[Statement of Purpose – Placeholder]
- Monitor the Month End Reconciliation screen – Investigate and resolve any differences throughout the month. [TBD]
- Review and Post Time Bills (as needed) – Ensure all employee time records that contribute to billing (e.g. on time-and-materials projects) have been reviewed (approved) and posted by responsible parties. This ensures proper revenue and payroll expense tracking.
- Post Project COGS and Revenue
- Post Service Revenue – Perform at end of month – after all service contract invoices have been created and posted – since Post Service Revenue action can only be done once per period (i.e. once per month). [TBD]
- Post Pre-paid Expenses (if applicable) – Recognize monthly pre-paid expenses.
- Post Recurring Entries (if applicable) – Post recurring GL entries that are automatically generated each period (if applicable). Double-check values and dates for accuracy. (Accounting > General Ledger > Post Recurring Entries) [TBD]
- Run Asset Depreciation (if applicable) [TBD]
- Post Accounting entries / adjustments (as needed) – Ensure all necessary manual journal entries (e.g. accruals, corrections or adjustments) are reviewed and posted to reflect accurate financials before closing the period.