A closing entry is an accounting journal entry made at the end of an accounting period to reset temporary accounts, such as revenues and expenses, to zero. It helps prepare the financial statements and ensures that income and expenses are accurately reported in the next accounting period. Closing entries are essential for the accuracy and clarity of financial records.
Reimagine Your Order-To-Cash with AI
Touchless Receivables. Frictionless Payments.
Bringing the Trifecta Power - Automation, Analytics, AI
Recommended Digital Assets for You
Suggested Resources
Gaining Control on Global Credit And Collections with Dashboards and Analytics
Gaining Control on Cash Forecasting Using Predictive Analytics
Roadmap to the Future: Order-To-Cash for the Next Decade
Global Order-to-Cash: Learn how digital transformation changes your 3Ws – Work, Workforce and Working Capital Cycle
Add AI to Your Order-to-Cash Process
AR Automation for JD EDwards
AR Automation for SAP
AR Automation for Oracle
AR Automation for NetSuite
AR Automation for PeopleSoft
AR Automation for MS Dynamics
Emagia is a leading provider of AI-powered Order-to-Cash (O2C) automation platform that modernizes finance operations for midsize to large global businesses. Many global businesses and shared service centers use Emagia’s Enterprise Receivables Management System to transform to digital world-class operations in credit, invoicing and payments, receivables, collections, deductions, cash application and cash forecasting. Emagia solutions improve their customers DSO, cash flow, credit risk, operational cost, compliance and profitability.
