The accounting process can differ slightly from one business to another based on variances in the chart of accounts, revenue and expense recognition, and cost center breakdown. Despite these differences, the overall monthly closing process is the same. Following the same standard procedures to close the books each month will help ensure consistent and accurate reporting.

Original Article Source Credits:   Chron , https://smallbusiness.chron.com/

Article Written By:  Tara Kimball

Original Article Posted on:  NA

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