These procedures may vary depending on how your company’s business is conducted. The following three sections of standard procedures are provided as a guideline:
1. Recommended Operating Procedures
An outline is provided of routine procedures on a daily, weekly, period (month, if 12 periods are used) and yearly basis.
The end-of-period procedures are critical to the proper functioning of the system. Certain programs must be run in a specific order to close the General Ledger module accurately.
It is suggested that copies of the checklist be made and used for each period close-out to be filed for future reference.
3. End-of-Period Checklist Explanation
A detailed account is provided of the purpose of each program on the checklist.