What Is a Dry Closing?

Also called "checkout". 1. Liquidation of accounts.

[jié zhàng] Right !

Also called "checkout". 1. Liquidation of accounts.

Refers to summary liquidation.

Chinese name

Checkout

Foreign name

Closing the accounts

Broadly

Summary liquidation

Pinyin

jie zhang

[Title] : checkout

[Pinyin]: jie zhang

[English] : Closing the accounts

1. Also referred to as "checkout". 1. Liquidation of accounts.

Ming Ruan's "Swallow's Note · Pseudo-Edition": "Look at how you check out, how you check out." Chapter 14 of Liu Qing's "Bronze Wall and Iron Wall": "Food is messed up, how can you check it out?"

2. Refers to summary liquidation.

Lu Xun's "Three Free Collections and Three Bandits": "But let it go, fortunately, it will always be settled when the trial begins." ^[1]

meaning:

The so-called settlement refers to the settlement of the accounts in accordance with the prescribed method at the end of the accounting period on the basis of all the economic transactions that have occurred during the period. The balances have become zero in order to calculate the net profit or loss for the next accounting period. The checkout process includes the process of preparing the closing entries, recording the closing entries in the journal, and posting.

Only income and expense accounts are relevant to the checkout process, and the checkout process is only applicable to temporary accounts (such as income, expense accounts, owner divestment accounts)