What is typically balanced during the Close Batch process?

During the Close Batch process, one of the primary objectives is to balance the financial data for the establishment. This entails reconciling all transactions made within a specific time frame, typically within a day, and ensuring that all sales, returns, and payment methods are appropriately accounted for.

Balancing financial data allows businesses to ensure accuracy in reporting revenue and expenses, which is crucial for financial statements, cash flow management, and overall financial health. This process consolidates transactions to verify that the total amount processed matches what has been recorded in the financial system, thereby preventing discrepancies that could lead to financial inaccuracies.

When financial data is balanced correctly, it strengthens the integrity of the business's financial reports, enhancing both internal decision-making and external stakeholder confidence.