Sales Ledger – Period End

Purpose: To run monthly – your product’s ledgers accumulate transactions and produce reports, usually in 12 discrete transaction periods within a financial year. To maintain integrity for management reporting purposes each period must be closed off.

Each of the Sales, Purchase and Nominal ledgers has its own routine that must be run separately.

The Period-end routine:
Closes the current period and so prevents any further transactions being created or adjusted in that transaction period in the ledger.
Advances the Ledger period by 1 into the next period;
Clears down all matched transactions into history.

Preparation:

• Ensure all the current transaction period’s data has been processed.
• Ensure all other users are off the system until Period End is completed.
• Ensure Sales Daybook has been printed.
• Process sales and purchase ledger periodends before processing nominal ledger period end.
• Enter Period end date to ensure accuracy with closing.
• Clear YTD turnover & analysis Check resets YTD turnover on all sales Ledger accounts to zero – use at period 12 after reporting – see Report Sales Activity.
• Clear product to date analysis . Check resets analysis on all sales ledger accounts to zero – use at period 12 after reporting – see Print Product Detail.