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Introduction:
This document provides instructions for processing End of Month in Accounts Receivable.
Procedure:
Step 1 - Prepare Month End
From the Optifacts main menu:
Type 1 – Accounts Receivable and press enter.
Type 2 – Monthly Routines and press enter.
Type 10 – Prepare Month End and press enter.
- Select the Prepare Month End option and enter the date values for the month pressing Enter past each field.
Step 2 - Daily Totals Report
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From the Optifacts main menu:
Type 1 – Accounts Receivable and press enter.
Type 1 - Daily Routines and press enter.
Type 7 – Daily Totals Report and press enter.
Step 3 - Aging Report (optional)
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From the Optifacts main menu:
Type 1 – Accounts Receivable and press enter.
Type 2 – Monthly Routines and press enter.
Type 1 – Aging Reports and press enter.
- Follow the on screen prompts.
Step 4 - Monthly Statements Report (required)
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From the Optifacts main menu:
Type 1 – Accounts Receivable and press enter.
Type 2 – Monthly Routines and press enter.
Type 2 – Monthly Statements and press enter.
- ‘Is this the first statement run of the month?’ is a very important question. When you answer ‘Y’ the information produced during the compiling of statement run for printing the summary report replaces all the information currently saved. The information is removed and replaced with the newly created information. Therefore, you want to answer ‘Y’ only if you are running for all accounts and only if you have not already run statements for the month previously. If you run for fewer than all accounts, you must answer ‘N’ or the information for the summary report for all other accounts will be lost. You must determine when to answer ‘Y’ and when to answer ‘N’ before proceeding. If in doubt, or not sure what has been done previously, run the statements to the screen for all accounts with a ‘Y’.
Step 5 - Account Summary Report
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From the Optifacts main menu:
Type 1 – Accounts Receivable and press enter.
Type 2 – Monthly Routines and press enter.
Type 3 – Account Summary Report and press enter.
- Follow the steps in the example shown below.
Step 6 - Cash Receipts Report
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From the Optifacts main menu:
Type 1 – Accounts Receivable and press enter.
Type 3 – Other Routines and press enter.
Type 1 – Cash Receipts Report and press enter.
- Follow the steps in the example shown below.
Step 7 - Tax Report
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From the Optifacts main menu:
Type 1 – Accounts Receivable and press enter.
Type 2 – Monthly Routines and press enter.
Type 4 – Tax Report and press enter.
- Follow the steps in the example shown below.
Step 8 - Commission Report
From the Optifacts main menu:
Type 1 – Accounts Receivable and press enter.
Type 2 – Monthly Routines and press enter.
Type 5 – Commission Report and press enter.
- Follow the steps in the example shown below.
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From the Optifacts main menu:
Type 1 – Accounts Receivable and press enter.
Type 2 – Monthly Routines and press enter.
Type 6 – Customer Ranking and press enter.
- Follow the steps in the example shown below.
Step 10 - Check Statements for Accuracy (required)
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From the Optifacts main menu:
Type 1 – Accounts Receivable and press enter.
Type 2 – Monthly Routines and press enter.
Type 7 – Backup Utilities and press enter.
- Follow the onscreen prompts.
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| Info | ||
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Be sure that the accounting month has been closed and the above steps have been completed. |
Step 12 - Run End of Month Update (required)
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ONLY DO THIS ONCE – NEVER MORE THAN ONCE |
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From the Optifacts main menu:
Type 1 – Accounts Receivable and press enter.
Type 2 – Monthly Routines and press enter.
Type 8 - End of Month Update and press enter.
- Follow the onscreen prompts.
- Run as soon after the backup as possible.
- Run as soon after the final statements are run as possible. I If not done for a week or more after the statements are run, or if you have made any changes, RUN ANOTHER BACKUP Label . Label it the same as above with the new date added.
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Step 13 - Run another Account Summary Report (required)
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Compare this summary with the summary run after the statements were run. The two reports MUST MATCH EXACTLY.
- If they do not match, find the accounts that are different.
- Contact Optifacts.
From the Optifacts main menu:
Type 1 – Accounts Receivable and press enter.
Type 2 – Monthly Routines and press enter.
Type 3 – Account Summary Report and press enter.
- Follow the steps in the example shown below.
Step 14 - Run another Aging Report
From the Optifacts main menu:
Type 1 – Accounts Receivable and press enter.
Type 2 – Monthly Routines and press enter.
Type 1 – Aging Reports and press enter.
- Follow the on screen prompts.
Step 15 - Run the Account History Report
From the Optifacts main menu:
Type 1 – Accounts Receivable and press enter.
Type 2 – Monthly Routines and press enter.
Type 9 – History Report and press enter.
- Follow the on screen prompts.
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