The need to close out the financial books and records correctly and consistently each day and at the end of each month is an essential but often neglected principle of office management. This is a crucial internal management system for ensuring the accuracy of the practice's books and for detecting embezzlement. Painstaking attention to detail is needed to avoid costly mistakes. An overview of the proper procedures for closing out the books was presented. The office must close out its daysheet or files at the end of each day. In offices with pegboard systems, all entries must be totaled and the balances must be brought forward for monthly and year-to-date totals. All daily charges and payments must be posted before the daysheet is totaled.
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