Chapter 14 End-of-period procedures
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M YOB Accounting M YOB Premier Asia
St ep 1: Run t he Company Dat a Audit or
The Com pany Data Auditor is a series of w indows that guide you through the process of checking and ensuring the accuracy of the records in your
M YOB company file.
1 Go to the
Accounts
com mand centre and click
Company Data Auditor
. The
Company File Overview window appears.
This window shows you:
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the company file name
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the M YOB accounting software version
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the location of the com pany file
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the size of the com pany file
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the date on which the com pany file was last backed up
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the date on which the com pany file was last verified
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the latest month of locked periods, if one has been specified If necessary, you can perform the following maintenance tasks from this
w indow:
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Back up your com pany file. Click the Backup
button and com plete the backup procedure. For m ore inform ation on how to back up your
com pany file, see ‘To make a backup of your company file’ on page 162
.
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Check your com pany file for errors. Click the Verify
button and com plete the verification procedure. For more information, see
‘Checking your company file for errors’ on page 165 .
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Set the locked periods for your com pany file. Click the Lock Periods
button and specify the last m onth of those that are to be locked being months for which data cannot be entered. For m ore inform ation on
how to lock periods, see ‘Lock periods’ on page 154
.
2 When you have completed the required m aintenance tasks, click
Next
. The
Account Reconciliation Review
window appears.
This window shows you:
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your bank and credit card accounts
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the balance of each account
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the date on which each account was last reconciled.
3 If you want to reconcile an account, select the account and click the
Reconcile Accounts button. For more information on how to reconcile a
bank account, see ‘Reconciling your bank accounts’ on page 150
.
M onth-end tasks
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User Guide
4 Click
Next . The
Data Exception Review window appears.
5 Enter the start date and end date of the period you want to check and click
the Run Review
button to do the following:
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Reconcile invoices with the linked account . The total of all custom er
balances is com pared to the current balance of the linked receivables account. If there is an out-of-balance amount, a question mark and a
Print Report button appear next to this step of the review. Click
Print Report
to print the Receivables Reconciliation Exceptions
report and analyse the details of the report.
An out-of-balance amount may occur if:
A sale was allocated to the account for tracking receivables instead of to an income account.
A custom er paym ent has been dated prior to the customer invoice.
A journal entry or a Receive M oney transaction was incorrectly allocated to the linked account for tracking receivables. A journal
entry that affects this account will not affect the outstanding receivables balance in the custom er’s card.
Only one of two finance charge transactions has been deleted. If you delete a customer payment with an am ount applied to the
Finance Charge
field, you must also delete the corresponding entry for the finance charge in the Sales journal.
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Reconcile purchases with the linked payables account . The total of all
suppliers balances is com pared to the current balance of the linked payables account. If there is an out-of-balance amount, a question m ark
and a
Print Report
button appear next to this step of the review. Click
Print Report
to print the
Payables Reconciliation Exceptions
report and analyse the details of the report.
An out-of-balance amount m ay occur if:
A purchase w as allocated to the account for tracking payables instead of to an expense account.
A supplier payment has been dated prior to the purchase.
A journal entry or a Spend M oney transaction has been m ade affecting the linked account for tracking payables. A journal entry
that affects this account will not affect the outstanding balance in the supplier’s card.
Only one of two finance charge transactions has been deleted. If you delete a supplier paym ent with an amount applied to the
Finance Charge
field, you must also delete the corresponding entry for the finance charge in the Purchases journal.
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Compare item values with the linked inventory account . The total
value of inventory on hand is compared to the current balance of the linked inventory account. If there is an out-of-balance am ount, a
question mark and a
Print Report
button appear next to this step of the review. Click
Print Report
to print the
Inventory Value Reconciliation Exception
report and analyse the details of the report.
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Scan for future-dated transactions
. The com pany file is checked for any transactions dated later than the current date. If there are such
transactions, a question m ark and a
Print Report
button appear next to this step of the review. Click
Print Report to print the
Future Dated Transactions
report and analyse the details of the report.
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Scan for prepaid transactions
. The com pany file is checked for any prepaid transactions. These transactions include all custom er and
supplier payments excluding deposit paym ents that have a payment date prior to the date of the invoice or purchase. If there are such
transactions, a question m ark and a Print Report
button appear next to
Chapter 14 End-of-period procedures
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