ramamtatta

 Profile Answers by ramamtatta 

• Sep 19th, 2006

 

Intially made a thorough check with the sales department to reconcile that all the receipts for the periods has been entered

Check the revenue account(Bank) with the Sales day book

Assume that all receipts for the period has been received

Reconcile with the bank statement with the  receipts entered

Adjust the Bank charges or discount given to the customers appropriately.

Run the import journal from AR to the GL

If the report  has run successfully then check the transaction at GL posting header.

Once it has been posted you can close the AR for the  period.

rajugoouru

• Feb 21st, 2007

 

1.There is no such period close for AR. AR is submodule of FI. FI period close also applicable to AR.

Rajesh

anuradha.vijayaraghava

 Profile Answers by anuradha.vijayaraghava 

• Mar 12th, 2007

 

1. Review balances and reconcile the AR transactions, i.e,
•*Reconcile receipts

•*Reconcile journals

•*Reconcile transactions

•*Reconcile customer balances

Reconcile transactions and receipts
Reconcile outstanding customer balances i.e., 

Opening balance + Transactions -  Receipts = Closing balance

Reconcile transaction and receipt accounting flexfield balances

2.  Transfer to GL
3. Review transfers results and resolve transfer issues if any
4. Post the journal in GL
5. Close the GL period