By adding a month-end field/column for each transaction, it will help to allocate the transaction to a specific month end. It is the same logic as the tax point date. We can not change the tax point date, but adding this field it will give us the freedom to select the month it actually relates too. This will help with the month end reporting, where reports can be created based on the month-end field, and it will automatically create the temporary entry of Accrual, Prepayments etc and give us the same results as current manual month end process. It wastes so much of time manually inputting in these entries at the month end and then reversing them again.  

Where the transaction relates to more than one month, there should be an option under month-end filed to distribute x amount for x number of the month, just for month end process. 

It may look like not too clear, but I am sure something along this line can be worked on. It will be a lot of work to get this done, but it will ease the process for the future. In today's world, month end adjustments can be automatically rather than manual.