Use the following checklist to track your progress. As you complete each step, record the date and enter your initials.

Transcription

1 Month-End LightspeedEVO End of Month Checklist Use the following checklist to track your progress. As you complete each step, record the date and enter your initials. Things to know or do prior to running month end: All End-of-Day (EOD) processes must be completed and posted including the last day of the month. You can go back and run EOD with the date range set to the entire month to verify everything has been posted. To verify that there is nothing in the Cash Receipts Journal, you must enter your password and click Print. Then verify the Sales Journal Summary has nothing to be posted. All Journals must be posted. All Reports for month end are real time reports and must be run to ensure accuracy. Verify all clearing accounts; they should be zero. Not all items need to be completed by the accounting department. Month End is for all departments and duties can be divided as such. CDK Global is a trademark of CDK Global, LLC. Lightspeed is a trademark of CDK Global, LLC. B00000 Oct 2015 CDK Global, LLC Printed in U.S.A 1 of 5

2 Parts Run the following reports and make necessary journal entries. (Do this before reconciling accounts.) Parts - Reports - Parts Inventory Adjustment - Manual Adjustments Parts - Reports - Parts Inventory Adjustment - Price Updates (Current Cost only) Parts - Reports - Parts Inventory Adjustment - Cost & Category Updates Parts - Reports - Parts Inventory Parts Exception Report Print the inventory valuation summary. System - Inventory Valuation (Report must be run, can compare later.) Print Lost Sales Report. Parts - Reports - Parts Inventory -529 Parts, Lost Sales MTD Run parts inventory month-end update. System - Scheduled Maintenance - Parts Inventory Month-end Update B00000 Oct 2015 CDK Global LLC 2 of 5

3 Service Run the following reports before clearing the technician statistics. Service - Reports - Technicians Technician Efficiency Report Service - Reports - Technicians Technician Productivity Report (Reports must be run at month-end, can compare later.) Compare Inventory Valuation Outstanding Warranty Receivable with the general ledger/trial balance. Clear technician MTD statistics. System - Scheduled maintenance - Clear technician MTD statistics Sales Print the Sales Deal Adjustment Report. Sales - Reports - Quotes and Deals Sales Deal Adjustments (Report must be run at month-end, can compare later.) Accounts Receivable Print before aging report for internal accounts. Receivables - Reports - Aging Report Allocate internal charges using a credit memo. Calculate and apply finance charges. Receivables - Calculate Finance Charges Add recurring charges to open item accounts. Receivables - Add Recurring Charges to Open Items Also add Rental charges, if applicable. Apply open credits to any open item customers. Receivables - Apply Open Credits to Invoices Print statements for balance forward and open item. Receivables - Reports - Statements Erase paid charges / Carry balances forward. Receivables - Erase Paid Charges / Carry Balances Forward B00000 Oct 2015 CDK Global LLC 3 of 5

4 Print an after aging report Receivables - Reports - Aging Report Print and post AR journal entries to the general ledger Accounts Payable Add recurring invoices to the Unpaid Invoice file Payables - Add Recurring Invoices to Unpaid Invoices Print a month-end detailed aging report Payables - Reports - Aging Report Accounting Reconciliation Reports Reconcile accounts receivable. Reconciliation, select Accounts Receivable Reconcile accounts payable. Reconciliation, select Accounts Payable Reconcile major units. Reconciliation, select Major Units Reconcile special order deposits. Reconciliation, select Special Order Deposits Reconcile repair order deposits. Reconciliation, select Repair Order Deposits Reconcile sales deal deposits. Reconciliation, select Sales Deal Deposits Final Month End Reports Print the trial balance, and make sure you are still in balance (debits = credits). General Ledger - Reports - Trial Balance Print the balance sheet. General Ledger - Reports - Balance Sheet Print the profit and loss statement. General Ledger - Reports - Profit & Loss Statement B00000 Oct 2015 CDK Global LLC 4 of 5

5 Print general ledger detail for the month (optional). General Ledger - Reports - GL History of Postings (for the month ending) Sales Tax Report Running the sales tax report allows you to easily get the taxes due to state and local government agencies. It compiles all of your sales tax information by tax category and includes figures for any tax reduction due to taking trade-in units on deals. To run the sales tax report: 1. Go to the System - Reports - Sales Tax to display the report options screen. 2. Choose the report style. The Summary format is generally sufficient for reporting taxes to the local tax entities. 3. Enter the date range to report. 4. Select the default non-taxable tax category. Your sales categories specify which tax category to use. However, sales categories that are non-taxable have no tax category association. To organize the report, you must choose one of your non-taxable tax categories as the header for items that fall under a non-taxable sales category. This will only need to be done the first time the report is run. 5. Click the Print button to get a full report on all of your tax categories, plus any reduction for trade-in tax adjustment. B00000 Oct 2015 CDK Global LLC 5 of 5