MYOB EXO - End of Month Procedures

Have you checked that you have reconciled your Debtors, Creditors and Stock to GL before finalizing your monthly accounts?

Here is a handy tip on how you can check these balances…

Post Ledgers to GL

First make sure that you’ve posted all ledgers to GL…

Then

Debtors Aged Balances Report should balance with Debtors Control Account Report

Then compare the Balance on these reports against the Debtors account in the General Ledger.

Creditors Aged Balances Report should balance with Creditors Control Account Report

Then compare the Balance on these reports against the Creditors account in the General Ledger.

Now print off the Stock Valuation Report

If you are on a Periodic Stock System you will need to Post the Stock Value to the GL via the screen below…

(If you are on a Perpetual Stock System then you don’t need to complete this step)

Then compare the closing figures against the Stock On Hand account in the General Ledger.