What must the general ledger do before any of the year end work can be completed?

Before any year-end work can be completed, the general ledger must be reconciled to ensure that all accounts are accurate and balanced. This includes verifying that all transactions have been recorded correctly, correcting any discrepancies, and ensuring that all journal entries are posted. Additionally, any necessary adjustments for accruals, deferrals, and inventory must be made to reflect the true financial position of the organization. Only after these steps can the year-end closing process begin.