Accounts Receivable Clerk Question:
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How We Are Going To Close Ar Periods?where We Are Going To Use Accounting Rules What Are The Setups For That?know We Are Having 100 Transactions In Ar. Know We Want To Close 50 Transactions How?
Answer:
Review balances and reconcile the AR transactions i.e
☛ Reconcile receipts.
☛ Reconcile journals.
☛ Reconcile transactions.
☛ Reconcile customer balances.
☛ Reconcile transactions and receipts.
☛ Reconcile outstanding customer balances i.e.
☛ Opening balance + Transactions - Receipts Closing balance.
☛ Reconcile transaction and receipt accounting flexfield balances.
☛ Transfer to GL.
☛ Review transfers results and resolve transfer issues if any.
☛ Post the journal in GL.
☛ Close the GL period.
☛ Reconcile receipts.
☛ Reconcile journals.
☛ Reconcile transactions.
☛ Reconcile customer balances.
☛ Reconcile transactions and receipts.
☛ Reconcile outstanding customer balances i.e.
☛ Opening balance + Transactions - Receipts Closing balance.
☛ Reconcile transaction and receipt accounting flexfield balances.
☛ Transfer to GL.
☛ Review transfers results and resolve transfer issues if any.
☛ Post the journal in GL.
☛ Close the GL period.
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