Accounts Receivable End-of-Month Checklist

The end-of-month process is required before each module is updated for the month. This checklist is designed to prepare the needed reports and run the required balancing before updating the module. Users should complete each step in order for ALL clients.     [Print this page.]

For Month Of:    
 EOM Task to Complete..... Completed
 Make Sure ALL Deposits have been Made for Current A/R Month.
 A/R > EOM > EOM Flag - Set End-of-Month Flag
 Import Mgmt Fees if they are Invoiced at EOM via T/R ( skip this section if Mgmt Fees billed at BOM ) ...
 A/R > End-of-Month > Create A/R from A/P  (apply Adv's & C/Ms)
 Validate Financial Totals and Balances ...
 Add all "DEPOSIT RECEIPTS" on Hand (balance with A/R Bank Totals Report -  ) .
 A/R > End of Month > Validate Cash Totals  (fix any imbalances)
 A/R > Reports > Customer Info - Customer/Invoice Balance Report  (fix any imbalances)
 Clean Up Customer Accounts ...
 A/R > Reports > Invoices > Inv Reports - Delinquent Listing  (apply Adv's & C/Ms)
 Print Point-in-Time Reports (or Save as ".pdf") ...
 A/R > End-of-Month > EOM Reports  (these are sent to the FTP directory)
 Run the Month-End Processes ...
 A/R > End-of-Month > EOM Update - Run EOM Update Process
 A/R > Cust Info > Cust Maint - Change billing amounts for new financial period (if needed)
 A/R > End-of-Month > Create Auto Charges - Create Monthly Automatic Charges/Credits
 Create Mgmt Fees if they are Invoiced at BOM ( skip this section if Mgmt Fees billed at EOM via T/R ) ...
 Clients > Client Reports > Client Fees and Other Data Report  (verify fees - don't do for % fee clients)
 Clients > Create Management Fees > Create Management Fees (A/P)   * (only if Mgmt Fees collect at BOM)
 A/R > End-of-Month > Create A/R from A/P  (apply Adv's & C/Ms)
 Run Statements ( skip this section if you don't send statements ) ...
 A/R > Statements > Prepare Statements  (make sure email statements are sent)

Please complete this checklist in the order indicated. Place a check-mark in the checkbox when the task is completed. When the checklist is complete, file it where such process-control documents are filed.     [Print this page.]

Copyright © 1985-2024 - Advantos Systems, Inc. - All rights reserved.