Review journal entries and the accounting period
Bring together sales, purchases, bank movements and stock so the accountant can review the period.
Before you start
Have the approved chart of accounts, journals, fiscal year and opening balances. Work in the company and the period being reviewed, with a user who has full accounting access.
Step by step
1. Check journals and accounts
In Invoicing > Configuration > Accounting > Journals, check the type, currency, default accounts and bank details of each journal. In Invoicing > Configuration > Accounting > Chart of Accounts, check the type of each account and whether it allows reconciliation.
2. Record the approved adjustment
In Invoicing > Accounting > Journal Entries, create the approved adjustment with journal, date, reference, accounts, debits, credits and analytic distribution. Check that debits and credits balance, then confirm the entry.
3. Reconcile the period
Check the invoices still in draft, the open installments, the bank reconciliation and the stock valuation entries. In the Invoicing > Reporting menu, compare the Trial Balance and the General Ledger for the same dates, using posted entries only, and look into the differences before the tax assessment or the accounting export.
4. Finish the review and control the period
Keep the reviewed reports, the reconciliations and the exported files with the period. Define, by company procedure, who may post entries in the reviewed period. Correct later differences with an approved adjustment or by reversing the entry, keeping the reference to the original entry.
Expected result
The period is reviewed, with reconciled balances, supporting reports and a defined correction procedure.
If something goes wrong
If an adjustment cannot be confirmed, check that the sum of debits equals the sum of credits. If a bank or stock balance differs from what you expected, open the General Ledger for that account in the same period and find the source entry.