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    Month End Procedures

    Following are list of recommended procedures to be carried out at the end of each month within Infusion software

    Customers

    General Checks

    Reports

    • Customer Aged Trial Balance 
    • Sales Analysis 

    Month End Task

    • Process Customer Statements  - Customers > More Options > Customer Statements 

    Suppliers

    General Checks

    Reports

    • Supplier Aged Trial Balance - Reconcile against Supplier’s Statements 

    Products

    General Checks

    • Open Stocktakes – Post or Cancel any open stocktakes dated in or before the month just ended.  
    • Unposted Transactions – Post or delete unposted Product Transactions dated in or before the month just ended:  

    Reports

    • Product Valuation 
    • Product Status Report 

    POS

    General Checks

    Financials

    General Checks

    • Undeposited Bankings – Deposit any bankings to match the day they were received into the bank account.  There should be no undeposited bankings dated the month just ended.   
    • Unexported Direct Credits – Post any direct credits to match the day they were paid out o the bank account. There should be no unexported direct credit payments dated the month just ended. 

    Month End Tasks

    • Reconcile Bank Accounts – Ensure all bank accounts are reconciled to the end of the month.  
    • Recurring Journals  - Post any relevant recurring journals.  
    • Inventory Valuation Adjustment – Update the Balance Sheet Inventory GL and the Closing Stock GL with the current Product Valuation dated the last day of the month just ended.  
    • GST Returns – Print the GST Summary, Close the GST return.  

    Reports

         If your Profit & Loss or Balance Sheet Reports are greyed out, you have an ungrouped GL Code.      Check the Knowledge Base for more details.  Or check your Profit & Loss  layout or Balance Sheet layout and drag any ungrouped GL accounts at the bottom into the appropriate group.  

    • Trial Balance 
    • Profit & Loss 
    • Balance Sheet – Check the following: 
      • Customer Control balance equals Customer Aged Trial Balance Total 
      • Supplier Control balance equals Supplier Aged Trial Balance Total 
      • GST Liability equals GST to pay / refund from GST Summary 
      • Undeposited Funds balance equals Undeposited Bankings  
      • Unexported Direct Credits equals Unexported Direct Credits

    Admin

    Lockout Dates 

    Update the Customer Lockout date at the end of the month to prevent Customer Invoices & Adjustments being posted in the month just ended.       

    Update the Financials Lockout date once all data entry is complete.  This should be at the same time as the GST Return is closed off.  

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