Checklist for month end close

Best Practice Before Close: Check G/L Inquiry	New Accounts for Inform Direct Ship Inventory – should net to $0 Non Inventory – should net to $0 POS Clearing – should net to $0 (if deposits – tie to open POS report) Review un-invoiced PO report for old items (version 17 if accrual is used) Reconcile: AP and AR aging and inventory value to G/L
Day of Close: Daily Processes are Complete	Purchasing –  Stock Receiving, linking to A/P invoice Accounts Receivable – Invoicing, POS Posting, Cash Receipts Posting Accounts Payable –  Vendor Invoice Entry, Check Print
Day Of Close	Establish a blackout period – no posting to the general ledger Purchase orders, sales orders and system inquiries may continue as normal Go to Utilities > System Users & Locks to determine if there are any active users
Day of Close: Finance Charges, Customer Statements	Processed from the Accounts Receivable menu Finance Charge Update processed and posted Customer statements produced and printed successfully Can be done thru job stream Set in job stream menu Enable archived customer statement copies from the Company Master (Save Monthly A/R Statement in Customer Attachments
Day of Close: Reports	In accounting >end of month closing and journals>select "Close Accounts Receivable" and "Close Accounts Payable". (AR must be closed first). Version 17 - one button month end close Reports are archived to attachments tab in end of month menu and on your server ( DDI (D:) > IBM > ACCOUNTS > DDI > EOM.REPORTS) AR and AP aging reports Inventory reports – inventory value , Un Invoiced PO, Negative Inventory report
Day of Close: A/P Cutoff	A/R  and A/P period cutoff completed; system rolled into next monthly period
After Close: Reconciliation and Run Financial Reports	Reconcile : AP aging vs. AP G/L account, AR Aging vs. AR G/L account Reconcile Inventory vs. G/L account Bank reconciliation Run financial statements (accounting>general ledger>financial reporting).