Period Close Checklist in AR

■ Complete manual payments and adjustments for the period (including cleanup of ‘Out of Balance’ batches)

■ Check and Complete final Receivables Interface from Order Management

■ Complete manual invoices, DEBIT Memos and credit memos

■ Run your final Auto Invoice process

■ Correct ALL Auto Invoice rejects and re-run

■ Clear all receipts from Cash Management

■ Apply receipts against Invoices and Debit Memos

■ Review the Unapplied Receipts Register

■ Reconcile receipts

■ Apply Credit memo to Debit Memo and Invoices

■ Approve or reject ALL Pending Adjustments

■ Complete or delete ALL ‘Incomplete’ invoices

■ Complete or delete ALL ‘Incomplete’ credit memos

■ Correct and post ALL open Lockbox batches (If Lock Box Implemented)

■ Print Dunning (Reminder) Letters (Optional)

■ Run Journal Entries Reports

■ Review Journal Entries reports for ‘unusual’ accounts and correct as needed

■ Run Period End Reports

■ Balance to the Aged Trial Balance

■ Post to the General Ledger using the period start date through the period end date - Verify all the steps.

■ Close the period - verify that there are no items in error

■ Open the next period and the next Future period

■ Post Journal Entries (In General Ledger)

■ Balance to the General Ledger (for the key accounts)