Periodic & Month Ending Procedures

□	Perform any Scheduled Periodic Procedures - Use this page as a checklist for what you should do on a regularly scheduled basis.

Many of these items should be done each day. But the reality is they often won't get done when they should.

Ý Reports marked with an asterisk may be Previewed and/or re-Printed at any time in the future.

•	They will contain the same set of information as long as you specify your requirements in the same way.

•	Unless you have a very specific reason to actually "Print" it, don't!

ê Reports that must be saved as they looked Today.

•	Generally this is because the report is a "snap shot" report of Today's current status and would be different when it is printed "tomorrow".

•	These "snap shot" reports should be "printed" to a file (see Printing to a File) - preferably a "pdf" file - so that it can be viewed - and even actually printed - at any time in the future but with the information as it existed on the exact day the report was originally created.

So, this list also serves as a Reminder List.

1.	Bill for Recurring Revenue - At least once each month, preferably at the same time of the month, bill your recurring revenue.

•	If you are using the multiple billing cycles feature, create a specific set of dates when these groups will be Invoiced and follow that pattern each month.

•	Consider creating a spreadsheet or manual check list, that you can then repeatedly reference, so that none of your billing cycles are forgotten.

2.	Print Invoices - You can print your Invoices as soon as they are entered.

•	However, you may find it more convenient to print them in batches.

•	MKMS keeps track of which Invoices you have and have not printed.

•	When you are ready to print and mail them, just select Only Un-Printed Invoices on the Invoice printing form.

3.	Post all Receipts - The bank does not give you any credit for Checks in your safe (or desk drawer).

•	Bank Deposits should be made daily.

•	Just keep this in mind (and on your daily check list).

4.	Post Auto Drafts - Credit Card Payments and Bank Drafts are posted in batches based on when they were Invoiced.

•	Following the Recurring Revenue billing schedule recommended above, create an Auto Draft schedule also.

5.	Allocate Unapplied Receipts - Print the the Unallocated Receipts/Credits Report and individually Allocate them (see Unallocated Credit Memos/Deposits below).

6.	Assess Late Charges - Either once each month, or if you are using Late Fee Groups, whenever required based on your multiple billing cycles.

7.	Unallocated Credit Memos/Deposits - Print the the Unallocated Receipts/Credits Report and either individually Allocate them or use the automated method in Post Pending Credits & Deposits.

8.	Post Deferred Revenue - This dialog is used to periodically calculate, distribute, and post Deferred and Earned Revenues to the appropriate General Ledger Accounts and the Transaction File.

9.	Subscriber Statements - If you don't remind those that haven't yet paid, they won't.

10.	Custom Pay Increases - Each month, review your Auto Bill records with Custom Pay Amounts to see who should have their Rate(s) re-evaluated.

11.	Pay Group Changes - Allows you to globally reset (raise) one or more of the Pay Rates established in the Pay Groups Form which will automatically adjust the Recurring Revenue Pay Amount for any Subscribers assigned to that Pay Group.

12.	Contract - Using the Subscribers with No Contract report as an information source, update the Subscribers files with the latest Monitoring Contract information.

13.	Perform your End of Month Procedures - This should be done shortly after the month actually ends (certainly within 15 days or so) to prevent transactions being accidentally posted to the wrong month. Certain reports should be printed exactly at the end of the month ("!").

a.	Print a Monthly Cash Receipts Report - â- Once all of the Receipts are posted for the completed month, print the Monthly Cash Receipts Report by selecting Specific Dates (the first through the last day of the month you are closing).

b.	Print a Sales Analysis Report - â- Once all of the Sales are posted for the completed month, print the Sales Analysis Report for the month to be closed.

c.	Print the Accounts Receivable Report - ! ê - Once all the Sales and Receipts are entered (and before posting any Sales or Receipts for the current month), print the Accounts Receivable Report, include All Subscriber, Detail and Show Individual Invoices.

d.	Print an Attrition Report - ! To take a look at the state of your recurring revenues, print the Attrition Report.

e.	Calculate Sales Taxes (This may be the responsibility of the Accounts Payable Department) - Prepare the Tax Reporting and Payment requirements you must follow.

f.	Finally, complete the Accounts Receivable System's Month Closing by executing the Month Close procedure.