peach info Homepage
Forum Home Forum Home > Clients and Guests > Q&A Clients & Guests > General Ledger
  New Posts New Posts
  FAQ FAQ  Forum Search   Register Register  Login Login

General Ledger To - Do List

 Post Reply Post Reply
Author
Message Reverse Sort Order
Guests View Drop Down
Guest
Guest
Post Options Post Options   Thanks (0) Thanks(0)   Quote Guests Quote  Post ReplyReply Direct Link To This Post Topic: General Ledger To - Do List
    Posted: 25-Feb-2011 at 02:39

Daily:

1.       Update General Ledger by posting outstanding transactions done in the Trading side from previous day

2.       Check Till Summary from Trading side and make sure all the Receipts and Payments done in the Trading side has transferred across to the General Ledger Cash on Hand Account.

3.       Process any other Customer Receipts and Supplier Payments that needs to be processed using Customer Receipts or Supplier Payment screen. Process any General Receipt and Payments using Receipts or Pay General screen in the GL.

4.       Transfer EFTPOS amount according to the Bank Statement from Cash on Hand account into the Business Bank account using a Standing Journal.

5.       If you take Cash and Cheques to the bank daily then Transfer Cash and Cheque amount that you are taking to the bank from Cash on Hand into Business Bank account using a Standing Journal. If you don’t go to the bank daily then process this journal as often as you go to the bank.

Weekly or Monthly:

1.       Process Wages payable using a Standing Journal weekly / fortnightly / monthly depending on your business procedure.

2.       Run Aged Debtor, Aged Creditor, Stock report in the Trading side and make sure they balance to the Debtor control, Creditor control and Stock control GL codes in the General Ledger.

3.       If there is any variance run GL Posting Analysis reports (Debtor, Creditor, and Stock) from the Trading Side in order to find where the variances are coming from.

4.       Do a Bank Reconciliation in the General Ledger using the BankRec screen in order to balance your Peach Business Bank account to your Bank Statement.

(Please refer to the GL Maintenance help sheet for detail instructions on this http://www.peachinfo.net/forum_posts.asp?TID=1411)

We recommend that you try to do this balancing process weekly when you are starting to use Peach General Ledger and as your system becomes more stable you can do this monthly.

Monthly or Quarterly:

1.       Process BAS payments monthly or quarterly depending on business procedure. BAS is processed using Standing Journal and Pay General Screen.

(Please refer to the BAS Payment help sheet for detail instructions on this http://www.peachinfo.net/forum_posts.asp?TID=1590)

Yearly:

1.       Process a Journal between Opening Stock and Closing Stock GL code in order to bring the Stock on Hand balance from last financial year into this financial year. This journal needs to be dated at the 1st date of the new financial year.



Edited by Susmita - 25-Feb-2011 at 02:43
Back to Top
 Post Reply Post Reply
  Share Topic   

Forum Jump Forum Permissions View Drop Down

Forum Software by Web Wiz Forums® version 11.04
Copyright ©2001-2015 Web Wiz Ltd.

This page was generated in 0.078 seconds.