A/R Month End Procedure

Accounts Receivable Overview Information Guide -> A/R Month End Procedure

At Month End, the steps below should be completed before proceeding with the next month's activity. Generally, this means these steps are done on the last working day of the month.

•Daily Maintenance:
 Complete all Daily Maintenance first as outlined in Daily / Weekly Procedures.
 e.g. all invoices and payments are posted

•Customer Account Clear:
 Run Clear Unapplied Balances utility to clear up any accounts with zero account balances that have payments and invoices of equal value that were not applied to each other.

•Finance Charges:
 Generate and post the Finance Charges from Calculate Finance Charges and Post Finance Charges if applicable.

Process flow for an A/R Customer Finance Charges:
 

•Customer Monthly Statements:
 

oRun Fax Statement first, (if applicable) and follow up on failed faxes before proceeding with the printed Customer Statements.

oRun Customer Statements.

•Agree A/R to G/L:
 Print Aged A/R Summary Report and balance the Aged A/R Report total to the Accounts Receivable account in the General Ledger.
 Refer to Aged A/R Summary for detailed instructions.

•Update Credit History:
 Run Capture Credit History to write a Credit History record for the month to the Credit History log for each customer

•Roll Over Date Control:
 After all daily and month end maintenance is completed, change the date range allowed for Accounts Receivable entry to the next month using Date Range Control .

•Housekeeping:
 Every six months, or sooner for larger firms, run Purge A/R History .

Topic Keyword: AR0004