Run Month-End

The steps below illustrate the standard Month-End procedure. You may decide to run the procedure differently. For example, you may want to run different reports than those displayed. However, if you are having problems closing out the month, refer to these steps for information.

1. From Home Base, click the Accounting button.
2. Click the Month-End button.
3. Click the Print Month-End Checklist button to open Word and display the Month-End Checklist window.
4. Click the Month-End Checklist in the list or click the Select All button, and then click OK to print the checklist of steps used to close the month.
5. You may select another checklist to print or click Cancel to return to the Month-End Procedures window.
6. Before beginning the Month-End process, you must complete all steps in the Preparation section of the Month-End checklist.
7. Click the Generate Service Charges button to generate service charges for past due accounts. This must be done before Month-End is run to ensure service charges are posted in the appropriate month.
   1. Leave All Agencies selected, or deselect it and highlight the appropriate agency.
   2. If you chose a single agency in step a, leave All Branches selected, or deselect it and highlight the appropriate branch.
   3. Check Calculate Service Charge on balances with service charges if you wish to apply charges to accounts that already have service charges.
   4. Check Charge Binder Billed to include binder billed items.
   5. In the frame in the upper right corner of the window, enter the following information:
      • Balances Over X Days Old: Determine how far past due a balance must be in order to apply a service charge.
      • Service Charge Rate: Enter the percentage of the balance that will be applied as a service charge.
      • Minimum Service Charge: Enter a dollar amount. If any overdue balances are small enough that the service charge rate for these balances is less than this amount, service charges will not be generated for those particular accounts.
   6. Click OK to generate the charges.
8. After the service charges have been generated, you are prompted, "Do you wish to refine the generated service charges?" Refining enables you to review a list of accounts that will be charged and remove certain accounts from the list if desired.
   
   Click No to skip the refining process. Click Yes to display the Refine Service Charges window. Here you may double click a client in the Include list (or highlight the client and click Delete) to move that client to the Exclude list (meaning the client will not be charged). To move a client on the Exclude list to the Include list, double click the client, or highlight the client and click Add. Click OK to return to the Month-End Procedures window.
9. Click Accept Service Charges to accept and apply service charges to the customer accounts.
10. Click Initiate Month-End Procedure. A description of the procedure appears in the window.
    
    Note: All customers must be out of the system in order to initiate Month-End.
11. Click OK to accept the default closing month and initiate the Month-End procedure.
12. Click OK to return to the Month-End Procedures window.
13. Click Month-End In-Balance Checks.
    
    Click one of the following buttons to perform the desired function.
    • All Balance Checks: Run all balance checks.
    • Clients: Run balance checks for client and policy balances.
    • Cash Journals: Check the General Ledger balance (Proper Balance) vs. the running balance (Balance on File) for each cash journal account.
    • Accounts Receivable: Check the General Ledger Accounts Receivable balance vs. Aged Receivables less any pre-billed items.
    • Accounts Payable: Check the General Ledger Accounts Payable balance vs. pending vouchers.
14. Click Accounting Reports and select the desired radio button:
    • Setup Accounting Reports: You are taken to the TAM Reports area.
    • • To view/modify the reports that are run at Month-End, click the Month-End button.
      • To add an accounting report to Month-End, either run the report with the Output Destination set to Save as Month-End Report, or run the report with the Output Destination set to Data Preview and then, on the Data Preview screen, click Options, Save as Month-End Report.
      • For a list of recommended Month-End reports/criteria, see the Recommended Month-End Reports and Criteria Settings help file topic.
    • Run Accounting Reports: If no changes need to be made to the currently saved set of Month-End reports, select this radio button to run all saved accounting reports.
15. Click Generate J/Es for Current Month.
    
    Verify the accounting month, then click OK to generate the journal entries.
    
    For a list of journal entries that TAM generates at Month-End, see the TAM Month-End Generated Journal Entries topic.
16. Click View Generated J/Es.
17. Click Print to print the generated journal entries, or click Print Preview to view the entries on the screen.
    
    Note: Click Printer Setup to revise the printer options. Click Cancel to skip printing or viewing the generated entries.
    
    Review each entry closely for incorrect information. Use the reports printed previously to validate the information in the Month-End entries. If any of the entries are questionable, exit from the program without accepting them. If you make any correcting entries in the accounting month to be closed, you must rerun any Month-End reports that were affected by your corrections and regenerate the Month-End journal entries.
18. Click Accept Generated J/Es.  This procedure transfers Month-End Journal Entries for the accounting month listed below into the General Ledger journal entry file. Once they are accepted, no further invoicing activity for this month will be allowed by the system.
19. Verify the Accounting Month and click OK.
20. Click Post Journal Entries to begin the posting procedure.
21. Click the checkbox to indicate that you have run the reports listed and click OK. 
22. Verify the Accounting Month and Month to be posted, then click OK.
    
    Note: If the month posted is the final month of the defined fiscal year, TAM replicates the current chart of accounts for the coming fiscal year and automatically runs the Year-End procedure.
23. Click Statements and then click Customer Statements, Broker Statements, Lienholder Statements, or Finance Company Statements.

• • Customer Statements: Determine which statements will be included and what format will be used, then print the statements.
  • 1. Leave All Agencies selected, or click Selected Agencies to select the appropriate agency/agencies.
    2. If you selected a single agency in step a, you have the option of clicking Selected Branches and selecting the appropriate branch(es).
    3. In the End-of-Month Run frame, make the appropriate selection:
       • Not an end-of-month run: Select if you are generating customer statements outside of the Month-End process.
       • End-of-month run: Select if you are generating customer statements as part of the Month-End process.
       • Create and save balance forwards: Select if you are not sending customer statements and instead wish to move the clients' balances forward to the next month.
    4. Select to print statements for All Customers, enter a Range of Customers, or click Selected Customers to add the appropriate customer(s).
    5. Opt to use No Sort or select the desired sort in the Sort Option frame.
    6. In the Minimum Billing Amount frame, opt to Include all customers with activity, opt to exclude zero and/or credit balances, or enter a specific minimum billing amount.
    7. Adjust the Exclude items due after date if necessary.
    8. In the Statement Format frame, specify whether to use the statement format selected in the client's account detail or to override individual client settings and use All Open Item, All Balance Forward, or All Simplified Open Item.
       • If you select All Open Item, All Balance Forward, or All Simplified Open Item, choose the appropriate statement layout in the dropdown menu below the selected radio button.
       • To add a new statement format, click New Format for the appropriate type of statement. See Statement Setup for instructions on creating a statement format.
       • To edit a statement format, click Revise for the appropriate type of statement. See Statement Setup for instructions on making changes to statements.
    9. Click OK when you are satisfied with the information on the Client Statements screen.
    10. At the Statement Message screen, the default statement message displays in the Include Message field. If you wish to change the message, you can delete the existing text and type a new message in the text box, or click Select under Gallery to choose a predefined message. If you wish to add a new message to the gallery, type your message and click Add New.
    11. Click OK again to print the statements.
  • Broker Statements, Lienholder Statements, or Finance Company Statements: Determine which statements will be included and what format will be used, then print the statements. All options on this screen (other than the Subtotal each customer checkbox) are identical to the options available for Customer statements, so you may consult the section above for more information.

24. Click Cancel to exit Month-End.