Minimum Version Required: 22.01
Pre-Conditions
Accounts Receivable is Enabled (Setting 10)
Steps
How to Close Accounts Receivable
1. Using the Universal Search Bar, navigate to the Daily/Monthly Best Practices dashboard
2. Select a Company from the Dropdown
By default, the dashboard displays combined information for every Company on the site and the latest Close Dates among the Companies
3. Click Receipts Without Deposits
This directs the user to Invoices that have not been added to a Deposit
If there are no Receipts Without Deposits, the user can skip to Step 6
4. If any of the Receipts Without Deposits were deposited, either create a new Deposit or edit an existing one that is still New or Balanced
5. Return to the Daily/Monthly Best Practices dashboard
6. Click Deposits Ready for End of Day
7. Ensure the Balanced Deposits are accurate
8. Back in Daily/Monthly Best Practices, click End of Day
9. In the Accounts Receivable section, select a Company
The user can select more than one Company if the current Accounts Receivable Close Dates are the same
10. Select the date in the Select an Accounts Receivable Period to Close section
11. Click Close Period
12. Balanced Deposits are set to Verified
Fields And Definitions
Accounts Receivable Close Date - Balanced Deposits have been Verified through this day.
Accounts Receivable Period to Close - The day that Deposits in Balanced status are Verified. In other words, any Balanced Deposits from the day after the current Accounts Receivable Close Date through the Accounts Receivable Period to Close are Verified upon Accounts Receivable Close.
Best Practices
Always review Deposits for accuracy before Balancing and closing Accounts Receivable.
Close Accounts Receivabledaily or as frequently as possible.
Address any End of Day errors that result from closing Accounts Receivable.
Reach out to Support for help resolving End of Day errors resulting from Accounts Receivable Close if needed.