Accounts Receivable End of Period Procedures
This section describes the procedures that should be performed at the end of each month or accounting period. The procedures are broken into the following categories
• Operational Procedures - The procedures listed in this section must be performed in a timely fashion at the end of each period. These procedures prevent transactions from being posted to incorrect periods, they promote the production of valid versions of the month end reports that will be required in order to close the general ledger period, and they allow users to begin processing in the next period. These procedures should be completed at the end of the last day of each period before any transactions are posted to the next period.
• Closing Procedures – Closing procedures are those procedures that can be performed after the end of the accounting period. These procedures are less time critical than the operational procedures as the timing of the procedure does not affect the accuracy of the sub-ledger reports, or prevent you from obtaining an accurate period cut-off
• Maintenance Procedures – Maintenance procedures are tasks that should be performed at the end of the month or period that are not associated with the accounting month end. Examples include rebuilding the sales statistics or accumulators in the Company Master file, and other tasks such as purging old data, clearing temporary records out of files, etc.
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Operational Procedures