Translation

Ok, so Roger informs me that I need to translate the accounting language in my last post into English. I'll do my best. "Closing" is basically when the Controller pushes a button that makes it so no one can enter things into a specific month. Here is a simplified description of a month in accounting that might help.

As soon as the month ends on the calendar, Accounts Payable (AP), Accounts Receivable (AR), and Payroll can technically still enter things for the past month. For the first few days of the month, the Controller leaves those modules open, so AP, AR, and Payroll can enter any last minute things that belong in the past month into the correct month. When they get everything entered, the Controller "closes" the modules.

But the staff accountants can still enter journal entries that affect the past month. So we run reports that tell us what happened in each individual account, decide if it really belonged there, and make adjustments using journal entries to fix things that were entered incorrectly. After the staff accountants have looked at all the accounts (or at least all the major ones), the Controller "closes" the month, so nothing can be changed for that month.

And then he pulls the financial statements which are basically a summary of everything that happened in the month. Our lendors require us to give them our financial statements within a month. So for example, we had to give them the July financial statements by August 31st. (Well, it was technically the 29th for August because the 31st is a Sunday, but you get the idea.)

So yeah, that's basically what I do every month. And yes, I am a nerd. But at least I'm a cute nerd, right?