A financial month end close is essentially a snapshot of all financial activity and transactions for the month. These include all bills and expenses paid, as well as all payments and income received for that month. Close the books with less runaround. Share this sheet with your accounting team to easily manage your financial month end process and keep everyone on schedule. Use the sheet for monthly, quarterly, and annual tasks. It is natural to assume that the intended audience of your financial close communication plan includes only the financial types: accountants, bookkeepers, treasurers, business unit heads, financial analysts, CFOs, controllers and others closely associated with the close process. While it is critical to include people in these roles in those communications, it could be fatal to a month-end close to include only these people. Accrual adjusting entries are needed monthly only if a company issues monthly financial statements. Two reasons for the monthly accrual adjusting entries are. Note that all details originating from MMP transactions have been condensed. The report will balance with the Banner form FRIGITD or Budget Queries for Fund Holders in Minerva.