Of the Month-end closing is a periodic accounting closing that is carried out at the end of each calendar month. It acts as a kind of "mini-annual financial statement" and is an indispensable tool for internal controlling and corporate management. Its primary purpose is to provide management with a reliable overview of the income and cost situation promptly, i.e. a few days after the end of the month. Typical activities include the posting of all business transactions, the accrual of expenses and income, the reconciliation of bank and cash accounts and the preparation of a business analysis (BWA). In contrast to the statutory annual financial statements, the monthly financial statements are primarily used to obtain information quickly in order to recognise target/actual deviations from the budget at an early stage and to be able to take corrective action. The underlying processes are very similar to those of the annual financial statements, which is why ERP systems can be used to analyse the periodic financial statements. Financial statements in SAP Business One greatly through automation. For detailed management reporting that goes beyond standard reports, add-ons such as the Versino Financial Suite provide special monthly dashboards and controlling analyses.
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