The Debtors Month End Procedure is generally performed on the first working day of the new month after all debtors transactions have been processed. This procedure is usually performed by the the accounts clerk or bookkeeper.

This procedure does not need to be completed prior to trading in the new month, however until this process has been completed, sales transactions for the new month will not update/finalise to the sales, debtors and general ledgers. Therefore it is recommended that it is completed on the first work day of the new month where possible.

Prerequisites:

The following items must be complete or checked prior to performing the Debtors Period Rollover.

1.The Sales / Inventory Period Rollover must have been completed. Refer to Stock / Inventory Month End for more information.

2.Ensure all bank deposit batches are updated and are posted. Refer to Bank Deposit Entry for more information.

a.Open Bank Deposit Entry by navigating to Main Menu > Debtors > Cash Receipts > Bank Deposit Entry.

b.Check the Batch drop-down list for any batches for the month being rolled over and click the Update Batch button to update them

3.Ensure all cash receipts have been applied to invoices or on account. Refer to Debtors Posting for more information.

a.Open Debtors Posting by navigating to Main Menu > Debtors > Cash Receipts > Debtors Posting.

b.Check the Cash Batch drop-down list for any cash receipt batches that haven't been applied and apply as required.

c.Click Update when all cash receipts have been applied.

4.At the end of the financial year, it is recommended to perform a bank reconciliation up to the EOFY, on all bank accounts that customers pay into. This will ensure all debtor receipts have been entered and applied to customer accounts prior to rolling over.

Process:

1.Ensure your processing date is set to the last work day of the month. Refer to Main Menu - Changing the Processing Date for more information.

2.Generate Monthly Consolidated Invoices. Refer to Generate Consolidated Invoices for more information.

a.Enter start/end dates for the month, click Header OK

b.Open Generate Consolidated Invoices by navigating to Main Menu > Debtors > Invoicing > Consolidated Invoicing > Generate Consolidated Invoices.

c.Make any adjustments that are required.

d.Click Generate Invoices & Update.

3.Write-Off Internal Usage

a.Use the Global Customer Enquiry or the consolidated invoices generated in the above step to ascertain the value of any internal usage invoices that have been generated throughout the month.

b.Open Debtors Journal Entry by navigating to Main Menu > Debtors > Debtors Journal Entry.

c.Enter a negative debtors journal for each of the internal usage customer accounts, for each department (where applicable), for the value of internal usage and post the journal to the appropriate cost centre and ledger account for the department and expense (eg if you sold yourself items used in your staff kitchen, you may select the G/L account for Staff Amenities). Refer to Debtors Journal Entry for more information.

d.Update the Debtors Journals by clicking Save & Update.

e.Open Debtors Posting by navigating to Main Menu > Debtors > Cash Receipts > Debtors Posting.

f.For each internal usage customer account, apply the credit journal created to the internal usage invoice(s). Refer to Debtors Posting for more information.

4.Print/Send Debtors Statements

a.Open Print Debtors Statements by navigating to Main Menu > Debtors > End of Period/Year > Print Debtors Statements.

5.Open Debtors Period Rollover by navigating to Main Menu > Debtors > End of Period/Year > Debtors Period Rollover.

a.Ensure all items have green ticks. If any items have red crosses, use the instructions on the screen to correct the issue then close and reopen the Debtors Period Rollover screen again.

6.Click Process Period Rollover.

7.Change the Processing Date to 'today' (ie. the new month)

8.Run a Print/Send/Update Invoices & Credits to update new month transactions that may have already been entered. Refer to Print/Send/Update Invoices & Credits and Invoice Update for more information.

9.Check Bank Deposit Batches created by the POS Till Reconciliation in the new month. This should only occur if the Debtors Month End Process is not completed prior to the first POS Till Reconciliation being completed in the new month.

a.Open Bank Deposit Entry by navigating to Main Menu > Debtors > Cash Receipts > Bank Deposit Entry.

b.Check the Batch drop-down list for any batches for the new month that may have already been created by the POS Till Reconciliation and click the Update Batch button to update them if required.