Daily Close Overview

Daily Close Overview

Daily Close Overview

·                 Payments & Deposits Report – Daily reconciliation tool. Balance before DC1.

o   Reconcile daily payment receipts and either go to bank or send to head office.

o   Send report to head office.

·                 Daily Close 1 – daily or day of banking after reconciliation

o   DC1 includes a parent and its visit locations.

o   Once accepted, the trx will be exported in DC2 into a format suitable for Navision. If using Xero, the amounts will be sent directly to Xero.

·                 Daily Close 2 – payments only – run after banking is done on day of banking

o   Will include payments and sales quote deposits that have been through the daily close 1,

o   Will include any return invoice payments

·                 Daily Close 3 - Run on day of banking after banking.

o   Exports any trx (invoices, repairs) that have had no payments received even if DC1 & 2 have not been run

o   Exports sales information if all document payments have been through DC 1 &2

o   Exports Inventory adjustments if configured to do so

o   Exports Deposits Used when a Sales Quote becomes an invoice.

o   The journal moves deposit trx from DEPOSITS HELD to ACCOUNTS RECEIVABLE    

o   Reverses the DC2 holding journal to A/R. Net effect $0

·                 Export Purchase Trx

o   Accounts Payable>Exports - exports purchase trx if bill is not on hold. Invoice can no longer be edited.

o   Format is suitable for import to Navision/MSBC. If using Xero, will display in Xero as a supplier invoice if suppliers match exactly.

Regions

The Daily Closes use Accounting Regions. There is information on Regions on our website – click Here.



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