--- title: "Debtors Month End Close Procedures" canonical: "https://kb.myframeworks.com.au/space/PROSTIXV48DOC/31097028/Debtors%20Month%20End%20Close%20Procedures" format: markdown --- Goal: Outlined below are the basic procedures that should be followed as part of your Month End Close: Steps: 1. Run the Unallocated Cash Report This report should be run to check for any unallocated customer payments. Make sure any unallocated payments that are found on the report are allocated before proceeding. 1a. From the 'Main Menu' take options - 'Accounts Receivable' - 'Reporting' - 'Unallocated Cash Payments' . 1b. Choose the output option to print the report to. 1c. If the report lists any unallocated payments in the 'Current' column, allocate the payments. 2. Print/Send Invoices for the month This may not be necessary if you print all your invoices throughout the month. 2a. From the 'Main Menu' take options - 'Accounts Receivable' - 'Invoices & Statements' - 'Print Invoices' . 2b. Complete the range selections and other prompts and press/click . 2c. Choose your output option. The invoices will then start to print. 3. Apply Administration Fees or Interest Charges This provides an option to charge account keeping fees or interest to overdue accounts. 3a. From the 'Main Menu' take options - 'Accounts Receivable' - 'Month End Processing' - 'Administration Fees' . 3b. Complete the ranges and options presented and press to process. 3c. Choose your output option for the resulting report. 4. Print the Debtors Aged Trial Balance 5. Print the Debtors Monthly Summary without detail. 6. Export the Debtors Monthly Summary with detail. 7. Do a Monthly Statement run Even if you don't want to physically print the statements at that point in time, you can always send them to a text file, to print at a time that suits you better. 8. End of Month Close Once all of the above have been done you may run the End of Month Close for debtors. This should be run as close to the end of month as possible. This is the one step in the process that must be done when all other users have logged off from the system. NO