Monthly Procedures

Important Monthly Bookkeeping Tasks You May Have Missed

There are certainly other tasks that may need to be performed. These are the ones our support technicians and trainers commonly see missed.

Software Updates

• Keep your software updated
• Set permissions to update.
• Put someone in charge of updating on the last Friday of each month (for example)
• Check for new Custom Data Views (CDVs).
• Check user security. New features and CDVs may not have permission set.

Check the Company File Information

In the File Properties tab:

• Check First and Last Transaction Date
• Check GL Balanced

In the Database Stats tab:

• Click Run Database Maintenance (non-hosted only)

Check Your Aging Reports

• Click Reports | Company | Purchasing | A/P Aging.
• Check to make sure that you are not late paying bills.
• Click Reports | Sales | A/R Aging
• Be sure that you are collecting your money and stay on top of collections.
• Are there any invoices that you thought were paid but have balances?

Convert Mobile Invoices

• Open the Invoice list and filter for Mobile Invoices.
• Open, inspect, Save & Close

Handle Undeposited Funds

• We recommend that you Group with Other Undeposited Funds
• Be sure that all payments have been deposited.
• Click Banking | Make Deposit.
• Click the Payments button.

Perform Reconciliations

• Bank Reconciliation
• Credit Card Reconciliation
• Also look for credit card or ACH payments that did not go through.
• Both done by a trusted outsider such as outside accountant or family member.

Check for Non-Converted Item Receipts

• Click Vendor > Item Receipts.
• Make sure that you do not have any item receipts that you were not expecting.

Check for Invoices with No Serial Numbers

• Click Customers | Customer:Job List.
• Set the Quick Filter to show invoices with serial items sold but no serial number selected.
• Be sure you have selected serial numbers.

Update Retail Pricing

• The retail price of your items do not change automatically. As the price you pay for items changes, you should update your retail price accordingly. This task is fast and easy.
• Click Company | Update Retail Price

Perform Database Checkup

• Click Tools | Utilities | Database Checkup
• These are the two most important.
• Missing GJ Entries
• Out of Balance Transactions
• Next, run all others

Check for Inactive Warehouses with Items

If you inactivate a warehouse, please be sure to make sure it does not have any inventory in it. The Total Qty (Qty. On-Hand) should be 0.00. You should not have any items in the negative either.

From the Warehouse List, you can right click on the Warehouse and click View Inventory List. Click Show All, so that you can see any items that are inactive.

Check for Inactive Items Not Equal to Zero

Open the Invoice Item List and click the Inactive filter. Be sure that the Total Qty. is zero and that you have none in the negative.

Update Cutoff Date

• Click Edit | Preferences | Cutoff Date | Company Preferences
• Update the Cutoff Date (if needed).
• Update the “Warn If Transactions are” (if needed).

Check for Duplicates

There are many records that can get duplicated but here are the top ones to look for.

• Check for duplicate customers. Use the Merge Contacts feature to locate, merge, and remove duplicated customers and jobs.
• 7lCheck for duplicated accounts in the Chart of Accounts. Use the Merge COA feature to locate, merge, and remove duplicated accounts.

Appointments, Reminders, and Phone Messages

• Check these for items that may have been missed during the month.
• Look for unread phone messages.
• Look for reminders and appointments that have not been completed.

For the IT Professional (for non-hosted only)

• IMPORTANT: Be sure you are backing up your SQL Server Database(s)
• Be sure you can restore your backups.
• Be sure that you have setup daily database maintenance according to known best practices.