and a review of the statements. Working through them in a fixed order keeps the figures tying out.
This section walks through the sequence and the accruals that catch people out. Treatment of individual items can depend on your accounting method and business structure, so confirm anything unusual with your CPA.