Month End Checklist

Subsidiary Ledgers

1

Accounts Payable

Parent Accounts

Commercial Debtors (if applicable)

School Shops (If applicable)

Fixed Assets

Complete all transaction entries in these modules for the month.

• Complete

2

Finance > Accounts Payable > Period End > Post Period Activity.

Complete postings for the month after usual checking.

• Complete

3

Finance > Accounts Payable > Listings & Reports > AP Snapshot Report.

Run AP Snapshot for the month. 

Note the total of this report. This will be used in a subsequent Step for reconciliation against the General Ledger control account Creditors.

• Complete

4

Finance > Parent Accounts > Period End > Post Period Activity.

Complete postings for the month after usual checking.

• Complete

5

Finance > Parent Accounts > Listings & Reports > Ledger Trial Balance.

Run the Ledger Trial Balance with an 'Ageing Date' set to the last day of the month. 

Note the total of this report. This will be used in a subsequent Step for reconciliation against the General Ledger control account Debtors – Parent Accounts.

• Complete

6

Finance > Commercial Debtors > Period End > Post Period Activity.

Complete postings for the month after usual checking.

This step is only necessary if your school uses the Commercial Debtors module.

• Complete

7

Finance > Commercial Debtors > Listings & Reports > Debtors Trial Balance.

Run the Debtors Trial Balance choosing the 'Year/Period' for the month. 

Note the total of this report. This will be used in a subsequent step for reconciliation against the General Ledger control account Debtors - Commercial.

This step is only necessary if your school uses the Commercial Debtors module.

• Complete

8

Finance > School Shop > Period End > Post Period Activity.

Complete postings for the month after usual checking.

This step is only necessary if your school uses the School Shop module. 

If your school runs multiple school shops, you will need to:

• Log into every shop (that has General Ledger integration) using program Finance > School Shop > Setup Information > User/Shop Access.

• Run program Finance > School Shop > Period End > Post Period Activity for each shop.

• Complete

9

Finance > School Shop > Listings & Reports > Shop Trial Balance.

Run the Shop Trial Balance choosing the 'Year/Period' for the month. If your school runs multiple school shops run this for each shop.

Note the total of this report. This will be used in a subsequent Step for reconciliation against the General Ledger control account Debtors – Shop [Name].

This step is only necessary if your school uses the Commercial Debtors module.

• Complete

10

Finance > Fixed Assets > Asset Transactions > Depreciation Calculation.

After all new assets have been added for the month, and any adjustments have been processed run the depreciation calculation.

• Complete

11

Finance > Fixed Assets > Asset Transactions > Post Batches.

Post the asset transactions for the month.

• Complete

12

Finance > Fixed Assets > Listings & Reports > Asset Register.

Run the Asset Register Report for the month.  Choose the 'GL Category / GL Location' option on the 'Print' tab.

Note the total of this report. This will be used in a subsequent Step for reconciliation against the General Ledger asset accounts on the Balance Sheet.

• Complete

General Ledger

13

Finance > General Ledger > Setup Information > Years and Periods.

Close the period for all modules except the General Ledger.

• Complete

14

General Ledger.

Complete all Journals for the month.

• Complete

15

Finance > General Ledger > Cash Book > Bank Reconciliation and Reconciliation Report.

Complete your Bank Reconciliations for the month.

Run the Reconciliation Report and check that the 'Cash Book Summary' and 'General Ledger Summary' on the report are in balance.

• Complete

16

Finance > General Ledger > Account & Journal Info > Post Journals.

Complete postings for the month.

• Complete

17

Finance > General Ledger > Listings & Reports > Income Statement.

Run the report and check.

• Complete

18

Finance > General Ledger > Listings & Reports > Balance Sheet.

Run the report and check.

In particular Check:

• General Ledger control account Creditors against the total of AP Snapshot (Step 3).

• General Ledger control account Debtors – Parent Accounts against the total of Parent Accounts trial balance (Step 5).

• General Ledger control account Debtors – Commercial against the total of Commercial Debtors trial balance (Step 7).

• General Ledger control account Debtors – Shop [Name] against the total of the Shop [Name] trial balance (Step 9).

• Asset accounts against the category/location totals on the Asset Register Report (Step 12).

• Complete

Fees in Advance (if applicable to your school)

19

Student Admin > Enrolments > Listings & Reports > Enrolment Receipts Listing.

Run this report for 'Receipt Type' = 'Advance'.

Check that the total for this report equals the balance of your Fees in Advance (Liability) account on the Balance Sheet (produced in Step 18).

Your Fees in Advance (Liability) should always be the same general account as is set up in program Student Admin > Enrolments > Setup Information > Enrolment Setup on the 'Enrolments' tab.

Troubleshooting

If the two don't balance (and assuming that they were in balance at the end of the previous completed month) several errors in the processing of enrolment receipts may have occurred during the month:

1. Wrong 'Receipt Type' was entered.
   Run the Student Admin > Enrolments > Listings & Reports > Enrolment Receipts Listing for all 'Receipt Types' for the month and look for enrolment receipts that were entered with an incorrect 'Type' during the month, e.g. entered as a 'D = Deposit' instead of 'A = Fees in Advance'.
   For each receipt that is incorrect note the parent account number and use program Student Admin > Enrolments > Enrolment Information > Enrolments. Access the Parent Record, go to the 'Receipt Details' tab, edit the receipt and change the 'Receipt Type' to 'A = Fees in Advance'.
   Rerun the Enrolment Receipt Listing and recheck until balanced.

2. Enrolment receipt was incorrectly entered as a sundry receipt using the Fees in Advance (Liability) account as the GL Distribution.
   Use program Finance > Parent Accounts > Receipting > Receipts and search for 'General Sundry Receipts' and 'GL Distribution' = your Fees in Advance (Liability) account.
   For each receipt that is incorrect note the parent account number and receipt number. Use program Student Admin > Enrolments > Enrolment Information > Enrolments. Access the Parent Record, go to the 'Receipt Details' tab, Add an enrolment receipt with a 'Receipt Type' of 'A = Fees in Advance'.  Enter the receipt number from the sundry receipt.
   Rerun the Enrolment Receipt Listing and recheck until balanced.

3. Enrolment receipt was entered using 'Receipt Type' of 'A = Fees in Advance', but the General Ledger distribution was to the wrong account.

   1. Run the Student Admin > Enrolments > Listings & Reports > Enrolment Receipts Listing for 'Receipt Type' of 'A = Fees in Advance'.

   2. Use program Finance > Parent Accounts > Receipting > Receipts and search for 'Enrolment Receipts' and 'GL Distribution' = your Fees in Advance (Liability) account.
      Receipts that appear on (a) that don't appear on (b) need to be investigated. Use Finance > Parent Accounts > Receipting > Receipts and note the incorrect General Ledger account number used.
      Raise General Ledger journals to move these amounts from the incorrect General Ledger account into your Fees in Advance (Liability) account.

4. There are transactions posted to the Fees in Advance (Liability) account from other modules (e.g. Accounts Payable or General Ledger).
   Use program Finance > General Ledger > Listings > Ledger Detail Report. Enter the 'Year', 'Period' and the 'Account Code' for your Fees in Advance (Liability) account.
   Examine transactions that have a 'Journal Code' that originated from AP, GL or the Cashbook.

• Complete

Student/Family Deposits (if applicable to your school)

20

Finance > Parent Accounts > Student Deposit Refunds > Student Deposit Report.

Run this report for all students.

Check that the total for this report equals the balance of your Deposits Student/Family (Liability) account on the Balance Sheet created in Step 18.

Troubleshooting

If the two don't balance (and assuming that they were in balance at the end of the previous completed month) several errors in the processing of enrolment receipts may have occurred during the month:

1. Wrong 'Receipt Type' was entered.
   Run the Student Admin > Enrolments > Listings & Reports > Enrolment Receipts Listing for all 'Receipt Types' for the month and look for enrolment receipts that were entered with an incorrect 'Type' during the month, e.g. entered as 'A = Fees in Advance' instead of 'D = Deposit'.
   For each receipt that is incorrect note the parent account number and use program Student Admin > Enrolments > Enrolment Information > Enrolments. Access the Parent Record, go to the 'Receipt Details' tab, edit the receipt and change the 'Receipt Type' to 'D = Deposit'.
   Rerun the Student Deposit Report and recheck until balanced.

2. Enrolment receipt was incorrectly entered as a sundry receipt using the Deposits Student/Family (Liability) account as the GL Distribution.
   Use program Finance > Parent Accounts > Receipting > Receipts and search for 'General Sundry Receipts' and 'GL Distribution' = your Deposits Student/Family (Liability) account.
   For each receipt that is incorrect note the parent account number and receipt number. Use program Student Admin > Enrolments > Enrolment Information > Enrolments. Access the Parent Record, go to the 'Receipt Details' tab, Add an enrolment receipt with a 'Receipt Type' of 'D = Deposit'.  Enter the receipt number from the sundry receipt.
   Rerun the Student Deposit Report and recheck until balanced.

3. Enrolment receipt was entered using 'Receipt Type' of 'D = Deposit', but the General Ledger distribution was to the wrong account.

   1. Run Finance > Parent Accounts > Student Deposit Refunds > Student Deposit Report.

   2. Use program Finance > Parent Accounts > Receipting > Receipts and search for 'Enrolment Receipts' and 'GL Distribution' = your Deposits Student/Family (Liability) account.
      Receipts that appear on (a) that don't appear on (b) need to be investigated.  Use program Parent Accounts > Receipting > Receipts and note the incorrect General Ledger account number used.
      Raise General Ledger journals to move these amounts from the incorrect General Ledger account into your Deposits Student/Family (Liability) account.

4. There are transactions posted to the Deposits Student/Family (Liability) from other modules (e.g. Accounts Payable or General Ledger).
   Use program Finance > General Ledger > Listings > Ledger Detail Report. Enter the 'Year', 'Period' and 'Account Code' for your Deposits Student/Family (Liability) account.
   Examine transactions that have a 'Journal Code' that originated from AP, GL or the Cashbook.

• Complete

Superannuation

21

Payroll HRM > Payroll > Listings & Reports > Super Remittance File.

Run this report for the month using the 'Super Funds Contribution Report' option.

Check that the total for this report equals the balance of your Superannuation Clearing (Liability) account on the Balance Sheet (produced in Step 18).

• Complete

22

Run the following GST reports for the period or periods covered by the BAS:

1. Finance > General Ledger > Listings & Reports > GST on Cash Book Report. Run both 'Expenditure' and 'Revenue' Reports.

2. Finance > General Ledger > Listings & Reports > GST on Tax Journals Report. Run both 'Expenditure' and 'Revenue' Reports.

3. Finance > Accounts Payable > Listings & Reports > GST on Expenditure Report.

4. Finance > Parent Accounts > Listings & Reports > GST on Revenue Report.

5. Finance > Commercial Debtors > Listings & Reports > GST on Revenue Report.

6. Finance > School Shop > Listings & Reports > GST on Revenue Report. 
   If your school runs multiple school shops run this for each shop.
   These reports include a summary by Tax Code.
   Reconcile the tax total from each of the reports with the balance in the applicable General Ledger GST Control account. Use the Balance Sheet, created in Step 18.

7. Retrieve the Payroll MTD & YTD Summary Report that was generated and saved in the last pay run for the month (program Payroll HRM > Payroll > Pay Run Processing > Pay Run Reports).
   Reconcile the tax total against the General Ledger PAYG tax clearing account. Use the Balance Sheet, created in Step 18.
   Reconcile the wages against the General Ledger accounts. Use the Income Statement created in Step 17.

• Complete

23

Finance > General Ledger > BAS Processing > BAS Preparation.

Click the 'Add' button to generate the BAS Period Details Report.

Click the 'GO' button to access generated BAS.

Use 'View' then print the generated BAS.

Check the totals against the reports generated in Step 16.

The BAS Period Details Report the mappings defined in program Finance > General Ledger > BAS Processing > BAS Parameters. Check these mappings first if report totals do not match the BAS Period Details Report.

• Complete

Finalise and Close Month

24

Finance > General Ledger > Account & Journal Info > Journal.

Create, check and post your BAS Journal.

• Complete

25

Finance > General Ledger > Listings & Reports > Income Statement.

Run the final report and check.

• Complete

26

Finance > General Ledger > Listings & Reports > Balance Sheet.

Run the final report and check.

• Complete

27

Finance > General Ledger > Listings & Reports > Cash Flow Statement.

If required, run the final report and check.

• Complete

28

Finance > General Ledger > Setup Information > Years and Periods.

Close the period for the General Ledger.

• Complete