Month End Procedures

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The followings are proposed procedures to be carried out on the monthly basis.

Set currency rate before the beginning of each new month (last day of the month)

Monthly Bank Reconciliation  ( 5th day of the new month)

Revalue your foreign currency accounts ( after completing bank reconciliation)


Customer Ageing reports Print this report for management to review the customers' account, or to verify with Balance Sheet Trade Debtor Control


Statement of Accounts (Customer) (Only after bank reconciliation is done)



1) First print out all advance payment. Account for all negative balances.(Should not have negative balance)

2) Run recalculate balances

3) Lock date as at the closing stock report


GL journal for closing stock posting

Pass through your closing stock entries after confirming the stock closing value above



Lock Date Once your monthly accounts is completed and finalised, lock the date as at the reporting month.





Audit Trial Report


It is advisable to print daily transactions audit trial report to act as a hard copy backup and to print a whole month audit trial report for audit purposes.


Purchase Journal Audit Trial

Payment Audit Trial (Customer and GL )

Supplier Debit Note Audit Trial

Supplier Credit Note Audit Trial


The followings are Steps to print Purchase Journal Audit Trial. It will be applicable to the rest of the audit trials


Step 1: Double click Purchase Journal


(Or to print X audit trial, double click X )


Step 2: Click Print


Step 3:

Select Purchase Journal Audit Trial



Step 4: Click Print


Step 5: Set the date to print daily report or monthly report.

(System will by default display from the first to last items in the field.)


Step 6: Click OK




Step 7: At A/c Summary only, click Yes



Step 1 to Step 6 print a detail report of the audit trial.

Step 7 & Step 8 print the summary total of GL postings to its respective accounts.