Accounting Monthly Close Process is the systematic process of verifying, reconciling and reporting on financial transaction data in order to obtain accurate and reliable financial statements. It ensures proper recording of data, accuracy of numbers and compliance with applicable legal standards. The monthly close process also provides insights into a company’s performance over time by tracking trends in key financial performance indicators such as revenue and expenses. A thorough and well-executed accounting monthly close process can help an organization identify and address challenges quickly, resulting in improved efficiency and smarter decision making.