Define: Closing the Books

UK Accounting Glossary

Definition: Closing the Books


Quick Summary of Closing the Books


A term used to describe making the final entries, and balancing the profit and loss account at the end of the financial year.



Advertisement




Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/closing-the-books/
Modern Language Association (MLA):
Closing the Books. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. February 24, 2020 https://payrollheaven.com/define/closing-the-books/.
Chicago Manual of Style (CMS):
Closing the Books. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/closing-the-books/ (accessed: February 24, 2020).
American Psychological Association (APA):
Closing the Books. PayrollHeaven.com. Retrieved February 24, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/closing-the-books/

Definition Sources


Definitions for Closing the Books are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • BusinessDictionary.com
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 28th December 2018.