Procedures Prior to EOP
These procedures need to be completed before starting End of Period.
|•||Close the Daily Banking|
The Current (open) banking should be closed to ensure all entries are posted in the current period.
|•||Reconcile the Bank Statement Reconciliation|
Preferably, this should be up to the day of processing.
The charges which have been entered into this system are not immediately processed into transactions that will appear on the Lessor Statements. The process charges function must be run. This is a program item on the Lessor drop down menu.
Page 1: Lessor Charges Held and Charged report. Shows when there is not enough money in Landlords account to pay.
Page 2: Negative Lessor Charges report. To be processed individually. Agents need to go and process in Lessor Charges/Refunds as they don't get processed automatically.
Like charges, creditor accounts are not immediately processed and paid. Hence, it is necessary to ensure that any accounts for which there are funds are paid by running this process.
These are optional steps-
This is an optional step. It can be useful to have a second set of statements that are checked beforehand so that any errors can be fixed. Note: - if any receipts etc are entered after printing, these transactions will not appear on the statement.
This is another optional step as this same report is printed out during the main processing. It can be useful to review the balances on this form as a method of spotting any errors.
You are now ready to begin your End of Period
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