Last updated 02 April 2024

Checking Transactions for Month-End

To support accounting processes, complete the following tasks for purchase, sales, and income and expenditure ledgers:

For location specific ledgers, the tasks must be completed for each location's ledger.

Ledger Title	Tasks to complete
PURCHASE - Purchase Accounts	For all suppliers: Make sure all credit notes, invoices, and payments have been posted and allocated Run the Aged Creditors report, then reconcile against the transactions for creditor control nominals Complete a final payment run Make sure all: Direct debits and standing orders are posted and allocated Post reimbursements for recharges
Sales Accounts	For all accounts in the Sales Accounts ledger for each location: Make sure all invoices and credit notes have been issued Send chase letters or statements for any outstanding sales invoices (SINV) Post receipts for received sales invoice payments To identify documents that must be allocated, run the Aged Debtors report
Staffing Accounts	Post all expense claims Make payments to staff
Student Accounts	Send chase letters or statements for outstanding payments Record any payments from students and receipt details
Petty Cash Accounts	Post all petty cash expenses Reconcile the Petty Cash Tin Control account with the Trial Balance If required, top-up the Petty Cash Tin account
Credit Card Accounts	Post all credit card expenses Reconcile credit card statements Post direct debit credit card payments to the Credit Card Control nominal
Various (Other Income)	Post all transactions for: Grant Income Prepare any supporting documentation for grant income and expenditure