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):
- Run and tie the AR Period Sensitive Aging to the AR account on the GL Trial Balance (for the same period):
- 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:
- Run and tie the Inventory Historical Valuation report to the Inventory account on the GL Trial Balance. Run it for the same period:
- 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:
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