closing entry meaning

  "closing entry" in a sentence
noun [C]

(Accounting )

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


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  1. briefly, closing entries transfer the revenue, expense, and owner withdrawal balances from their respective accounts to the capital account
  2. The other half of the entry, Closed Entry, finished third.
  3. `Close entry point'plan fails to take off, NEW STRAITS TIMES-
  4. Users can view transactions in general ledger format and perform closing entries if necessary.
  5. He also closed entry into Israel for all Palestinians through the seven days of Passover.

Related Words

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