Difference between revisions of "How to process a month end"

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Check the Financial Period is set to the month you wish to close off.
 
Check the Financial Period is set to the month you wish to close off.
  
−
Go to "Reports & Parameters" -> "Set New Financial Period".  
+
*Go to '''"Reports & Parameters"'''
 +
*Select '''"Set New Financial Period".'''
 
*Set the financial period to the one you wish to close.  
 
*Set the financial period to the one you wish to close.  
  
Line 17: Line 18:
  
 
=== Daybook Listing ===
 
=== Daybook Listing ===
−
Go to the "Sales Ledger" -> "Daybook Listing" -> "Print Daybook and Update Nominal"
+
*Go to the '''"Sales Ledger"'''
−
* This will give an audit trail for the posting to the Nominal Ledger and forms one very important part of your V.A.T. records.  
+
*Select '''"Daybook Listing"'''
 +
*Then goto '''"Print Daybook and Update Nominal"'''
 +
**This will give an audit trail for the posting to the Nominal Ledger and forms one very important part of your V.A.T. records.  
  
 
{{Warning|text='''WARNING:''' Make sure you have a complete printout before accepting the Daybook.}}
 
{{Warning|text='''WARNING:''' Make sure you have a complete printout before accepting the Daybook.}}
  
 
=== Aged Debt List ===
 
=== Aged Debt List ===
−
Go to the "Sales Ledger" -> "Aged Debtors Listing".
+
*Go to the '''"Sales Ledger"'''
−
*Select Print Debt List then press {{KeyPress|F5}} then {{KeyPress|F2}}.
+
*Select '''"Aged Debtors Listing".'''
 +
*Select '''Print Debt List''' then press {{KeyPress|F5}} then {{KeyPress|F2}}.
 
*For {{DataPrompt|Ignore Documents Beyond Current Accounting Period}} set {{DataValue|Y}}.
 
*For {{DataPrompt|Ignore Documents Beyond Current Accounting Period}} set {{DataValue|Y}}.
 
*Press {{KeyPress|ESC}} twice.
 
*Press {{KeyPress|ESC}} twice.
Line 31: Line 35:
  
 
=== Specific Month Cost Centre Report ===
 
=== Specific Month Cost Centre Report ===
−
Go to the "Sales Ledger" -> "Maintenance Options" -> "Centre Maintenance" -> "Print Monthly Turnover".
+
*Go to the '''"Sales Ledger"'''
−
*Select Specific Months Report and enter the month to produce the report for i.e. {{DataValue|06}} - June or {{DataValue|10}} - October.  
+
*Select '''"Maintenance Options"'''
 +
*Then goto'''"Centre Maintenance"'''
 +
*Followed by '''"Print Monthly Turnover".'''
 +
*Select '''Specific Months Report''' and enter the month to produce the report for i.e. {{DataValue|06}} - June or {{DataValue|10}} - October.  
  
 
== Purchase Ledger ==
 
== Purchase Ledger ==
Line 38: Line 45:
  
 
=== Daybook Listing ===  
 
=== Daybook Listing ===  
−
Go to the "Purchase Ledger" -> "Daybook Listing" -> "Print Daybook and Update Nominal".
+
*Go to the '''"Purchase Ledger"'''
−
* This will give an audit trail for the posting to the Nominal Ledger and forms one very important part of your V.A.T. records.  
+
*Select '''"Daybook Listing"'''
 +
*Then Goto '''"Print Daybook and Update Nominal".'''
 +
** This will give an audit trail for the posting to the Nominal Ledger and forms one very important part of your V.A.T. records.  
  
 
{{Warning|text='''WARNING:''' Make sure you have a complete printout before accepting the Daybook.}}
 
{{Warning|text='''WARNING:''' Make sure you have a complete printout before accepting the Daybook.}}
  
 
=== Aged Creditors List ===
 
=== Aged Creditors List ===
−
Go to "Purchase Ledger" -> "Aged Creditors Listing" -> "Print Debt List".
+
*Go to '''"Purchase Ledger"'''
−
*Select Print Debt List then press {{KeyPress|F5}} then {{KeyPress|F2}}.
+
*Select'''"Aged Creditors Listing"'''
 +
*Then goto '''"Print Debt List".'''
 +
*Select '''Print Debt List''' then press {{KeyPress|F5}} then {{KeyPress|F2}}.
 
*For {{DataPrompt|Ignore Documents Beyond Current Accounting Period}} set {{DataValue|Y}}.
 
*For {{DataPrompt|Ignore Documents Beyond Current Accounting Period}} set {{DataValue|Y}}.
 
*Press {{KeyPress|ESC}} twice.
 
*Press {{KeyPress|ESC}} twice.
Line 52: Line 63:
  
 
=== Specific Month Cost Centre Report ===
 
=== Specific Month Cost Centre Report ===
−
Go to "Purchase Ledger" -> "Maintenance Options" -> "Centre Maintenance" -> "Print Monthly Turnover".
+
*Go to '''"Purchase Ledger"'''
 +
*Select '''"Maintenance Options"'''
 +
*Then goto '''"Centre Maintenance"'''
 +
*Followed by '''"Print Monthly Turnover".'''
 
*Select Specific Months Report and enter the month to produce the report for i.e. {{DataValue|06}} - June or {{DataValue|10}} - October.  
 
*Select Specific Months Report and enter the month to produce the report for i.e. {{DataValue|06}} - June or {{DataValue|10}} - October.  
  
Line 59: Line 73:
  
 
=== Monthly Audit & Cashbook ===
 
=== Monthly Audit & Cashbook ===
−
Go to "Reports & Parameters" -> "Reports" -> "Monthly Audit & Cashbook" -> "Normal Monthly Audit".
+
*Go to '''"Reports & Parameters"'''
 +
*Select '''"Reports"'''
 +
*Then go to '''"Monthly Audit & Cashbook"'''
 +
*Followed By '''"Normal Monthly Audit".'''
 
* Press {{KeyPress|Enter}} to use the Current Accounting Period as the month to audit.  
 
* Press {{KeyPress|Enter}} to use the Current Accounting Period as the month to audit.  
  
Line 71: Line 88:
  
 
=== Trial Balance ===
 
=== Trial Balance ===
−
Go to "Nominal Ledger" -> "Trial Balance".
+
*Go to '''"Nominal Ledger"'''
 +
*Select '''"Trial Balance".'''
 
*When the report is on the screen, press {{KeyPress|F2 }}to print the Trial Balance. This allows you to check balances on each Nominal Code especially for the major control accounts e.g. Current Bank Account, Cash in Hand, Sales & Purchase Control and V.A.T. Outstanding.  
 
*When the report is on the screen, press {{KeyPress|F2 }}to print the Trial Balance. This allows you to check balances on each Nominal Code especially for the major control accounts e.g. Current Bank Account, Cash in Hand, Sales & Purchase Control and V.A.T. Outstanding.  
  
 
=== Profit & Loss Report ===
 
=== Profit & Loss Report ===
−
Go to "Nominal Ledger" -> "Profit & Loss". Both options here are print-outs.
+
*Go to '''"Nominal Ledger"'''
−
*Select "Run Profit & Loss Report".
+
*Then go to '''"Profit & Loss".''' Both options here are print-outs.
−
*Next, select "Audit Trail & Clear Down".
+
*Select '''"Run Profit & Loss Report".'''
 +
*Next, select '''"Audit Trail & Clear Down".'''
 
*Once you have a complete report, accept it.  
 
*Once you have a complete report, accept it.  
  
 
=== Balance Sheet ===
 
=== Balance Sheet ===
−
Go to "Nominal Ledger" -> "Balance Sheet"  
+
*Go to '''"Nominal Ledger"'''
−
*Select "Balance Sheet".
+
*Select '''"Balance Sheet"'''
−
*Next, select "Audit Trail & Clear Down".
+
*Then go to '''"Balance Sheet".'''
 +
*Next, select '''"Audit Trail & Clear Down".'''
 
*Once you have a complete report, accept it.  
 
*Once you have a complete report, accept it.  
  
Line 92: Line 112:
  
 
=== V.A.T. Reports ===
 
=== V.A.T. Reports ===
−
Go to "Reports & Parameters" -> "Reports" -> "V.A.T. Reports"  
+
*Go to '''"Reports & Parameters"'''
 +
*Select '''"Reports"'''
 +
*Then go to '''"V.A.T. Reports"'''
 
*The month and year that is shown should be the end of the current quarter. Click {{KeyPress|OK}}.
 
*The month and year that is shown should be the end of the current quarter. Click {{KeyPress|OK}}.
  
 
=== Final Financial Period Change ===
 
=== Final Financial Period Change ===
−
Go to "Reports & Parameters" -> "Set New Financial Period".  
+
*Go to '''"Reports & Parameters"'''
 +
*Select '''"Set New Financial Period".'''
 
*Move the Financial Period on to the next month in the financial year.  
 
*Move the Financial Period on to the next month in the financial year.  
 
*Ensure that you press {{KeyPress|Enter}} to select the new period.
 
*Ensure that you press {{KeyPress|Enter}} to select the new period.
Line 104: Line 127:
  
 
=== Clearing down ===
 
=== Clearing down ===
−
Go to "Sales Ledger" -> "Cleardown".
+
Go to '''"Sales Ledger"''' -> '''"Cleardown".'''
 
*Press {{KeyPress|F2}} to cleardown all the complete documents.
 
*Press {{KeyPress|F2}} to cleardown all the complete documents.
 
{{Note|text='''PLEASE NOTE:''' This routine may take quite a long time to complete, so ensure that you have plenty of time in which to do this. This removes from the system all transactions with zero balances that have had all the necessary analysis done on them and either puts them into the transaction archives or eliminates them into free space. In most cases, they will be archived and can be retrieved using the "Transaction Archives" option in "Reports & Parameters". It is nevertheless useful to have a full system backup.}}  
 
{{Note|text='''PLEASE NOTE:''' This routine may take quite a long time to complete, so ensure that you have plenty of time in which to do this. This removes from the system all transactions with zero balances that have had all the necessary analysis done on them and either puts them into the transaction archives or eliminates them into free space. In most cases, they will be archived and can be retrieved using the "Transaction Archives" option in "Reports & Parameters". It is nevertheless useful to have a full system backup.}}  
Line 112: Line 135:
  
 
=== Clearing down ===
 
=== Clearing down ===
−
Go to "Purchase Ledger" -> "Cleardown".
+
*Go to '''"Purchase Ledger"'''
 +
*Select '''"Cleardown"'''.
 
*Press {{KeyPress|F2}} to cleardown all the complete documents.
 
*Press {{KeyPress|F2}} to cleardown all the complete documents.
 
{{Note|text='''PLEASE NOTE:''' This routine may take quite a long time to complete, so ensure that you have plenty of time in which to do this. This removes from the system all transactions with zero balances that have had all the necessary analysis done on them and either puts them into the transaction archives or eliminates them into free space. In most cases, they will be archived and can be retrieved using the "Transaction Archives" option in "Reports & Parameters". It is nevertheless useful to have a full system backup.}}  
 
{{Note|text='''PLEASE NOTE:''' This routine may take quite a long time to complete, so ensure that you have plenty of time in which to do this. This removes from the system all transactions with zero balances that have had all the necessary analysis done on them and either puts them into the transaction archives or eliminates them into free space. In most cases, they will be archived and can be retrieved using the "Transaction Archives" option in "Reports & Parameters". It is nevertheless useful to have a full system backup.}}  

Revision as of 12:27, 15 May 2008

Summary

The following steps will take you through what to do on your month end step by step.

Additional Information

If you are running the full accounts system there are various procedures you have to go through at the end of a financial period (in Platinum this is one calendar month) to produce your end of month reports and to allow you to close off a period and move into the next financial period.

The majority of these processes will produce printouts. Please make sure your printer is switched on, is loaded with paper and is on line.

Financial Period Check

Check the Financial Period is set to the month you wish to close off.

  • Go to "Reports & Parameters"
  • Select "Set New Financial Period".
  • Set the financial period to the one you wish to close.

Sales Ledger

After the last Sales Invoice for the month is complete, the following reports may be extracted:

Daybook Listing

  • Go to the "Sales Ledger"
  • Select "Daybook Listing"
  • Then goto "Print Daybook and Update Nominal"
    • This will give an audit trail for the posting to the Nominal Ledger and forms one very important part of your V.A.T. records.
WARNING: Make sure you have a complete printout before accepting the Daybook.

Aged Debt List

  • Go to the "Sales Ledger"
  • Select "Aged Debtors Listing".
  • Select Print Debt List then press <F5> then <F2>.
  • For "Ignore Documents Beyond Current Accounting Period" set 'Y'.
  • Press <Esc> twice.
  • If you want a breakdown of the debts then type '1' into "Breakdown From Period" else leave this set to '0'.
  • Press <F2> to print the Debt List.

Specific Month Cost Centre Report

  • Go to the "Sales Ledger"
  • Select "Maintenance Options"
  • Then goto"Centre Maintenance"
  • Followed by "Print Monthly Turnover".
  • Select Specific Months Report and enter the month to produce the report for i.e. '06' - June or '10' - October.

Purchase Ledger

After the last Purchase Invoice for the month has been received and posted onto the system or you have reached an appropriate cut-off point, the following reports may be extracted:

Daybook Listing

  • Go to the "Purchase Ledger"
  • Select "Daybook Listing"
  • Then Goto "Print Daybook and Update Nominal".
    • This will give an audit trail for the posting to the Nominal Ledger and forms one very important part of your V.A.T. records.
WARNING: Make sure you have a complete printout before accepting the Daybook.

Aged Creditors List

  • Go to "Purchase Ledger"
  • Select"Aged Creditors Listing"
  • Then goto "Print Debt List".
  • Select Print Debt List then press <F5> then <F2>.
  • For "Ignore Documents Beyond Current Accounting Period" set 'Y'.
  • Press <Esc> twice.
  • If you want a breakdown of the debts then type '1' into "Breakdown From Period" else leave this set to '0'.
  • Press <F2> to print the Creditors List.

Specific Month Cost Centre Report

  • Go to "Purchase Ledger"
  • Select "Maintenance Options"
  • Then goto "Centre Maintenance"
  • Followed by "Print Monthly Turnover".
  • Select Specific Months Report and enter the month to produce the report for i.e. '06' - June or '10' - October.

Reports & Parameters

The following report needs to be run from the Reports & Parameters system.

Monthly Audit & Cashbook

  • Go to "Reports & Parameters"
  • Select "Reports"
  • Then go to "Monthly Audit & Cashbook"
  • Followed By "Normal Monthly Audit".
  • Press <Enter> to use the Current Accounting Period as the month to audit.

This forms another very important part of your V.A.T. records (V.A.T. Audit) and also provides a cashbook. When you have a complete printout, Press <Enter> to accept the audit.

PLEASE NOTE: If you get a message that there is UNPROCESSED DATA for any months, press <Enter> to continue you will then be asked to accept or ignore the report. When you have a complete printout, press <Enter> to accept the audit trail. Go back to the "Monthly Audit & Cashbook" Menu and select "Audit For Months Before a Given Date".

Press <Enter> to use the same dates as for the Normal Monthly Audit and this will process any data which has fallen into previous months so has not been through the Monthly Audit report.

Nominal Ledger

The following reports/processes need to be run from the Nominal Ledger.

Trial Balance

  • Go to "Nominal Ledger"
  • Select "Trial Balance".
  • When the report is on the screen, press <F2>to print the Trial Balance. This allows you to check balances on each Nominal Code especially for the major control accounts e.g. Current Bank Account, Cash in Hand, Sales & Purchase Control and V.A.T. Outstanding.

Profit & Loss Report

  • Go to "Nominal Ledger"
  • Then go to "Profit & Loss". Both options here are print-outs.
  • Select "Run Profit & Loss Report".
  • Next, select "Audit Trail & Clear Down".
  • Once you have a complete report, accept it.

Balance Sheet

  • Go to "Nominal Ledger"
  • Select "Balance Sheet"
  • Then go to "Balance Sheet".
  • Next, select "Audit Trail & Clear Down".
  • Once you have a complete report, accept it.

Reports & Parameters

The following reports/processes need to be run from the Reports & Parameters system.

The V.A.T. Report need only be run at the end of the quarter, but feel free to look at it as often as you wish!

V.A.T. Reports

  • Go to "Reports & Parameters"
  • Select "Reports"
  • Then go to "V.A.T. Reports"
  • The month and year that is shown should be the end of the current quarter. Click <OK>.

Final Financial Period Change

  • Go to "Reports & Parameters"
  • Select "Set New Financial Period".
  • Move the Financial Period on to the next month in the financial year.
  • Ensure that you press <Enter> to select the new period.

Sales Ledger

The cleardown will clear all transactions from the Sales Ledger which have been fully processed. They are then archived and stored in Document History (provided the "Transaction Archive Parameter" is set to 'Y').

Clearing down

Go to "Sales Ledger" -> "Cleardown".

  • Press <F2> to cleardown all the complete documents.
PLEASE NOTE: This routine may take quite a long time to complete, so ensure that you have plenty of time in which to do this. This removes from the system all transactions with zero balances that have had all the necessary analysis done on them and either puts them into the transaction archives or eliminates them into free space. In most cases, they will be archived and can be retrieved using the "Transaction Archives" option in "Reports & Parameters". It is nevertheless useful to have a full system backup.

Purchase Ledger

The cleardown will clear all transactions from the Purchase Ledger which have been fully processed. They are then archived and stored in Document History (provided the "Transaction Archive Parameter" is set to 'Y').

Clearing down

  • Go to "Purchase Ledger"
  • Select "Cleardown".
  • Press <F2> to cleardown all the complete documents.
PLEASE NOTE: This routine may take quite a long time to complete, so ensure that you have plenty of time in which to do this. This removes from the system all transactions with zero balances that have had all the necessary analysis done on them and either puts them into the transaction archives or eliminates them into free space. In most cases, they will be archived and can be retrieved using the "Transaction Archives" option in "Reports & Parameters". It is nevertheless useful to have a full system backup.

See also


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Keywords AND Misspellings
Month, end, daybook, audit, debt list, nominal, update
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