G/L MONTHLY CLOSEOUT
******(If you are not using the General Ledger, you do not have to do this monthly procedure to close out the G/L.)
Note: The General Ledger is closed out monthly. You must set up for new month at the end of each month so that you will not combine two months.
Run the GLAP program to "transfer in" the Accounts Payable Journal to the General Ledger.
Run the SLP program and transfer to the General Ledger after you have made sure the deposits on your SLP match the bank statement. (If Multi-Store, run SLP for each store.)
Reconcile your bank statement and balance it to the Checking Account in your General Ledger. Make the necessary adjustments using the GLE program.
Run the GLTB program, and make sure the General Ledger balances. If any adjustments are made, you must run the GLTB again.
Run the GLIS program to print the income statement.
Run the GLBS program to print the balance sheet.
Run the GLPJ program to print the General Journal.
Run the GLP program to print the General Ledger.
Note: The GLTB, GLIS, GLBS, GLPJ and GLP programs may be run as many times as needed before GLS is run.
Run the GLS program to set up for new month. You can check to make sure all end of month steps have been done by going to GLI and looking at an account that had transactions for the month. There should only be a balance forward with no entries for the current month. The GLS program MUST be run before any entries are made for the new month.