What to take note of before closing accounting period?

[joshlabtech]

Hi community,

I hope I'm asking the right place, may I ask what should we take note of before we do closing for Accounting Periods?

Thank you!

 

[kirby]

One thing I suggest is to run a report from the gl system that shows an income statement for the month to be closed in one column and the last 5 or so recent closed months in other columns. That way you can look for unusual fluctuations.
Same process for the balance sheet.