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YEAR END CHECKS AND PRINT JOBS

SALES YEAR END

These are the only reports that should be printed for the auditors. (Any additional reports will add to the time taken by the auditors to do your audit.) Only supply additional information, such as copies of invoices and other working documents or reports, on request.

IMPORTANT: Be sure that all control totals balance correctly before printing the reports. Errors will waste time and increase the cost of the audit.

INVENTORY

• Merchandise (1)
  Cost report (all groups - summary only)

• Standard Stock (2)
  Cost report (all groups - detailed)
  Turnover (for management - optional) (see note)

• Raw Materials (3)
  Cost on hand (all codes - detailed)

• W.i.p. (Service orders) (4)
  Value list

DEBTORS

• Control ACCOUNT (5)
  Normal & Extended

• AGE ANALYSIS (6)
• JOURNAL ENTRIES
  (FIRST TO LAST MONTH OF FINANCIAL YEAR TO PRINTER (SCREEN VERSION IS NOT ANALYSED)
• Overdue letters
• Bad debtors list
  Over 90 only: Yes, No payment this month: Yes, Details: List

 

Note: Some reports, such as the Standard Stock turnover report, are only available in real time - that is, you cannot reprint them after the computer has been year-ended. Most other reports do have a starting and ending date selection so that they may be printed, or reprinted, at a later date.

ACCOUNTING YEAR END

These are the only reports that should be printed for the auditors. (Any additional reports will add to the time taken by the auditors to do your audit.) Only supply additional information, such as copies of purchase vouchers and other working documents or reports, on request. Any monthly reports that you may have printed are redundant (because the single year-end report includes all the data) and will only confuse and must not be included in the reports that you supply to the auditors.

IMPORTANT: Be sure that all control totals balance correctly before printing the reports. Errors will waste time and increase the cost of the audit. Known errors can be pointed out and explained to the auditors if they cannot be easily corrected. See list of things to check.

Creditors

• Balances as at year end date (11)
• Control account (12)
• Monthly analysis (Only entries not posted to G.L.) (13)
• Ledger (List redundant: Yes) (14)
• Index, Numeric only

General Ledger

• Quick BS/P&L
• Trial balance (Summary) (15)
• Trial balance (Detailed)
• Cash books (10100-10109)
• Income statement
• Balance sheet

MOST IMPORTANT: Check the following before handing over to auditors:

• Bank accounts (10100-10109) must reconcile to the bank statements
• Accounts 12100, 12200, 12300 & 12400 in G.L. (15) must equal totals of inventory cost reports (1), (2), (3) & (4) respectively.
• Control account (5) must equal the Aged analysis (6)
• Control account & Aged analysis (5) & (6) must equal G.L. Account 11100 (15)
• Account 21100 in (15) must equal total of balances-as-at-yearend report (11)
• Control account (12) must equal the Ledger total (14)
• Control account and Ledger totals (12) & (14), less the total unposted transactions (13) must also equal the Balances as at Year End and G.L. Account 21100 (11) & (15)
• Examine all other G.L. accounts for abnormal balances and correct any posting errors.