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Monthly closing of books of accounts

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(Querist)
03 November 2022 can someone please guide how to do monthly closing of books of accounts? In our org annual closing only is there so i have no idea of monthly closing..
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
03 November 2022 In the monthly closing process, all daily sub-processes - sales invoicing, sales ledger, purchase ledger, inventory transactions, changes in fixed assets - are recorded as soon as they occur before the last day of the month.
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CA Parul Saxena

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CA Parul Saxena (Querist)
04 November 2022 Suppose oct 2022 month end close to be completed by which date? WHether Balance sheet and P/L are part of month end closing process?
And how to ensure that all the entries have been recorded for a particular month? whether confirmation from the respective department is supposed to be sought?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
04 November 2022 It should be on 31st October.
Yes BS and p and l part of month end closing.
Yes get it confirmed.
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