Prior to Month-End

1.  Make sure all required transactions have been posted to the current period.  The purpose of this step is to make sure that all transactions affecting sub-ledger reports are processed prior to running the month-end version of the reports.  

•      Verify that all A/P invoices have been Entered.

•      Verify that all A/P manual checks have been posted.

•      Verify that all A/R payments have been applied.

•      Verify that all A/R invoices and credit memos have been produced and that no invoicing or accounting activity of any kind is taking place.

•      Verify that sales for period have been posted (optional as the sales posting process does not change the balance on any end of period sub-ledger reports, and the system allows the operator to specify the period that each sales posting transaction will be posted to.)

•      Verify that all inventory receipts have been posted, and that no inventory activity is taking place

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At Month-End