Difference between revisions of "What should I consider at month end?"
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== Summary == | == Summary == | ||
The following steps are accounting procedures that need to be taken into consideration before embarking a month end procedure (e.g. Bank Reconciliation & Stock Journals etc.). | The following steps are accounting procedures that need to be taken into consideration before embarking a month end procedure (e.g. Bank Reconciliation & Stock Journals etc.). | ||
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| + | ===Sales Ledger=== | ||
| + | *All sales invoices and credits have been posted into the system for the accountancy period you are about to close. | ||
| + | |||
| + | {{Note|The sales ledger almost takes care of itself because the sales invoices, credits and most payments are all posted from the other modules of the system, Stock Control, Workshop, Vehicle Sales and Order Processing.}} | ||
| + | |||
| + | *All receipts into the business, including monies received through point of sale (tills) have been posted onto the system and split into the appropriate control account.: - | ||
| + | |||
| + | '''Z900 cash''' | ||
| + | '''Z901 cheques''' | ||
| + | '''Z902 credit/debit cards''' | ||
| + | |||
| + | *The end of day daily takings agrees to the above control accounts and any corrections have been made to balance them. | ||
| + | See [[How to deal with end of day till corrections]] | ||
| + | |||
| + | ===Purchase Ledger=== | ||
| + | *All purchase invoices, credits and payments have been posted onto the system for the accountancy period you are about to close. | ||
| + | |||
| + | ===Nominal Ledger=== | ||
| + | |||
See [[How to process a month end]]. | See [[How to process a month end]]. | ||
Revision as of 09:11, 22 August 2008
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This article or section is under development. Be aware: Content will change as the document progresses. |
Summary
The following steps are accounting procedures that need to be taken into consideration before embarking a month end procedure (e.g. Bank Reconciliation & Stock Journals etc.).
Sales Ledger
- All sales invoices and credits have been posted into the system for the accountancy period you are about to close.
 | The sales ledger almost takes care of itself because the sales invoices, credits and most payments are all posted from the other modules of the system, Stock Control, Workshop, Vehicle Sales and Order Processing. |
- All receipts into the business, including monies received through point of sale (tills) have been posted onto the system and split into the appropriate control account.: -
Z900 cash Z901 cheques Z902 credit/debit cards
- The end of day daily takings agrees to the above control accounts and any corrections have been made to balance them.
See How to deal with end of day till corrections
Purchase Ledger
- All purchase invoices, credits and payments have been posted onto the system for the accountancy period you are about to close.
Nominal Ledger
See How to process a month end.
See also
