When you’re closing a company, you want to make sure that everything is in its right place. You check your finances and you pay any outstanding bills. You balance your books and you check that your bank accounts are in order. And if you’re closing a company, then these are the things that you do:
-Pay off any accrued expenses
-Make sure that any accrued revenue is recognized on the income statement
-Recognize any accrued expenses on the income statement