Knowing how to manage your accounts is essential to ensuring the financial health of your business. To have control over your cash flow, it is important to think about activities that help with the analysis of this data , such as the monthly closing.
Through this resource, it will be possible to evaluate the company’s operations and, thus, identify problems with payment, receipt , tax, fiscal operations, etc.
In this article, we will show you how to do the monthly closing and what advantages this can bring to the company . Follow along!
Browse the content
What is monthly closing?
Monthly closing is a business poland whatsapp number data that is usually carried out at the beginning of each month. The purpose of this activity is to record the company’s financial transactions during that period.
In this case, documents such as invoices, bank statements, contracts, receipts, etc. are analyzed. By organizing this data, it is possible to obtain important information about the business’s performance, identifying its real problems.
What information should be included in the monthly closing?
In practice, the monthly closing is usually with a person to whom you owe something out by the finance department, together with the accountant. The monthly closing procedure may vary from one company to another , but generally, it requires the organization of the following information:
Labor movement
Any financial information related to b2b phone list or partner contracts must be included in the monthly closing. The more complete your report, the more efficient your business development analysis will be.
Therefore, try to include important data such as:
- Salaries and Social Charges: Check that all salaries have been correctly processed, including discounts, benefits and social charges;
- Overtime and Additional Hours: Record overtime, night shifts or other extra payments;
- Vacations and Benefits: Ensure that vacation and benefit periods have been properly recorded and reflected in costs;
- Contract Terminations: Consider costs associated with contract terminations, if any.
