This is a basic check list for the monthly General Ledger procedures, see document titled G/L Month-End Closing Procedures. This is based on posting the Interfaces from each module only once per month and also obtaining the Recurring J/E at the month end. You need to decide the best process for your company and create a G/L Check List for yourself.
The individual modules, Accounts Receivable and Accounts Payable, have their own set of month-end balancing procedures, spreadsheets, reports and check lists. Those should be followed and completed before these procedures are started. See documents titled:
- Balancing Accounts Receivable Daily and Monthly
- A/R Balancing Accounts Receivable Daily and Monthly
- A/R End of Month Reports & Procedures
- A/R End of Month Checklist
- A/P Daily Balancing
- A/P Daily Balancing Spreadsheet Example
- Accounts Payable Monthly Procedures - Interfacing Once a Month
In General Ledger (Module 4):
- ________Post Interface Transactions (Task 2), P/R (if applicable), A/P and A/R
- ________Manual TRX Entry & Editing (Task 1). Verify that the Header and Detail record count is zero
________Manual TRX Entry & Editing (Task 1), Obtain recurring journal entries (Sub-task 9).
- ________Make corrections and changes to the recurring journal entries (Sub-task 2) Change existing transaction.
- ________Add other miscellaneous journal entries using: Manual TRX Entry & Editing (Task 1 ), Enter (ADD) New Transaction (Sub-task 1)
- ________In Manual TRX Entry & Editing (Task 1), print the transaction edit list (Sub-task 4), for all transactions. Verify all transactions correct.
- ________In Manual TRX entry & Editing (Task 1), Post transaction records to G/L files (Sub-task 5). Type in YES at the prompts and save posting.
· ________Print the GL Trial Balance (Task 9)
· ________Print the Financial Statements (Task 10)
· ________Verify Accounts Receivable G/L account
· ________Verify Accounts Payable G/L account
· ________Verify checking account