Purchase Ledger - Flipbook - Page 169
End Current Period
–
Purchase Ledger
Introduction
The period end routine will close the current period, preventing any further transactions being posted to the period
and will advance the system dates to the new period.
The timing of the period end routines will vary from system to system; it is entirely the users decision when to
close the period.
There are five period end routines to consider:Sales Ledger
Purchase Ledger
Nominal Ledger
Vehicle Ledger
VAT Quarter End
The most usual sequence to close the ledgers is as follows:Vehicle Ledger (VSB) – This MUST NOT be closed until all the reconciliations have been performed and deal
profits agreed.
Sales Ledger – This MUST NOT be closed until VSB has been checked and all deals invoiced/credited for the
month. All cash should have been posted and allocated, preferably bank reconciliation completed and statements
run.
Purchase Ledger – All the statement reconciliations must have been performed, invoices and payments
processed.
VAT Quarter End – The VAT quarter should be rolled just prior to the Nominal Ledger – after all adjustments have
been made and all other modules closed - except the nominal.
Nominal Ledger – The Nominal should be closed last – after the other modules and all adjustments have been
made. The Management Accounts and Spreadsheet Interface must be run prior to closing the Nominal.
End Current Period – Purchase Ledger
01.02.011.02 – pwise – 01/06/06
Page 169 of 176
