Monthly Reports

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Monthly Reports

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Monthly Reports

These reports may be printed at anytime over any range of dates specified, however it is a good idea to print them at the end of each month and verify for accuracy and a continued state of being "in-balance".



TUTORIAL SCENARIO

Execute each of the steps below for Company Number 01 and all other values as shown in the respective images EXCEPT FOR DATES. Use dates that will apply to the dates you entered earlier in the tutorial for your transactions.  Refer to the respective Notes on Fields if you need more info.  When finished with each section Return to the Tutorial.


Follow the steps below to print and verify the Period (Monthly) reports .


1.  PRINT, VERIFY AND SAVE THE FOLLOWING REPORTS

A/R Inquiry Report, listing invoices with balance of zero.  Compare A/R Inquiry report to GL Number = 11300 of the Trial Balance.


A/P Inquiry Report, listing invoices with balance of zero.  Compare A/P Inquiry report to GL Number = 21000 of the Trial Balance.


If you have Suspense balance, print the Non Released Suspense Summary report and compare life to date total to GL  number = 21010 of the Trial Balance, which is printed later.


If you have Minimum Withhold amounts, print the Minimum Withhold Summary report and compare the year to date total to GL number = 21011 of the Trial Balance, which is printed later.


If you have Prepay amounts, print the Prepayment report and compare the prepay balance to your GL number for prepayments - usually something like 21050 - in the Trial Balance,  which is printed later.


Print a Company Preliminary Profit and Loss Statement and Balance Sheet.  Stressing the Net profit should be the same on the gross side as on the Company side.  We get a lot of questions on this.  Clients close a period do not print the P&L and any difference keeps accumulating to the year to date.  If they don't match, see example of how they are computed in Frequent Questions for Period Close.



2.  PRINT,  VERIFY & SAVE THESE REPORTS ON A MONTHLY BASIS


Manually verify all Reports for following:

  Transaction file totals to zero.

  Trial Balance totals to zero.

  AP Posting Register period Total should equal the AP period Total in the Trial Balance

  AR Posting Register period Total should equal the AR period Total in the Trial Balance


Be sure you have manually verified the reports periodically. 


You can print these reports to a file. This saves your reports on the hard drive so that you can print them later. Derek will ask you for a “File Name to Use”, and it will default to your computer’s date. Then it will store the reports on your hard drive for you to print later (Ex: Trial Balance = TB2004-11-30.rep). After you have printed the reports to a file you can go to Tools, Data Tools, then Print Report Files. Select the report you want and print.



3.  MAKE A BACKUP

It's a good idea to always make a Permanent Backup to a diskette, CD, or some other removable device  periodically.  Store the diskette or CD in a safe place for permanent storage.  Do not rely on the temporary backup to hard disk for permanent storage.  

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