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Month End Closing Processes Form

Month End Closing Processes Form

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Hey guys my name is James and in this quick video  i'm going to show you how to post closing entries   in two different ways a long way and a short way  a lot of you have been asking for this one so thanks for all your requests and an extra special thanks to my channel members your contributions helped me make this so without further ado let's begin this is the accounting cycle it shows  us how financial accounting works in eight steps closing entries are tucked away at the very  end of the cycle in step 8 we post them at the end of each accounting period after  we're done creating financial statements but what are they exactly? closing entries are journal entries that reset temporary accounts to zero they transfer their balances into retained  earnings which is a permanent account held in a balance sheet remember a journal entry is a record  of a financial transaction and retained earnings are a businesses profits held for future use  but what are

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