This is a General Ledger month-end report. This should be run, with detail, at the end of every month. It should be kept in a permanent binder or if you have the optional e-mail package, e-mail the report to yourself & save.
There are a few things that can be verified on this report:
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The end-of-the-month G/L account for Accounts Receivable should equal the balance on the Accounts Receivable Aged Trial Balance.
- For Example: When the Accounts Receivable Module was balanced at the end of August 20xx an A/R Aged Trial Balance was printed and the Cutoff Grand Total was $625,347.17. In the General Ledger Module after everything was posted for August 20xx, a G/L Trial Balance was printed. If the A/R General Ledger # is, for example: 105-00-01, its August Ending balance should also be $625,347.17.
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The end-of-the-month G/L account for Accounts Payable should equal the balance on the Accounts Payable Aged Trial Balance.
- For Example: When the Accounts Payable Module was balanced at the end of August 20xx an A/P Aged Trial balance was printed and the Grand Total was $416,307.10. In the General Ledger Module after everything was posted for August 20xx, a G/L Trial Balance was printed. If the Accounts Payable General Ledger # is, for example: 305-00-01, its August Ending balance should also be $416,307.10.
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The G/L account for the checking accounts should equal your reconciliation.
- For Example: When you balanced the bank statement for August 20xx if everything had cleared the bank your checkbook balance would be, for example: $325,205.20. In the General Ledger Module after everything was posted for August 20xx, a G/L trial balance was printed. If the Michigan Bank’s General Ledger # is, for example: 102-00-01, its August Ending balance should be $325,205.20.
- If you have any clearing accounts with activity, but should always have a zero balance, those accounts should be reviewed. Or, for example, if the Truck Allowance account is usually about $10,000.00 per month and this month it is up to$30,000.00, you may want to review the activity in the account.
When printing the G/L Trial balance for month-end answer prompts as follows:
- G/L transaction dates: Start 08/01/xx End 08/31/xx
- G/L account numbers: ALL
- G/L department numbers: ALL
- G/L transaction numbers: ALL
- G/L Statement codes: ALL
- G/L division numbers: ALL
- (Optional) G/L sub-divisions: ALL
- Print transaction detail (Y/N): Y
- Print zero balance account? (Y/N): N
- Single, Double, Triple spaced: (S,D,T):
- Print order: Acct # or Statement code? (A,S):A
- Print department* digits subtotals? (Y/N): Y or N
- Print major* account subtotals? (Y/N): Y or N
- Print major* account summary? (Y/N): Y or N
* The wording on lines 12, 13 and 14 can be changed to reflect something more meaningful to the user. The ‘department’ is the middle 2 digits; ‘major’ represents the first 3 digits of the G/L account number. To change the wording, go to:
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General Ledger (Module 4)
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System Management Functions (Task 32)
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Modify Parameter Files ( Sub-task 22)
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G/L Trial Balance Parameters (Selection 2)
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Look for the following parameters:
- INI'DEPT'DESC=
- INI'MAJOR'DESC=
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Look for the following parameters:
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G/L Trial Balance Parameters (Selection 2)
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Modify Parameter Files ( Sub-task 22)
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System Management Functions (Task 32)