GL-Month End Closing Procedures. User Guide

Transcription

1 GL-Month End Closing Procedures User Guide Davisware 514 Market Loop West Dundee, IL Phone: (847) Fax: (847) Contents are the exclusive property of Davisware. Copyright All Rights Reserved. Published December 19, 2012 Revised: November 24, 2015

2 Purpose: To instruct how to perform Month End Close-Out. Month End Closing Procedures The following are the procedures to follow in order to close an accounting period in GlobalEdge. This should be done at the end of the day after all accounting transactions are complete. First, change the accounting period. The accounting period is changed in GL, utilities, change accounting period. Normally, only change the accounting period at this time: Type in 1 in the increment period by Type in 0 in the increment GL period by Note: To increment the GL period ONLY in the increment period by, and +1 in the increment GL period by. Davisware 2

3 This changes the accounting period by 1 (from February to March as an example), but doesn t change the GL period. Remember, the GL period only is used as the default for creating journal entries, and posting the recurring GL entries like automatic distribution post. Davisware 3

4 When you have finished all the month end entries and posting for General Ledger, you can return to this function to do 0 in the accounting period and 1 in the GL period. Remember to only increment the accounting period one time per month! Although you are encouraged to increment the period at the end of the month, you can increment the period on any day. It is always best to increment the period at the end of the day, and then run the following month end reports: AR - Reports --AP Aging AR -Reports AR Aging Inventory - Reports -- Inventory Valuation report PO - Reports Open Receipt Value Report Service Management Reports Service Order Valuation Report Order Entry Reports -- Order Valuation report Job Management Reports Job Cost Reports -- On Line Cost Report (only for users running Job Cost) If you change the period at the beginning of the work day, please ask all users to make sure they are in the new period. Any user who has logged in BEFORE the period was incremented will need to accept the new accounting period by going to GL, Setup, Accounting Period control. Next, print all the distribution reports. Review to make sure they are all in balance, and the gl codes and values look correct. Inventory Reports Inventory Distribution Report Accounts Payable Reports Ap Distribution Report Accounts Receivable Reports AR Distribution Report Job Management Reports JC Distribution Report Payroll Management Reports Payroll distribution (only if processing payroll on GlobalEdge) Davisware 4

5 After the distribution reports have been printed and verified, they are posted to the General Ledger. Inventory Utilities Inventory to GL Interface. Accounts payable Utilities AP to GL Interface Accounts Receivable Utilities AR to GL Interface Job Management Management Utilities - JC to GL Interface Note: You can only post one period at a time. When you review the distribution reports, you will see each period with un-posted entries. Post each period separately that appears on the report. There are housekeeping routines in various modules. AP Utilities AP Open Item Purge. This function puts every open AP item with a -0- balance into history. History items can still be viewed on the Vendor Screen, AP tab, by checking the history button. When an item is moved to history, it is no longer viewed on the AP Aging Report. AP Utilities Vendor stats reset. This resets the vouchers processed and checks created. The typical default is to reset PTD only at year end, the YTD and PTD would both be selected. New users on GE typically do not reset the payments history or statistics for at least the first year. Davisware 5

6 See the screen show below -- AR Utilities Customer Stats Reset This is a similar function to the one in A/P. Reset only for PTD; at year end, both the YTD and PTD are selected. It is the user s choice when to recalculate the biggest balance and payment history. Normally, it is reset no more than once per year. AR Utilities AP Open Item Purge. This function puts every open AR item with a -0- balance into history. History items can still be viewed on the Customer Screen, AR tab, by checking the history button. When an item is moved to history, it is no longer viewed on the AR Aging Report. (Author: NCR) Davisware 6

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