It all changed with
Len Weedman
Controller
Closing the books to me is an official term that we accountants
like to use to describe the month/quarter-end process. But, if you
are making sure your entries are booked every day (e.g. cash is
reconciled, revenue and known expenses are accrued) you could
argue that your books are closed every day. This allows you to
have continuous, consolidated reports that are always live.
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