Month End

Month end, in general terms, means the last day of the calendar month.  In bookkeeping and accounting, month end brings with it the need to close the month/period, which usually happens a few days after the last day of the month.  What does closing the month do?  It...

Financial Management: Chart of Accounts

As a do-bookkeeping-yourself (DBY) Small or Medium sized Enterprise – SME, do you have a chart of accounts (CoA)?   Do you record your income and expenditure based on your CoA) or only maintain a list of expenditure?  Chart of Accounts – what is this?  When thinking...