Closing Stage Accounting cycle Trading Company

With the completion of the preparation of financial statements, it does not mean the process
accounting has ended. There are still stages to be done
before the accounting activities of a merchandiser at one period are stated
done. The adjustment journal you have created is then posted
(moved) to the appropriate ledger. Before closing
ledger first arrange the closing journal and posted also to
appropriate ledger. Then just close the book on
end of period. Well, with this time learning is expected you can
understand the trading company's accounting cycle at the closing stage.
In principle how to make a closing journal for
trading companies are no different from making a journal
cover on service companies. At the end of the period, the balance for
estimated / temporary accounts (estimated revenue, expenses, and
Prive) should be moved to a fixed estimate, or closed
with the preparation of closing entries.
So the closing journal is the journal to move
the temporary forecast balance to the forecast remains at the end of the period
accounting. The goal is to set up all balances
temporary estimates, then moved to forecast
capital (for an individual company or partnership) or
to the forecast of retained earnings (for company /
PT). Meanwhile, the data source for journal preparation
the cover comes from the work sheet / work sheet on the profit column
loss and balance sheet for a prive or dividend account.