Module 19: Month-end close and closing entries
The close checklist, closing entries, and the post-closing trial balance.
1. The month-end close checklist
A practical close checklist: reconcile, adjust, review, report, close.
About 8 minutes · 3 practice sets · Pro practice
2. Closing entries
Close revenue, expenses, and drawings through Income Summary into Owner Capital.
About 8 minutes · 4 practice sets · Pro practice
3. The post-closing trial balance
Verify that only permanent accounts remain and that the books balance after closing.
About 8 minutes · 3 practice sets · Pro practice
4. Controls and correcting closed periods
Basic controls — segregation, approvals, period locks — and how to correct errors found after close.
About 8 minutes · 3 practice sets · Pro practice