BMS Monthly Checklist BMS Monthly Checklist
All reports can be printed to PDF unless otherwise stated.
Before Month End
Review AP Received Not Invoiced Report ensuring only recently received PO’s are listed
Reconcile vendor statements
Resolve any inventory issues found during cycle counts
Print Inventory Listing – look for negative inventory or small balances
After all jobs are invoiced
Process installer payables (send to AP) (use period of closing month and matching date)
Review Work In Process – Costs from JC and make sure nothing in Labor Posted To Date column
Month End – Last day of the month after everyone is out of the system
Print Invoice Register
Print Journals/Update General Ledger
Print Trial Balance – Make sure debits equal credits
Print Accounts Receivable Aging Report (Standard) Reconcile to Trial Balance
Print Accounts Payable Open Invoice Listing Report Reconcile to Trial Balance
Print Customer Deposit Aging Report Reconcile to Trial Balance
Print Installer Listing Report – Retainage & Loans Reconcile to Trial Balance
Print AP Received Not Invoiced Report (date back 3 months) Used in Inventory Reconciliation
Print Inventory Valuation – By Product Type Totals Used in Inventory Reconciliation
Print Inventory Audit Report using current month dates Used in Inventory Reconciliation
Close Accounts Receivable – Purge Cleared Account Activity
Inventory Purge – Roll less than .01 and With Vendor Invoice Numbers
Accounts Payable – Delete * Vendors with no Activity
Close Accounts Payable
MOVE DEFAULT PERIOD TO NEXT PERIOD (does not apply to Date Driven GL)
Suggested Reports
Print Accounts Payable as of (use month end date) Reconcile to Trial Balance
Print Accounts Receivable Aging as of (use month end date) Reconcile to Trial Balance
Print Customer Deposit Aging as of (use month end date) Reconcile to Trial Balance
Print Annual Trial Balance Look for transactions booked to future periods
Print Annual Trial Balance Next Year Look for transactions booked to future periods
Additional Monthly Functions
Bank Account Reconciliations
Credit Card Reconciliations
Reconcile all balance sheet accounts
File Sales Tax payment/prepayment
Process Service Charges/Print statements
Hard close of month (usually 2 – 3 months later)
RollMaster