Accruals
To ensure a timely close of the General Ledger, the firm may book accrual entries both for its own operations and those of its clients. Some accruals will be made as recurring entries.
Accruals to consider:
1.
Monthly interest earned
on money market accounts, certificates of deposits, etc.
2.
Recurring expenses,
including employee vacation accrual, prepaid corporate insurance, depreciation,
etc.
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