AR/SO Month End Checklist

Sales Order

1. Remove backorder quantities from shipped orders before posting

    

   If a backorder was recreated following post, the backorder transaction can be deleted.

   

2. Post all transactions and move all backorders to an isolated batch (optional)

   

3. Verify all invoiced orders have been posted

   

4. Approve returned order quantities to stock and post returned quantities

   

   

5. Run SO periodic processing to delete old quotes and RMA (optional)

   

6. Update system pricing: contract pricing, customer pricing, price structures, and promotional pricing

   

7. Clear sent emails and archived documents from SO using regular monthly schedule

   

   

   Note: Prior to purge documents can be exported to a zip file

8. Close SO in SM – Period Conversions

   

Back to top of page

Accounts Receivable

1. Process all external payments to a batch for posting

   

2. Verify all AR transaction (invoices and cash receipts) are entered and post transactions

   

   

3. Review foreign exchange gain and loses and post unrealized gains and losses to the GL

   

4. Prepare & post AR commissions (optional if using commission processing)

   

5. Calculate finance charges (optional)

   

   Note: finance charges are not applied to account until periodic processing is completed

6. Print/ email customer statements

   

7. Run AR periodic processing

   

   1. Note: this function will clear customer statements and put finance charges on the customer’s account
   2. Note: we don’t advise deleting paid invoices as this will impact your ability to accurately run a historical Aged Trial Balance report.
8. Reconcile AR account(s) to the General Ledger

   

   

   

9. Clear sent emails and archived documents from PO using regular monthly schedule

   

   

10. Close AR in SM – Period Conversions

    

Back to top of page