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- Lease Accounting
- Lease Accounting Reporting
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Getting Started
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Lease Administration
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Lease Accounting
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Transaction Management
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Broker Deals CRM
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Monthly Release Notes
What is Closing the Books?
In accounting, the word “books” refers a company’s record of financial transactions. The term “closing the books” refers to an accounting procedure that happens at the end of each month or designated company period, and at the end of each year.
Financial transactions today are typically recorded in accounting software, but years ago they were recorded in accounting books. The “closing the books” procedure helps ensure that the data entered into the accounting records are accurate so financial reports can be created and finalized.
For information on how to close books in Occupier, refer to the article here.
*We DO NOT recommend closing the books until you have had a few successful closes with Occupier. This way, if there were errors made during the initial process, you can more easily correct these errors*