Every month, businesses must finish their books – and that requires a monthly closing. As part of this process, all processes need to be reconciled and recorded accurately so companies can have meaningful insights into their finances. This includes verification of transactions, bank reconciliations, income statements, and balance sheets. The monthly closing is an essential financial task that helps ensure businesses stay financially stable over time. It’s also the perfect chance for any business to make adjustments to future strategies in order to maximize profits. If done right, the monthly close can help promote long-term success.