Pre-Audit Year-End General Ledger Checklist

Complete these tasks in the order listed.

 

Step 1: Print journals

Print all journals for the last month of the year. Usually, this is period 12/YY, 06/YY, or 09/YY. See the help topic titled Journal Reports.

Step 2: Review journals

Review the journals and verify that all data for Cash Receipting, Payroll, Accounts Payable, Accounts Receivable, and Utility Management have been updated for the last month of the year.

Step 3: Complete month-end GL checklist

Complete month-end General Ledger checklist tasks for the last month of the year.

 

Stop!

Do not continue until you have completed the previous steps.

 

Step 4: Run Checkout

Run Checkout for period 14/YY. See the help topic titled How do I search the database for errors?

Step 5: Run cash-only automatic allocations

Run cash-only automatic allocations for period 14/YY. See the help topic titled How do I create allocations?

Step 6: Rerun Checkout

Rerun Checkout for period 14/YY. See the help topic titled How do I search the database for errors?

Step 7: Correct errors

Correct any errors and run Checkout again for period 14/YY before continuing. See the help topic titled How do I search the database for errors?

Step 8: Print working trial balance

Print a working trial balance for period 14/YY for your auditor. See the help topic titled Working Trial Balance Report.

Step 9: Print Detail Ledger

Print the Detail Ledger for the entire year (period 00/YY to 14/YY). See the help topic titled Detail Ledger.

Step 10: Print Financial Statement

Print a financial statement for the last month of the year for your auditor. See the help topic titled Financial statement report.

Step 11 (Optional): Print journals

If you like to maintain a hard copy of your journals, print all journals for the year from period 00/YY to 14/YY. See the help topic titled Journal Reports.

Step 12: Back up the General Ledger

Back up the General Ledger, see the help topic titled How do I back up General Ledger?

Step 13: Close the year

Close the year, see the help topic titled How do I close year-end?

Step 14: Run Checkout

Run Checkout for the zero period of the new year (period 00/YY). See the help topic titled How do I search the database for errors?

Step 15: Print opening trial balance

Print the opening trial balance for the 00/YY period of the new year. See the help topic titled Trial Balance Report.

Step 16: Print financial statement for 00/YY

Print a financial statement for the 00/YY period of the new year. See the help topic titled Financial statement report.

Step 17: Review financial statement for 00/YY

Review the financial statement for period 00/YY of the new year. Verify that the balances on this report match the balances on the financial statement printed in Step 10 for period 14/YY of the prior year.

Step 18: Compare financial statement budget amounts and approved budget

Compare the financial statement budget amounts against the approved budget for the new year. Check for parentheses in the budget column to locate possible errors. Correct any budget errors, see the help topic titled How do I edit a budget entry?

 

The pre-audit year-end checklist is complete. Now, you should stop and wait for your auditor to perform an audit of your organization's finances. When the audit is finished, you're ready for the post-audit checklist.

 

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