About Lesson
Accounting
What does the monthly accounting close mean?
The company compares its collections on a month-to-month basis.
The monthly accounting close is the period that these collections take place.
Property collections are how much money each property has collected individually and as well as a company.
The dates are the same every month this way the comparison can be as accurate as possible.
When are the monthly collection opening and closing dates?
- The 27th (midnight) – Opening Date
- The 26th (11:59 pm) – Closing Date