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training:accounting_ye

SUGGESTED YEAR END PROCEDURES

1.  COMPLETE INTEGRITY CHECK ROUTINES                                7.  CREATE RECURRING INVOICES 
2.  RECEIVE ALL PO'S                                                 8.  GENERATE A/R STATEMENTS
3.  COMPLETE ALL OPEN WORK ORDERS                                    9.  RECORD REQUIRED JOURNAL ENTRIES
4.  PHYSICAL INVENTORY COUNT                                        10.  RECONCILE BANK AND CLEARING ACCOUNTS                                  
5.  GENERATE INVENTORY VALUE REPORT                                 11.  ADVANCE MINIMUM BOOK MONTH
6.  CREATE INTEREST INVOICES                                        12.  PRINT REPORTS                 

CORRESPONDING VIDEO'S

1. INTEGRITY

2. RECEIVE ALL PO'S

All Inventory that has been physically received should be entered into System Five. This is in preparation for a Physical stock count as well as potential fulfillment of customer ordes.

3. COMPLETE ALL OPEN WORK ORDERS

Once all inventory has been recorded as recieved, open customer orders can be fulfilled. Invoices that are ready for shipment can be completed allowing the revenue to be recorded in the current fiscal year as well as potenial postiive change in cash if the invoice is paid.

http://wiki.wws5.com/doku.php?id=training:openworkordersreport0807281133

4. PHYSICAL STOCK COUNT

5. INVENTORY VALUE

6. INTEREST INVOICES

7. RECURRING INVOICES

All recurring invoices that are to be dated for the period need to be created prior to generating statements.

8. AR STATEMENTS

9. RECORD ALL JOURNAL ENTRIES

Entries such as bank fees, automatic withdrawals from the bank account, credit card purchases and monthly amortization of expenses are examples of journal entries that you will want to enter before reconciling the bank account.

10. BANK RECONCILIATION

ADVANCE MINIMUM BOOK MONTH

Advancing the minimum book month prevents access to prior period where changes can be made. This action is done in the General Ledger>Closing routines>advance minimum book month. It will bring forward the book month of open transactions such as work orders and layaways to allow access to complete, however the creation date is preserved.

training/accounting_ye.txt · Last modified: 2009/12/17 10:26 by charlene