After Month-End

1.  Make any required pre-closing journal entries to the period.   Generally adjustments done after month-end  should be for items such as depreciation, or they should be accrual entries that should not affect the sub-ledger reports that were run at the end of the month.  This ensures that you can balance the sub-ledger reports to the general ledger control account balances for the sub-ledgers.

2.  Close the period.  Once all transaction processing for the period has been completed (this may be immediately after changing the period or later based on what transactions need to be posted after the actual month is completed), you should close the period as described earlier in this document.


Year End Processing Checklist