Closing the Debtors Period at the End of Month

This occurs:-

• After the final Bank Reconciliation is done for the month (normally on the first business day of the next month)
• After running the Debtors Statements (not before)

Post The General ledger.

This is always done first.

Post the GL (General Ledger)

Check the Debtors Ledger

• Debtors
  • Enquiry
    • Accounts
      • Aged Trial Balance

The total debtor balance is at the bottom.

Print the Debtors trial Balance

Accountants like to see the Debtors Trial balance, but since Minder is a real time system it's a good idea to print one now, even if its to PDF. You will also normally require this report for inclusion in the monthly board papers.  

• Click On Print

Check The General Ledger

The Debtors Control account, in this case, is AC1200

This company also take security Deposits. They are in LC1600

Check The ledgers agree

So we can see that the Debtors Ledger balances with the general ledger, we are good to close the Debtors Period.

Close the Debtors Period

Ensure all users are out of Sales Orders.

• Debtors
  • Maintenance
    • Period Close

Click on Period Close

The system will now update the Aged Balances checking as it goes as per what we did manually above, once complete you will be presented with the 'Processing Complete' Message Box, click OK and your done.

What to Do if it doesn't Balance

There are several reasons that you won't balance, either a direct posting to one of the control accounts, or an external interruption (power etc) which has affected a posting. In all cases the resolution follows the same steps.

1. Check for Direct GL postings
2. Re-balance the ledger aged balances
3. If that doesn't fix it, contact support.

Check for Direct GL postings

This is the most common reason for imbalances. Direct posting to a control account, that is an account which is used by a ledger, is not encouraged and should be avoided. If you need to have an entry like this is should be to a subsidiary account.

An Example, we have an imbalance and we need to find it.

• GL
  • Enquiry
    • Enquire Account
    • AC1200 (in this case)
    • Click on 'All History'
    • 
       

This will bring up all the transaction on this account, a big list. Let's use the query filter to find what we need.

• Rec Type:          EJ       =
• From Period :   1411   >=        (which is July18, but just use whatever period you are interested in)
• Click OK

Bingo, we have 2 entries, the first one is an incorrect entry which was fixing the bank account, the 2nd entry is our correction moving the 22c off to a cost account called 'Misc Rounding'. 

This entry should have been 

Thus avoiding posting directly to the control account.

Re-building the Debtors Ledger Aged Balances

Some important Rules when doing this:-

1. NO next period transactions.
2. Nobody else in the system, that is do it after hours.

• Admin
  • Global Changes
  • Debtors
    • Balances
      • Aged Balances

Re-check your Debtors trial Balance.

Contact Support

When the above fails to fix the balancing, contact support.