What is ‘Pre-closing’?

You need to ensure the following as part of the ‘Pre-closing’ activities:

  1. Post all the Recurring Entries for expenses and accruals.
  2. Ensure that all the interfaced programs have been run so that the required data have been transferred to the system.
  3. 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.

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