Month End Procedures

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Alicia
Alicia Registered Posts: 40 Regular contributor ⭐
in General accounting discussion
Hi Everyone

I'd be grateful if anyone could advise what month end procedures involve and what information is provided in these procedures.

I am using Sage Software where i am currently employed and run the month end option and that is it.

Many thanks in advance for your assistance.

Alicia

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  • crispy
    crispy Registered Posts: 466 Dedicated contributor 🦉
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    Hello,

    Month end procedures would normally involve things like Sales/Purchase ledger control account reconciliations, as well as other reconciliations for Bank Accounts. Stock, Fixed Assets, PAYE/NI etc...- basically proving out your month end Balance sheet figures. You may also be calcluating month end prepayments/accruals and producing Monthly Managment Accounts depending on size of the company and information requirement of management.

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