Financial Management::Manage Financial Transactions::Finalize Accounts

Finalize Accounts process involves finalizing all accounting activities for a specific period. Key steps include recording final transactions, reconciling accounts, reviewing and adjusting entries, preparing financial statements, closing temporary accounts, and obtaining necessary approvals. The main goals are to ensure financial accuracy, comply with regulations, measure performance, and prepare for the next accounting period.<br/>this process was renamed in 24.5 old name was Close the Books<br/>