Steps:	
	transaction (e.g. sale) is recorded in day book (i.e. diary of sales durign the day) => EPOS: 
	"from day book at the end of the day transactions are allocated to individual subledger accounts. Subledger accounts can be created for: for each customer (category of customers), for each channel, for each product (category of products), for each department etc."
	"from subledger accounts transactions at aggergated amounts are recorded into general ledger account (sales control account aka account receivable). It can be done on daily, weekly or monthly basis. When it is done on monthly basis it is known as 'period close' or 'month-end'."
	from general ledger transactions at aggregated amounts are recorded into financial statements. This is done on monthly basis and is part of period close (aka month-end)