Classic - Accounting Responsibilities

The daily and monthly accounting responsibilities that must be undertaken in Successware fall for the most part into three areas of the program: Accounts Receivable, Accounts Payable and the Account Register.

Accounts Receivable

Most of the responsibilities of the person in the office who handles Accounts Receivable relate to transactions regarding the individual customer. However, there are some more broad-based responsibilities as well.

Daily

• Enter and Post the previous day’s invoices. 
• Complete Invoice(s) for the Job.  Invoices can be opened by selecting the job and pressing F10.
  To find jobs that are complete and ready to be invoiced you may:
• • Enter a date range in the Job Manager and sort by the Progress column. Jobs which have their calls completed but have not yet been invoiced will be listed as “Completed”.
  • Go to the Post view of the Invoice Manager. This view displays invoices that need to be posted. Select the Completed column to sort completed vs. not completed jobs. Select the job you wish to invoice.
  • Open the Call Center and click on the call you want to invoice. Once a Call is invoiced, it will appear with a green checkmark.
• Through customer billing accounts, post any Cash receipts which have been received from customers with open balances. You should also enter any miscellaneous cash receipts (receipts not related to a customer account, ie. Workers Comp refunds).
• Record any required adjustments to customer accounts.
• Update any accounts for which you have received NSF notification or other failed payment information.
• Run the Accounts Receivable Reconcile Utility on a daily basis to be sure that your AR Source balance (total of invoices, adjustments and allocations) matches your Accounts Receivable balance at the General Ledger level. If you are out of balance, follow the instructions in the utility. 

Monthly

• Age your customer billing accounts to properly mark them as 30, 60 and 90 days past due.
• Apply finance charges to accounts with overdue balances.
• Generate Statements to send to customers with open balances.

Accounts Payable

Daily

• As Vendor invoices arrive in the mail, be sure that they are entered into the system for the appropriate vendor. If you are using the PO/Receipt process, check the Unposted Invoices view of the Payables Manager to access invoices which have been created via a posted receipt and need to be modified and posted. Be sure to properly record the purchase detail of the invoice to be sure that expense is properly distributed in the General Ledger and charged to the appropriate department.
• Enter any necessary credit or debit memos on vendor accounts. These could be related to vendor returns or credit invoice received.
• Pay your open Payables invoices by using the Payment or Pay Bills options in the Payables Manager.
• Enter Accounts Payable invoices to indicate purchases made from vendors which were paid for with your company credit card. This will allow the purchases to appear in your AP purchase reports and for the payments made with the credit card to be reconciled in the Account Register.
• Run the Accounts Payable reconcile utility on a daily basis to be sure that your AP Source balance (total of invoices, adjustments and allocations) matches your Accounts Payables balance at the General Ledger level. If you are out of balance, follow the instructions in the utility. 

Monthly (or Non-Daily) Responsibilities

• Be sure to check your upcoming recurring AP Invoices. Generate any invoices which are coming due and post them so that they appear with your other open payables.
• • For any of your recurring invoices that are paid automatically (through an automatic draw for example), be sure to indicate on the invoice that it is paid and indicate the appropriate register account in which the payment will be recorded. Once marked as paid, be sure to post the invoice.
• Age your payables accounts in the Payables Manager.
• Use the Open Items filter in the Accounts view of the Payables Manager to be sure that there are no open items which you had intended to pay.

Account Register

Daily

• Perform your daily Cash Box reconciliations.
• Record any deposits that you have made to your bank accounts.
• Record any transactions on other cash-based accounts such as petty cash or a cash register. These accounts should be reconciled as well.
• Record any miscellaneous payments that may have been made from a bank account or using a credit card.
• Record any NSFs or other bank related transaction that you became aware of.
• • Be sure to update the associated customer’s account when applicable.

Monthly (or Non-Daily) Responsibilities

• Reconcile your Bank and Credit Card Accounts.
• Make any required credit card payments either from the Account Register (if you are making an online payment) or from the Pay Bills option in the Payables Manager (if you are paying with a check).
• Be sure that the account balance of your reconciled register accounts matches the balance of the General Ledger account associated with each.

General Monthly Accounting Responsibilities

• Check Deferral Analysis report balance to be sure that it matches the balance of the account you have chosen as your default Agreement Deferred Revenue account.
• Check the Reserve Analysis report balance to be sure that it matches the General Ledger balance of the account that you have chosen as your default Agreement Reserve account.
• If you are using inventory, check the Warehouse Stock Valuation Report “total average cost value” for a match with the General Ledger value of your default Inventory account.
• Perform any necessary journal entries (ie. Depreciation) as directed by your CPA.
• • Remember NEVER to post journal entries against any of your “process” accounts (Accounts Receivable, Accounts Payable, Inventory, Bank Accounts, etc.) as they will cause your General Ledger to be out of balance with the displayed account balance.
• Lock or close your fiscal periods.