What is a close of accounts?

When the term "closure of accounts" is used, this means recording the accounting entries that will mark the final closing of an accounting period and the transition to the next financial year. That is, after presenting the annual accounts. So much for the purely accounting answer.

Does it ring a bell? This is normal, let us concentrates on the steps leading to the annual accounts and on the role played by the head of the company and his accountant (or chief financial officer).

A short reminder for those who were not very attentive to the last presentation of their annual accounts, the latter are made up of the income statement, the balance sheet and the appendices.

After having ascertained that he is in possession of the information required for the preparation of the annual accounts, the public accountant will record "inventory" entries, thus accounting for the attachment of expenses and revenues to the “Accounting year.

Do you remember your accountant's requests for missing proof of insurance as the closing date for the accounts closes? You did not ask a question when he asked you for the January N-1 electricity bill, as well as a package of other evidence that you had forgotten. We reveal it to you exclusively: this is used to allocate each charge to the right exercise and for the right amount.