month end procedures

Lynfo

Hi, I'm wondering if anybody can tell me what procedures must be done for accounts at month end?
Or does anyone know of a good website which will give me some info?

kluivert

Depends on the company that you work for and the system that you use but the principles are still the same:

1. Bank Reconciliation
2. Print out Stock Value Report
3. Print out Stock Level Report
4. Print out Debtors Control Account
5. Print out Debtors Listing
6. Print out Aged Debtors Analysis
7. Print out Creditors Control Report
8. Print out Creditors Listing
9. Print out Creditors Aged Anaylsis.
10. Vat Reports (Vat preparation)
11. Sales Reports
12. Purchase Reports
13. Anaylsis of admin expenses.
14. Paye Preparation (P30 Returns)

Kinetic^

Kluivert, you make it sound like anyone could do it

OP, there's alot of work that goes into each of the 14 items that Kluivert listed so as simple as he's made it, it can get complicated very quickly.

shamblertine

Would someone be kind enough to give a brief description of each of those items and what they involve, and how they can become complicated etc? I'll be expected to do month end procedures soon enough and would love to have a bit of knowledge of them before their explained to me by colleagues. Any help would be much appreciated.

Kinetic^

shamblertine wrote:

Would someone be kind enough to give a brief description of each of those items and what they involve, and how they can become complicated etc? I'll be expected to do month end procedures soon enough and would love to have a bit of knowledge of them before their explained to me by colleagues. Any help would be much appreciated.

Hi Shamblertine, the above is only a guide. Each of the procedures are really company specific as everyone will have different requirements and systems. I'm sure you'll get training from your employer in relation to them.

shamblertine

oh ok thanks anyway