How to Record the Transactions That Might Occur While Balancing the Books. Why No Entry Should be Changed or Made During That Time in the Old Books.

After you have ascertained that the entries in all the books are correct, see that no new entry is made in the old books of original entry, the Memorandum and the Journal, or postings to the Ledger. This is because the closing is assumed to be accomplished on the same day. Should some transactions occur while the books are being balanced and closed, enter them in the new books of original entry. However, do not post them to the Ledger until the balances from the old Ledger have been carried forward.