oboloo Glossary

Month-End Close Process

oboloo Glossary

Month-End Close Process

The Month-End Close Process is an essential part of every business’ accounting process. This process is designed to ensure that the financial accounts are accurately reflected, and all data is properly recorded so that all stakeholders have access to accurate and up-to-date information. It includes activities such as reconciling account balances, preparing journal entries, closing out accounts, and more. With the Month-End Close Process, businesses are able to make sound financial decisions with confidence and ease.