closing entry meaning
a final amount that is written in an account at the end of an accounting period, before moving the balance to the account for the next period
- briefly, closing entries transfer the revenue, expense, and owner withdrawal balances from their respective accounts to the capital account
- The other half of the entry, Closed Entry, finished third.
- `Close entry point'plan fails to take off, NEW STRAITS TIMES-
- Users can view transactions in general ledger format and perform closing entries if necessary.
- He also closed entry into Israel for all Palestinians through the seven days of Passover.