When it comes to end of month accounting, the aim is to streamline your process to make closing your books a hassle free as possible. Read on for our tips.
Streamlining your process (and putting a process in place in to begin with), will help you to increase efficiency, so you can get tasks completed more quickly.
You should be aiming for a balance of speed and accuracy, so it's important that you are able to quickly draw on the data that you need, and that you can trust the accuracy of that data. The more accurate your monthly figures, the less headaches you'll have come the financial year-end.
Month End Accounting Tips
Ensure that your closing process is
fully documented, this will allow the same process to be followed each month
Make sure that you closing calendar is planned in advance and
Add departmental deadlines to your closing calendar
Make pre close checks