Question
How to carry out the Vehicle Month End Process?
Answer
To access the month end process go to: Vehicles > Month End > Finalise Transactions.
Once the Finalise Transactions process has been completed, Closedown Period can be used to run the month end process.
The vehicle module can operate in a maximum of two accounting periods. At the end of the month, there will be costs, bonuses, depreciation and reconciliation work to be carried out. Once all processes have been completed, the earlier period must be closed down.
If the Exceptions Report is clear, the sold vehicles for the month must first be finalised. Once this status has been set against each vehicle, no further postings can be made against it. When you first select the Finalise Transactions from the side menu, the screen will display transactions required for finalisation:
Double click on each entry to view the process that needs to be carried out:
The Exceptions Report can be viewed from this screen by selecting the 'View Close Down Exception Report' option, and the entries on this report will need to be cleared down.
Transactions can be finalised individually by selecting the 'Finalise Individually' button. When this is selected each transaction is displayed one at a time. Attempting to finalise a vehicle that appears on the Closedown Exception Report displays a message to the user and prevents the finalisation process from being completed successfully.
The 'Finalise All' button can be used to finalise all transactions in one go. If this is selected all transactions with no entries in the Closedown Exception Report will be finalised:
Once all transactions have been finalised, the system period must be closed down. To do this, select Closedown Period from the side menu.
Before the system period can be closed down, a number of reports must be run from the system to provide users with an audit trail of activities during the system period to be closed. These reports should be physically printed and retained.
Once the hard copies of these reports have been obtained, the boxes for each period should be checked:
Finally, select the 'Close Down Period' option from the bottom of the screen. The system then completes the month end process- all vehicles invoiced and with zero value debtors and creditors will be archived.