How to – Balance and Month End (Roll Balances) DEBTORS
In order to do the month end in Debtors and balance the ageing and control figures do the following steps for each Debtor Entity
1. Ensure that ALL transactions for the period have been captured and finalised.
2. Go to the Debtors-Setup-Billing Entity screen, select the entity on the left
3. Under Period Setup on the right
Edit and close the current period, This is to ensure that no additional transactions can be created and no current transactions can be edited.
DO NOT change the current period
Create a new Billing period , for the next month.
4. ON the main menu, on the right , click on the function/wheel icon
Select Debtors - Recalculate Debtors Balances ,
select the Entity that you are balancing.( this should take not longer than 40 mins)
5. Open Item
If you have clients flagged as open item,
On the main menu on the right, click on the function/wheel icon
Select Debtors – Recalculate Debtors open item
6. From the main menu Select Debtors – Ledger menu option
7. Click on the switch view icon to show the enquiry with multiple columns.
Column 1 is the Active Balance which shows the balance, including any transactions for the new month
Column 2 is the ageing balance
Column 3 is the control or transactional balance.
Column 2 and column 3 totals should balance to each other and should balance to the control total for the period at the top screen
( IF IT DOES NOT BALANCE , please contact Accfin for assistance)
8. Print the control report and check that it balances.
9. Select the filter icon and select Debit Balances
Email / Print the statements
10. Print the audit trails for Invoice, Credit Note, Receipt, and Journals
11. Do the above steps for each entity.
12. Go to the Debtors-Setup-Billing Entity screen,
13. Click on the wheel icon at the top and select – File Month End Reports
14. Select the reports/exports that you want to file and click the green tick.
15. When completed, the reports you select would be generated in PDF form and filed against the Debtors Entity period. These reports can then be accessed at any time. You can select and print any report, and if you chose to file reports per partner, then the partner specific reports can also be accessed )
16. Change the current period for each Entity to the new month.
17. When prompted to recalculate, select YES.
