1 the total amount of money that a company pays to its employees. 2  a company's records of its employees' salaries and wages, bonuses, and withheld taxes. 3  the company's department that calculates and pays these. the total amount of money that a company pays to its employees. 2  a company's records of its employees' salaries and wages, bonuses, and withheld taxes. 3  the company's department that calculates and pays these.
Closing entries are needed to clear out your revenue and expense accounts as you start the beginning of a new accounting period. Preparing your closing entries is a very simple, mechanical process. Follow these steps: 1  Close the revenue accounts. 2  Prepare one journal entry that debits all the revenue accounts.
Our checklist and interactive sample Closing Disclosure form will help you close with confidence. Closing is when you legally commit to your mortgage loan. Our tools help you review your documents in advance to check for errors and make sure the documents reflect the terms you agreed to. What to do now 1. Review your Closing Disclosure. Itâs important to review your Closing Disclosure before closing. Make sure everything is as you expect in advance, while you still have time to ask questions and correct any errors. Review our interactive sample Closing Disclosure. 2. Get ready for closing