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The most important part of a Month End is to create
a "cut off" point in the business transactions. Take
the following as an example.
Company
A's policty isto do their Month End on the last Thursday
of the month. All Managers and Staff know this. The
company established 1:00pm to be the time on the Thursday
for the closing of all transactions.
The
production staff ensures that the following is done:
-
All
Purchase Order Receipts are updated for any deliveries
received. They will normally try to arrange that
there are no deliveries from suppliers on the Thursday.
-
The
Winemakers will schedule their operations so that
they do not need to move wine around during the
Thursday afternoon. They will ensure that all Cellar
Worksheets, Bulk Receipts and Bulk Despatch operations
are updated.
-
The
Bottling Manager will ensure that all operations
are completed by midday so that the Bottling Run
can be processed.
-
Production
will do the physical stock take during the Thursday
afternoon.
The
Warehouse staff ensures that the following is done:
- Complete
the despatching of goods and prepare the warehouse
for stock take.
- They
will ensure that all invoices are printed.
- They
will do a stock take during the afternoon of the
Thursday.
The
Cellar Door staff will do the following:
- At
1:00pm (if it is not too busy) they will remove
the cash takings of the morning from the till drawer
and only leave the normal float.
- They
will update the Cellar Door Dockets processed to
obtain the cash up report.
- They
will continue immediately with normal sales. They
will update the afternoon's sales with the following
day's transactions to do the daily banking.
- They
will make up the daily banking for the Thursday
morning's transactions.
- They
will ensure they have at least a backup stock counted
and set aside to be sold from 1:00pm while they
count the rest of the stock.
The
financial department will start preparing at least from
the Monday by doing the following:
- Run
the SYSTEM ADMINISTRATION, SYSTEM VALIDATION SUMMARY
daily to obtain information on inconsistencies in
the database that need to be corrected before Month
End. The errors showing on this report have an impact
on the accuracy of reports.
- Run
the SALES ORDERS, SALES ORDER LISTING and check
for "empty" Sales Orders and Sales Orders older
than two months that will not be executed in future.
Delete such Sales Orders.
- Run
the PURCHASE ORDERS, PURCHASE ORDER LISTING and
check for "empty" Purchase Orders and Purchase Orders
older than two months that have a required date
in the past. Ask the Purchaser to delete those that
will not be delivered in future.
The
financial department performs the following tasks on
the Thursday afternoon:
- Run
the SYSTEM ADMINISTRATION, OUTSTANDING TRANSACTIONS
report and follow up on outstanding transactions.
The only transactions that should show on the list
are Sales Orders, Purchase Orders, Purchase Order
receipts for which invoices were not received, scheduled
Cellar Worksheets and scheduled Vineyard Worksheets.
- Run
the PURCHASE ORDERS, PURCHASE ORDER RECEIPT LISTING
and ensure that all Stock items are updated.
- Do
the banking. This will ensure that the Ezy Bank
Reconciliation Report has the same information as
the Bank Statement.
- Process
the physical stock count and update.
After
the stocktake was completed, the Month End reporting
can be done and the modules rolled to the new month.
The General Ledger in Ezy does not have a Month End.
It checks the month of the other modules to determine
in which month a transaction must update in the General
Ledger.
The
Sub Ledgers (Accounts Receivable, Accounts Payable,
Payroll, Asset Register and Stock) need a Month End
to open a new month. It is important to obtain Month
To Date type of reports.
We
suggest that you use the following checklist for the
final stages of the Month End.
- Update
the stock takes.
- Print
the STOCK OPERATION REPORTS, STOCK VALUATION BY
COST.
- Print
the ACCOUNTS RECEIVABLE REPORTS, DEBTOR TRIAL BALANCE.
- Print
the ACCOUNTS RECEIVABLE REPORTS, DEBTOR DETAIL TRIAL
BALANCE.
- Print
the ACCOUNTS PAYABLE REPORTS, CREDITOR TRIAL BALANCE.
- Print
the ACCOUNTS PAYABLE REPORTS, CREDITOR DETAIL TRIAL
BALANCE.
- Print
the PAYROLL OPERATION REPORTS, EMPLOYEE MTD SUMMARY.
- Print
the PAYROLL OPERATION REPORTS, LEAVE AUDIT TRAIL.
- Run
the PAYROLL OPERATIONS, SUPER MONTHLY UPDATE.
- Print
the PAYROLL OPERATION REPORTS, SUPER ANNUATION REPORT.
- Print
the SALES REPORTS required.
- Run
ACCOUNTS RECEIVABLE ADMINISTRATION, DEBTORS MONTH
END.
- Run
STOCK ADMINISTRATION, STOCK MONTH END.
- Run
ACCOUNTS PAYABLE, CREDITORS MONTH END.
- Run
PAYROLL ADMINISTRATION, PAYROLL MONTH END.
- Run
ASSET OPERATIONS, DEPRECIATION UPDATE.
- Print
the ASSET OPERATION REPORTS, YTD DEPRECIATION SUMMARY.
- Run
ASSET OPERATIONS, ASSET REGISTER MONTH END.
- Print
SYSTEM ADMINISTRATION, OUTSTANDING TRANSACTIONS
and ensure that all modules are in the new month.
- Run
SYSTEM ADMINISTRATION, REBUILD INDEXES.
- Do
a BACKUP.
- Print
the Debtor Statements the next day using ACCOUNTS
RECEIVABLE REPORTS, DEBTOR STATEMENT REPRINT.
It
is not a requirement to do the Creditor, Payroll and
Asset Register Month End at the same time. You can roll
these modules later. Ensure that you do not update new
month transactions to them by setting the System Parameter
'General: ACCT Validate Transaction Month' to "YES".
It is advisable that you roll both Stock and Debtors
on the last transaction day you have determined.
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