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Fastbase Accounting System - Online Manual

Accounts Receivable Period End

Document 102438/1

Entered Fri, 1 Nov 2002 15:11 by Peter Campbell
Updated Thu, 9 Sep 2004 16:13

  1. Process any standing transactions (Transactions, Process Standing Transactions).
  2. Ensure all accounts receivable transactions (invoices, receipts, journals etc.) have been entered for the period.
  3. The bank account should be reconciled up to the period end.
    Once period end processing has been run you will not be able to maintain receipts in the closed period.
  4. Run period end processing for the accounts receivable module (Processing, Period End).

    If you have overseas customers you will be prompted to enter/confirm the exchange rates for the various currencies in use. The entered rates are used to update unpaid transactions to the general ledger and for reporting purposes.

    This process closes all batches for the old period and changes the current period end date to the new period.

    Note: when running the period end process you will have the option to automatically disable all overdue customers. This option can be defaulted, see Setup.dat - Customer for details, re: setup(disable_overdue_customers).

  5. Run a Customer Aged Trial Balance and Customers/Invoicing Audit Trail as required.

  6. Run statements for the period (Print Customer Statements).

Note that more than one period may be open at the same time - transactions may be entered into the current period and/or any future period.

Cost of sales/gross figures should not be treated as final until inventory period end processing has been run.

Reversing the Period End Procedure

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