BC Month-end checklist
Introduction
You can use this checklist as a guide when you are ready to close an accounting month in the 365 Business Central system. There are no specific processes to run within 365 to close a month. The key to closing a period is changing the posting dates to close out users from posting into a prior period.
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Run Depreciation |
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Ensure Customer and Vendor invoices applicable to the current period are posted |
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Post Vendor / Customer Payments applicable to the current period |
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Set Posting Date controls – General Ledger Setup | General Ledger Setup – Allow Posting From / Allow Posting To dates. This is a global setting for all users | ||
Set Posting Date controls – Special Users – User Setup | User Setup – this is to manage a user by exception. Example: An accountant user will be posting month-end journal entries, the user's posting dates can be set to override the dates set in the General Ledger Setup | ||
Post regular and/or recurring journals required (Payroll, Accruals, etc.) |
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Print Financial reports |
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Validate Accounts Receivable to GL Balance | Run Aged Receivables report with the Month end date, ensure this ties to the trial balance | ||
Validate Accounts Payable to GL Balance | Run Aged Payables report with the Month end date, ensure this ties to the trial balance | ||
Perform Bank Reconciliations |
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