Month End Procedures

Before You Start

Make a backup when you have done enough work that you don't wish to redo it, and ensure that at least the weekly one is kept off site. The daily backups should not be stored near the computers - hide them in another part of the office. Make sure no one is in ACCPAC while you are doing this backup, otherwise the backup will be incomplete.

Check data integrity to ensure your data is not corrupt - We suggest this be done on a daily basis after backing up. You must be the only one in ACCPAC at the time and you must be at the start list with no windows open (Ctrl C will start this program). This MUST be done at least once during your recycling of backup disks/tapes, otherwise a good backup could be overwritten by one that is corrupt.

Reconcile the subsidiary ledgers to their control accounts in the GL. Do this every month as shown on the attached pages for AR, AP, IC, JC & IR.

Do not purge the batch status reports until year end.

Month End routines are listed in the order in which they must be done. If they are done out of sequence, there may be serious consequences to your historical records. Please note that this is not necessarily a complete list of all your routines, but it does cover the basics.

Legend

Under each program, the sequential numbers on the left are line numbers for identification purposes only. The second set of numbers are the menu choices starting from the master menu - these numbers may also appear in brackets in the text.

$

Items are the minimum requirements required as part of day end processing. Do this regularly based on volume - it doesn't have to be done daily, but we suggest a minimum of once a week.

+

Items are normally done on an "as needed", basis.

#

Items are normally not done daily - set up your own routine for these - such as weekly, or monthly.

*

Items should be filed - attach a separate sheet to this page, indexed by these numbers, to show where filed, and the sequence within that binder.

For example:

Program & line #

Where Filed

Sequence of file

OE 4 Inventory audit

shelf in acct office

date, current on top

AR 2 Inventory posting journal

filing room

by #, current on top.

ORDER ENTRY 6.1B

1

$+*

1.1

Enter, post and print (1.5) invoices

2

+*

1.6

Enter, post and print (1.7) credit notes

3

$

- - -

Back up OE & IC - Note 1

4

$*

1.9

Do day-end (print invoice/credit .note audit list)

5

$*

2.5

Note 2 or Print QE CL transactions - consolidate

6

*

3.1.4

Print aged order summary and adjust as needed

7

*

3.2.4

Print tax summary - be sure to purge

ACCOUNTS RECEIVABLE 6.1A

1

$

3.1.2

Retrieve invoice batches (from OE, XS)

2

$

3.1.5

Post invoice batch(from OE, or recurring, or interest)

3

$*

3.1.6

Print invoice posting journal - Note 2

4

+

3.3.1

Enter and post (3.3.3) adjustments

5

+*

3.3.4

Print adjustment posting journal - Note 2

6

+

3.2.1

Enter and post (3.2.5) cash batch

7

+*

3.2.6

Print cash posting journal - Note 2

8

*

5.1

Create recurring batch, post (3.1.5)

9

*

5.2

Create statement interest batch, post (3.1.5)

10

$*

4.2

Note 3 -or Print AR GL transactions consolidate

11

#*

4.3.2

Print detailed aged trial balance and reconcile to GL.

12

#

- - -

Do a back-up - Note 1

13

#

5.6

Do Period end (which will purge paid invoices and transaction history files)

INVENTORY CONTROL 6.1B

1

+

3.1.2

Enter and post receipt of inventory items

2

+*

2.1.3

Print receipts audit list - (Clear)

3

+

3.3.1

Enter and post Adjustments

4

+*

3.3.2

Print adjustment audit list - (Clear)

5

$*

4.4

Note 3 -or Print IC GL transactions - consolidate

6

*

3.6.1

Print physical inventory count worksheet

7

3.62

Enter count differences

8

*

3.6.3

Print Inventory Reconciliation

9

3.6.4

Post Inventory Reconciliation

10

#*

4.1.2

Print item valuation and reconcile to GL control accounts

11

#

- - -

Do a backup - Note 1

12

#

5.2.1

Do period end processing

ACCOUNTS PAYABLE 6.1A

1

+

2.1.1

Enter and post (3.1.5) vendor's invoices

2

+*

3.1.6

Print invoice posting journal - Note 2

3

+*

3.2.1

Enter and post (3.2.3) adjustments

4

+*

3.2.4

Print adjustment posting journal Note 2

5

+

4.3.1

Print pre-cheque register

7

+

4.3.2

Print/post cheques - answer Y if printed OK

8

+*

4.3.3

Print cheque register - Note 2

9

+

4.1.1

Enter/print and post (4.1.4) Manual Cheques

10

+*

4.1.5

Print Manual Cheque register

11

#

4.5.1

Use reverse cheque & reconciliation and post (4.5.3)

12

#*

4.5.4

Print reverse cheque audit list - Note 2

13

#*

5.3

Note 3 Optionally print AP GL transaction - don't consolidate

14

#*

5.1.3

Print detailed overdue payables and reconcile to GL

15

#

- - -

Do a backup - Note 1

16

*

6.1

Do Period end (which will purge paid accounts)

GENERAL LEDGER 6.1A

1

$

3.1.2

Retrieve entries from each of OE, AR, IC, AP

2

+

3.1.1

Enter manual journal entries

3

+

3.1.4

optionally archive each batch under it's own number

4

+

3.3.1

Post batches to current year

5

+*

3.4

Print posting journal BY ACCOUNT - Notes 2 & 3

6

*

Reconcile all bank accounts and sub-ledger control accounts

7

*

5.3

Print general ledger listing for current month

8

*

4.1

Print financial statements for current month

NOTE 1

These backups can be part of your regular backup routine or they can be hard-disk backups done so that it easy to recover from problems occurring during the subsequent process. OE & IC should be backed up together because the day end process in OE changes both data bases - as well as creating a batch in AR (which can be cancelled if needed when you restore OE & IC).

NOTE 2

The Posting Journals in the 6.x programs do not have to be purged before further postings can take place. We suggest that no posting journals be purged until the year-end. This will ensure that you can print copies of the posting journals on demand. This will create progressively larger files to back up. If you must purge the journals please verify that hard copies are safely on file and/or that they have been printed to a file (at the same time as printed to the printer) for later potential retrieval via a word processor etc.

NOTE 3

GL 6.1A permits the printing of posting journals by account code as well as the old method of by batch entry. We suggest you consider doing all consolidations in the GL, where you can specify the consolidation option for each account. This will create much larger GL posting journals, but this will be offset by not printing and consolidating the GL transactions in the other modules (AR, AP, IC, OE). If you so chose, printing and consolidating can still be done in the other modules as was done in the past.

I.O.S. Consulting Group Inc., 7774 Wansford Drive, Delta, BC, V4C 7S9 (604) 878-0467 e-mail

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