59 Overview to Period-End Processing

This chapter contains these topics:

59.1 Objectives

  • To create credit note reimbursements

  • To use "as of" reports to review transactions as of a specific date

  • To use integrity reports to locate potential balancing problems and data inconsistencies

59.2 About Period-End Processing

Period-end processing refers to tasks that you complete at the end of an accounts receivable period. You normally complete these tasks on a periodic, quarterly, or yearly basis. You can also complete them while setting up your Accounts Receivable system.

Period-end processing consists of:

  • Working with credit note reimbursements

  • Processing "as of" reports

  • Processing A/R integrity reports

The following describes the features of period-end processing.

Feature Description
Credit note reimbursements Use credit note reimbursements to reclassify a credit memo or unapplied receipt to an open voucher in the Accounts Payable system. For example, you can reimburse customers for overpayments and issue rebates.
"As of" reports Use "as of" reports to view summary or detail A/R ledger information as of a specific date. For example, after the beginning of a fiscal year, you might want to review open A/R information as of the date of your year-end audit.

You can also use these reports as problem-solving tools. For example, use the Open A/R Details "as of" report to compare the A/R period-end balance to the general ledger account balance of your A/R trade (offset account).

A/R integrity reports Print A/R integrity reports to supplement your internal balancing procedures. These reports list potential balancing problems and data inconsistencies.

You should print these integrity reports at least once a week during the process of converting to new software or during a learning period for new users. Otherwise, print them on a periodic basis to resolve and correct errors in a timely manner.

Depending on your organization's needs, you might have additional period-end tasks to perform, such as:

  • Updating and printing finance charges

  • Printing and revising payment reminders

  • Printing delinquency notices

  • Printing statements and invoices