SUMMARY: Tips for maintaining
accurate, balanced accounting books.
Use this Checklist as a general guide and expand it to fit
the needs of your company. Descriptions and instructions
for the reports listed are available in the manual.
- Always run a proof list and check it before posting.
Save the proof lists until a balanced trial balance and
matching vendor and client agings are printed.
- Print a trial balance for the period you have completed.
Print the out-of-balance checker report (Edit > G/L Tools > Auditor) if
the trial balance is not in balance. Make any adjusting entries that are
necessary. If the account has a balance, print the audit trail for the
suspense account. Then make the journal entries necessary to clear the
- Print the trial balance for the period you have just
If the trial balance is not in balance, check the Out of
Balance Checker. Make any adjusting entries that are necessary.
Print an audit trail for the suspense account if necessary,
then make corrections.
- Print the vendor and client agings. Compare the balances
to the trial balance. Attend to any accounts which are
not in balance.
- Make journal entries for month-end bank charges, etc.
Reconcile the bank statement. Print and save the reconciliation.
Save the balanced
monthly reports, including agings, for each month
in a 3-ring binder. Reports should be separated by
month with a divider. They are an essential reference
when balancing future months. Also, this gives you
an essential paper trail for reference (it's your