You need to ensure the following as part of the ‘Pre-closing’ activities:
- Post all the Recurring Entries for expenses and accruals.
- Ensure that all the interfaced programs have been run so that the required data have been transferred to the system.
- Post all the depreciation, material receipts, invoices, salaries, etc. In short, ensure that all the transactions for the period in question have been duly recorded and posted into the system.