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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:

Select Option 1 – Accounts Receivable and press Enter.

Select Option 2 – Monthly Routines and press Enter.

Select Option 10 – Prepare Month End and press Enter.

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

Step 2 - Daily Totals Report

Print this report for the monthly sales figures.                                                                                                 

• 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 report provides sales figures to balance accounts receivable.

From the Optifacts Main Menu:

Select Option 1 – Accounts Receivable and press Enter.

Select Option 1 - Daily Routines and press Enter.

Select Option 7 – Daily Totals Report and press Enter.

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

Step 3 - Aging Report (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 Menu:

Select Option 1 – Accounts Receivable and press Enter.

Select Option 2 – Monthly Routines and press Enter.

Select Option 1 – Aging Reports and press Enter.

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

Step 4 - Monthly Statements Report (REQUIRED)

Use this routine to print monthly statements.

• Check the statements once they have been printed.

From the Optifacts Main Menu:

Select Option 1 – Accounts Receivable and press Enter.

Select Option 2 – Monthly Routines and press Enter.

Select Option 2 – Monthly Statements and press Enter.

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

If there are outstanding items, a prompt displays to correct them before statements can run.

The error shown in the following diagram means that payments, discounts, or credits are applied for an open item account after the end date set in Prepare Month End.

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

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.

• Save this report as it needs to be rerun after the update is complete.

From the Optifacts Main Menu:

Select Option 1 – Accounts Receivable and press Enter.

Select Option 2 – Monthly Routines and press Enter.

Select Option 3 – Account Summary Report and press Enter.

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

Step 6 - Cash Receipts Report

Print this report 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 report provides cash receipts figures to balance accounts receivable.

 From the Optifacts Main Menu:

Select Option 1 – Accounts Receivable and press Enter.

Select Option 3 – Other Routines and press Enter.

Select Option 1 – Cash Receipts Report and press Enter.

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

Step 7 - Tax Report (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 Menu:

Select Option 1 – Accounts Receivable and press Enter.

Select Option 2 – Monthly Routines and press Enter.

Select Option 4 – Tax Report and press Enter.

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

Step 8 - Commission Report (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 Enter.

Select Option 2 – Monthly Routines and press Enter.

Select Option 5 – Commission Report and press Enter.

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

Step 9 - Customer Ranking Report (Optional)

This report ranks customers by the amount of business that they have done. It can run by purchases or by balances. Running by purchases shows what the customer purchased most from the lab. Running by balances shows if a particular customer is not paying their bill. 

From the Optifacts Main Menu:

Select Option 1 – Accounts Receivable and press Enter.

Select Option 2 – Monthly Routines and press Enter.

Select Option 6 – Customer Ranking and press Enter.

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

Step 10 - Check Statements for Accuracy (REQUIRED)

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

Step 11 - Backup (REQUIRED)

Step 12 - Run the End of Month Update (REQUIRED)

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.

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

From the Optifacts Main Menu:

Select Option 1 – Accounts Receivable and press Enter.

Select Option 2 – Monthly Routines and press Enter.

Select Option 8 - End of Month Update and press Enter.

• Follow the on-screen prompts by pressing 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.
• Do the End of Month Update as soon as possible after the backup.
• Run as soon as possible after the final statement run. RUN ANOTHER BACKUP if changes were processed, or a week or more has passed since the statement run, and a backup did not occur. Label it the same as above with the new date added.

Step 13 - Run another Account Summary Report 

Compare this summary with the summary run after the 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 Menu:

Select Option 1 – Accounts Receivable and press Enter.

Select Option 2 – Monthly Routines and press Enter.

Select Option 3 – Account Summary Report and press Enter.

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

Step 14 - Run another Aging Report

From the Optifacts Main Menu:

Select Option 1 – Accounts Receivable and press Enter.

Select Option 2 – Monthly Routines and press Enter.

Select Option 1 – Aging Reports and press Enter.

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

Step 15 - Run the Account History Report (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 Menu:

Select Option 1 – Accounts Receivable and press Enter.

Select Option 2 – Monthly Routines and press Enter.

Select Option 9 – History Report and press Enter.

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

To view and download these instructions as a PDF file, click on the following document image.

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