Before closing the accounting period itself, it is essential to perform a thorough review to ensure that all documents are correctly posted and that the accounting outputs are consistent with the original data.
Checking document posting
We will check the posting of all documents. In the Accounting – Accounting Outputs – Accounting Journal module, set the following filters:
posting date up to the last day of the previous accounting period
parameter "Posted = No"
This will display all unposted documents. If any appear, they must be added to the accounting records.
Subsequent checks
The subsequent check consists of several parts:
a) Bridging account 395xxx
The balance of the bridging account must be 0.00 CZK. If this is not the case, the discrepancy must be identified and corrected.
b) Balance
Under Accounting → Accounting Outputs → Balance, generate the balance successively for all accounts marked as "balance accounts".
These accounts served as the primary accounts for tracking outstanding receivables and payables.
The balance value must correspond to the closing balance of the account in the original accounting software.
c) Warehouses
In the Inventory → Warehouse Status as of Date report, verify the financial value of the warehouses.
This value must correspond to the relevant account in the accounting records.
d) Bank and cash
The balances of individual cash registers and bank accounts must match the closing account balances in the trial balance.
e) Trial balance
The closing balances of all accounts in the trial balance must match those from the original software.
f) Balance sheet and Profit and Loss Statement
The Balance Sheet and Profit and Loss Statement (unrounded) must be consistent with the values from the original accounting reports.