Closing procedures refer to the steps taken to finalize a business day or transaction. This typically includes reconciling cash registers, ensuring all sales are recorded, and preparing financial reports. Employees may also need to secure the premises, lock up inventory, and complete any necessary paperwork. In the context of real estate, closing procedures involve the final steps in a property transaction. This includes signing legal documents, transferring ownership, and disbursing funds. Key participants in this process may include the buyer, seller, real estate agent, and title company, all working together to ensure a smooth transfer of property.