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Click here to view the Accounts Receivable Statements and Month End menu.

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Table of Contents (on this page)

Table of Contents
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Introduction:

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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 menuMain Menu:

Type Select Option 1 – Accounts Receivable and press enterEnter.

Type Select Option 2 – Monthly Routines and press enterEnter.

Type Select Option 10 – Prepare Month End and press enterEnter.

  • Follow the on-screen prompts pressing enter Enter past each field.
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Step 2 - Daily Totals Report

Print this report for the monthly sales figures

by material.

.                                                                                                 

  • Use the first billing day of the month as the start date and the last billing day of the month as the ending date. This will give you a sales figure report provides sales figures to balance to accounts receivable.
Info
Note:

If you ended the previous month on the

29th,

29th i.e.

due

, due to a weekend, you must run this report starting on the

30th of

30th of the previous month in case some work

was

got processed over the weekend.

Note: 

For G/L month-end, print this report again using the first day of the month as the start date and the last day of the month as the end date.  This

will give you

report provides a sales figure to balance

to

the G/L month.

From the Optifacts

main menu

Main Menu:

Type

Select Option 1 – Accounts Receivable and press

enter

Enter.

Type Select Option 1 - Daily Routines and press enterEnter.

Type Select Option 7 – Daily Totals Report and press enterEnter.

  • Follow the on-screen prompts by pressing enter Enter past each field.
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Step 3 - Aging Report (

optional

Optional)

Print this report for aged account balances.

The Aging Report will provide Account Aging Data on all accounts with a balance. There are several options when preparing the report. You can print for one account, a group of accounts, one territory, or a group of territories. You can print this report to the screen or a printer. 

Dates:

  • Last month’s open item aging date (for open item accounts if you have any) – this date would be the first date of the current billing cycle.
  • Inclusive beginning date of this billing period – this date would be the first date of the current billing cycle.
  • Include invoices dated through – the date would be the last date of the current billing cycle.

From the Optifacts main menuMain Menu:

Type Select Option 1 – Accounts Receivable and press enterEnter.

Type Select Option 2 – Monthly Routines and press enterEnter.

Type Select Option 1 – Aging Reports and press enterEnter.

  • Follow the on-screen prompts by pressing enter Enter past each field.
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Step 4 - Monthly Statements Report (

required

REQUIRED)

Use this routine to print monthly statements.

  • Check the statements once they have been printed.

From the Optifacts main menuMain Menu:

Type Select Option 1 – Accounts Receivable and press enterEnter.

Type Select Option 2 – Monthly Routines and press enterEnter.Type

Select Option 2 – Monthly Statements and press enterEnter.

  • Follow the on-screen prompts by pressing enter Enter past each field.
Note

‘Is this the first statement run of the month?’ is a

very important

crucial question.

When you answer

‘Y’

‘Y,’ the information produced during the compiling of the 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’

‘N,’ or the information for the summary report for all other accounts

will be

is 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

about what happened previously, run the statements to the screen for all accounts with a

‘Y’

‘Y.’

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If there are outstanding items, you will be prompted a prompt displays to correct them before a statement statements can be run.

This

The error shown in the following diagram means that

a payment

payments,

discount

discounts, or

credit was entered

credits are applied for an open item account after the end date

that is

set in

the

Prepare Month End.

Note

Please unapply the amount(s)

 

via menu 1-1-9, then remove the payment (menu 1-1-3). If you do not do both of these steps in the order specified, then the account may be out of balance.

If the transaction is deleted without unapplying the amount, then an adjustment to the record with unapplied amounts is required.

Image RemovedThe other option is to go through each order by order and remove amounts applied through 1-1-9.  Remove Applied Amounts until there's enough in the unapplied amount to allow the deletion of the payment.

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Step 5 - Account Summary Report

This report uses the data from the SUMM table in the previous step. It provides Account Summary Information including, Opening Balance, Purchases, Payments, Discounts, Credits, etc.

You can print this report by Company, Branch, and Territory. You can sort the report by Account Number, Account Name, Purchases, or Balance Due. You can print the report to the screen or a printer.

Info

The data on this report is for the current month only and will only output data generated by the most recent Account Statement Run.

  • Save this report as you will need to run this report again it needs to be rerun after the update is complete.
Note

The two reports MUST MATCH. If they do not match, the system

will tell you

presents a message that someone has done something to an account that

will need

needs to be researched and corrected.

From the Optifacts main menuMain Menu:

Type Select Option 1 – Accounts Receivable and press enterEnter.

Type Select Option 2 – Monthly Routines and press enterEnter.

Type Select Option 3 – Account Summary Report and press enterEnter.

  • Follow the on-screen prompts by pressing enter Enter past each field.
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Step 6 - Cash Receipts Report

Print this report

for a record of payments

to list payments and discounts received during the month. It also shows the date the last payment was received. You can generate the data per Company, Branch, Territory, or Account. You can also select only Balance Forward Accounts, Open Item Accounts, or a combination of the two. Generate the data you select for a date range or all-inclusive. You can choose to output the data to the screen or a printer.

  • Use the first billing day of the month as the start date and the last billing day of the month as the ending date. This will give you a report provides cash receipts figure figures to balance to accounts receivable.
Note:
Info

For the G/L month-end, print this report again using the first day of the month as the start date and the last day of the month as the end date. This

will give you a

report provides cash receipts

figure

figures to balance

to

the G/L month.

 From the Optifacts main menuMain Menu:

Type Select Option 1 – Accounts Receivable and press enterEnter.

Type Select Option 3 – Other Routines and press enterEnter.

Type Select Option 1 – Cash Receipts Report and press enterEnter.

  • Follow the on-screen prompts by pressing enter Enter past each field.
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Step 7 - Tax Report (

optional

Optional)

Run this report for taxes that have changed. This report gives you tax information for a specific period.  You can print a summary or detail report and can print for one account, a range of accounts, or all accounts.  You can print the data to the screen or to a printer.

From the Optifacts main menuMain Menu:

Type Select Option 1 – Accounts Receivable and press enterEnter.

Type Select Option 2 – Monthly Routines and press enterEnter.

Type Select Option 4 – Tax Report and press enterEnter.

  • Follow the on-screen prompts by pressing enter Enter past each field.
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Step 8 - Commission Report (

optional)

From the Optifacts main menu:

Type

Optional)

This report outputs Sales for a particular Company and Branch within a sales Territory for a specified date range. Other options include combining VSP and Safety work with Dr’s work and including active or on-hold accounts. You can output the data to the screen or a printer.

From the Optifacts Main Menu:

Select Option 1 – Accounts Receivable and press enterEnter.

Type Select Option 2 – Monthly Routines and press enterEnter.

Type Select Option 5 – Commission Report and press enterEnter.

  • Follow the on-screen prompts by pressing enter Enter past each field.
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Step 9 - Customer Ranking Report (

optional

Optional)

This report ranks customers by the amount of business that they have done. You It can run it by purchases or by balances. Running by purchases allows you to see shows what the customer purchased most from your the lab. Running by balances will also tell you if that shows if a particular customer is not paying their bill. Therefore, although you may have a customer who uses your lab a lot, they might not be a good customer. 

From the Optifacts main menuMain Menu:

Type Select Option 1 – Accounts Receivable and press enterEnter.

Type Select Option 2 – Monthly Routines and press enterEnter.

Type Select Option 6 – Customer Ranking and press enterEnter.

  • Follow the on-screen prompts by pressing enter Enter past each field.
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Step 10 - Check Statements for Accuracy (

required)

REQUIRED)

Warning
titleEssential

This step is

very important

essential so that the customer does not receive an inaccurate statement. Reviewing

them will save you

the statements saves a lot of time during the month if

you notice

something is wrong.

  • Check the figures on the Statements.
  • Balance all figures as you
normally
  • usually would.
  • Check the figures on the Statements.
  • Balance all figures as you usually would.

Step 11 - Backup (

required)Note:

REQUIRED)

Warning
titleBackup!

Wait to run the month-end update until the nightly backup has occurred.  Also, save that backup for 2-3 months.

info

           *** If the backup does not complete ***

(i.e. a power failure occurs during the update process)

        ***

contact

Contact Optifacts before continuing. ***

  • Label the tape
“statement
  • 'statement backup – mm/dd/
yy”
  • yy.'
  • Store in a safe place and do not re-use the tape for 2 months.
icon
Info
false

Be sure that the accounting month has

been

closed and the above steps have been completed.

Step 12 - Run the End of Month Update (

required

REQUIRED)

info

This routine updates and ages all account balances.

Warning
titleWarningMonth-end Update

ONLY DO THIS ONCE – NEVER MORE THAN ONCE

This routine updates and ages all account balances
  • Before running this routine, make sure all statements are correct, AR balances, accounting figures, balances, and a backup done.
  • Run this routine after the accounting month has closed, and the Daily Totals Report is printed and balanced for the accounting month.


Note
titleCaution

*** While this routine is running, do not do any other work on the system. ***

 *** Shipping must stop before running the update. Choose a point to stop mailing anything out and then run the update until finished. ***

If this is interrupted by a power failure before finishing, call Optifacts before continuing.


From the Optifacts main menuMain Menu:

Type Select Option 1 – Accounts Receivable and press enterEnter.

Type Select Option 2 – Monthly Routines and press enterEnter.

Type Select Option 8 - End of Month Update and press enterEnter.

  • Follow the on-screen prompts by pressing enter Enter past each field. The dates are auto-populated from the dates set in Prepare Month End and should not be changed. Contact Optifacts Support if you have questions.
  • Run Do the End of Month Update as soon as possible after the backup as possible.
  • Run as soon as possible after the final statements are statement run as possible. If not done for . RUN ANOTHER BACKUP if changes were processed, or a week or more after the statements are run, or if you have made any changes, RUN ANOTHER BACKUP. Label has passed since the statement run, and a backup did not occur. Label it the same as above with the new date added.


Info
titleWarning

*** If the backup update does not complete (i.e., a power failure occurs during the update process), contact Optifacts before continuing. ***

 

DO NOT RUN THE UPDATE MORE THAN ONCE

Step 13 - Run another Account Summary Report 

Compare this summary with the summary run after the statements were statement run. The two reports MUST MATCH EXACTLY.

  • If they do not match, find the accounts that are different.
  • Contact Optifacts.

From the Optifacts main menuMain Menu:

Type Select Option 1 – Accounts Receivable and press enterEnter.

Type Select Option 2 – Monthly Routines and press enterEnter.

Type Select Option 3 – Account Summary Report and press enterEnter.

  • Follow the on-screen prompts by pressing enter Enter past each field.
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Step 14 - Run another Aging Report

From the Optifacts main menuMain Menu:

Type Select Option 1 – Accounts Receivable and press enterEnter.

Type Select Option 2 – Monthly Routines and press enterEnter.

Type Select Option 1 – Aging Reports and press enterEnter.

  • Follow the on-screen prompts by pressing enter Enter past each field.
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Step 15 - Run the Account History Report (

optional)

Optional)

This report outputs Account Balance and Invoice History. It compares the current month you are printing for to the same month a year ago, gives you totals for each of the past 12 months, and gives you a total. In addition, you can output information for a particular company, branch, territory, and account and choose to view the data on the screen or print to a printer.

From the Optifacts main menuMain Menu:

Type Select Option 1 – Accounts Receivable and press enterEnter.

Type Select Option 2 – Monthly Routines and press enterEnter.

Type Select Option 9 – History Report and press enterEnter.

  • Follow the on-screen prompts by pressing enter Enter past each field.
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To view and download these instructions as a PDF file, click on the following document image.

View file
nameMonth-End and Statements.pdf
height250

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