The SMB Owner’s Guide to Closing Your Books

Closing the books is a systematic way of completing the accounting for a period of time. After the books are closed, financial statements and other reports can be distributed and used. Typically a company’s books are closed on a monthly basis though there may be additional activities conducted on a quarterly or annual frequency. Consistently closing the books each month allows you to:

  • Be confident that your accounting is kept in order
  • Produce accurate financial statements and other reports
  • Access timely information you can use to make business decisions