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Recommended month-end closing procedures

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Summary

We've outlined an overview of the recommended month-end processes for Sage 300 CRE applications.

Resolution

CAUTION:

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Sage 300 CRE recommends that you perform the month-end tasks for each application in the following order.

Before you begin

Make a backup of your data.

Accounts Payable

  1. Post invoices
  2. Print checks
  3. Record manual checks
  4. Check for any unposted items
  5. Print month-end reports
  6. Reconcile with General Ledger
  7. Back up data files

Payroll

  1. Post checks
  2. Print month-end reports
  3. Reconcile with General Ledger
  4. Make any necessary corrections
  5. Check new.prt for any unposted items and correct (Inquiry, Check Information, Check Activity - select new file)
  6. Back up data files
  7. Close month

Billing

  1. Create invoices
  2. Post invoices
  3. Check the Inquiry, Transactions for any transactions for current cost-based job transaction
  4. Remove unwanted or junk entries from the New.blt file

Accounts Receivable

  1. Post invoices
  2. Verify everything is posted by running Inquiry, Entries, Transactions and select the new and active files
  3. If unposted items exist, make corrections or post
  4. Print month-end reports
  5. Reconcile with General Ledger 
  6. Make any necessary corrections
  7. Back up data files

Contracts

  1. Post entries
  2. Verify everything posted by running Inquiry, Other, Unposted Items
  3. If unposted items exist, make corrections or post
  4. Print month-end reports
  5. Back up data files
  6. Close month

Equipment Cost

  1. Post entries
  2. Print month-end reports
  3. Reconcile with General Ledger
  4. Make any necessary corrections
  5. Back up data files
  6. Close month

Job Cost

  1. Post entries
  2. Go to Inquiry, Entries, All Entries or Entries by Batch and select the New file
  3. Verify all entries posted
  4. Make corrections or post
  5. Print month-end reports
  6. Reconcile with General Ledger
  7. Make any necessary corrections
  8. Back up data files
  9. Close month

Property Management

  1. Post entries
  2. Print month-end reports
  3. Reconcile with General Ledger
  4. Make necessary corrections
  5. Back up data files
  6. Close current period

Cash Management

  1. Post entries
  2. Reconcile to your bank statement
  3. Print month-end reports
  4. Back up data files

General Ledger

  1. Post entries
  2. Verify everything posted by going to Inquiry, Entries by Batch
  3. If a batch exists, research, correct, and post
  4. Print month-end reports
  5. Reconcile with interfacing applications
  6. Make any necessary corrections
  7. Back up data files
  8. Reprint month-end reports if corrections were made
  9. Close current period

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