What is month-end close?

Month-end close is the process of reviewing, reconciling, and finalizing a business's financial records at the end of an accounting period. Completing the month-end close helps ensure financial statements are accurate and ready for reporting and analysis.

Example: At the end of the month, a business reconciles bank accounts, records adjusting entries, and reviews financial statements before closing the books.

Related terms: Continuous Close, Agentic Close, Reconciliation, Financial Statements