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Month-End Close

The process of finalising and locking a period’s financial records.

Area
Accounting
Also known as
period close, financial close
In this area
51 terms of 259

Month-end close completes a sequence of steps: post accruals and prepayments, reconcile control accounts, value inventory, review variances, then lock the period so figures cannot shift after reporting.

Close speed is a proxy for data quality. Organisations that reconcile continuously close in days; those that reconcile only at month end spend weeks on it and report numbers nobody trusts.

See it in AWRA OpsHub

Accounting Controls

Related terms

Trial Balance

A listing of all account balances used to check the ledger is in balance.

Bank Reconciliation

Matching ledger cash records against the bank statement.

Accrued Expense

A cost incurred but not yet invoiced or paid.

Inventory Valuation

Assigning a monetary value to the stock you hold.

More in Accounting

Accounts Payable (AP) Accounts Receivable (AR) Accrual Accounting Aging Report Bad Debt Provision Balance Sheet Break-Even Point Budget Variance

Month-End Close is not just a definition here

Accounting runs on this vocabulary every day in AWRA OpsHub — 51 of our 259 glossary terms describe things the platform actually does.

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