Preparing for year-end closing is one of most important task for finance organization. Here are few tips how to have a good closing:-
1) Engage in operation and understand the output – because this translates to sales.
2) Review expenses before system cut off and book accruals into sub-system.
3) Plan for all system cut off and manual journal entry.
4) Finally review trial balance and understand the change in YTD.But most importantly make sure all the staff is healthy and the timeline is meet.
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