Year-end closing

Year-end closing,

Definition of Year-end closing:

  1. An accounting procedure undertaken at the end of the year to close out business from the previous year, carry forward balances from the previous year, and open posting accounts for the upcoming year. Year-end closing is part of a companys closing operations, and is used to create a companys financial statements. See also month-end closing, day-end closing.

Meaning of Year-end closing & Year-end closing Definition