Month-End Procedures for Acumatica

Month End for Acumatica

While all companies have their own internal accounting month-end procedures to follow (and still should), here are some month-end processes that are important to complete each month in Acumatica.

  • Batches from all modules should be reviewed and released/posted that are still unreleased.
  • Recurring entries for that period should be generated and released/posted.
  • All journal entries completed for the month, including adjusting entries, payroll entries, etc.
  • Run and tie the AP Period Sensitive Aging to the AP account on the GL Trial Balance (for the same period):

Month End for Acumatica

Month End for Acumatica

  • Run and tie the AR Period Sensitive Aging to the AR account on the GL Trial Balance (for the same period):

Month End for Acumatica

Month End for Acumatica

  • Run and tie the Purchases PO Accrual Summary report to the PO Accrual account on the GL Trial Balance (Note: this report cannot be run for a certain period, but as of today). It’s the Total Received Cost on the last page to compare:

Month End for Acumatica

Month End for Acumatica

  • Run and tie the Inventory Historical Valuation report to the Inventory account on the GL Trial Balance. Run it for the same period:

Month End for Acumatica

Month End for Acumatica

  • Each Bank Account reconciled with a Reconciliation Statement in the Cash Management module, tying your Banking module’s cash balance with your Bank Statement. This is performed under Banking, Reconciliation Statements. Then, close each sub-module under Processes, Close Financial Periods. Close the sub-modules before GL:

Month End for Acumatica

If you need more information or assistance, contact us at support@crestwood.com.

 

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