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In this tutorial, Thomas Harwood from The Accounting Student explains the process of closing a T account. Balancing off accounts is a common practice for businesses to determine how much they have or owe. This process is typically done on a weekly or monthly basis, with larger companies balancing their accounts more frequently. Public limited companies often balance their accounts daily. Closing a T account involves obtaining a balance for the account. To learn more about T accounts and how to open them, you can refer to the provided links.