Month-End

All transactions entered throughout the month affect the general ledger. The Month-End program eliminates the need to record these entries individually through the Enter Journal Entries program. The purpose of the Month-End program is to generate Month-End production in journal entry form, review the entries for accuracy, and finally post the entries to the General Ledger. The following guidelines apply to this program.

You may generate Month-End journal entries as often as you want; however, you may only accept them once for each month.
Do not use this option if your system has been installed to generate manual Month-End journal entries.
If the month being posted is the final month of the defined fiscal year, TAM replicates the current chart of accounts for the coming fiscal year, changes the fiscal year to the next fiscal year, gives income and expense accounts a balance of zero, transfers the balance of all other accounts to the same account in the first month of the next fiscal year, and transfers the net profit or loss to the Retained Earnings account.
Month-End is a global process that is run for all agencies. Users' rights to specific agencies are not verified. Therefore if a user has access to any part of Month-End, the process runs for ALL agencies.

The following options are available through Month-End.

Print Month-End Checklist: Used to print a checklist of things to do when closing an accounting month. (Note: If you are not using TAM's accounting features, use the Month-End Checklist when NOT Using Accounting instead.)
Generate Service Charges: Used to generate service charges for past due accounts.
Accept Service Charges: Used to apply service charges to past due accounts.
Initiate Month-End Procedure: Alerts TAM that you are initiating the Month-End Procedure, ensuring that no one enters any additional activity in the month being closed.
Month-End In-Balance Checks: Validates your receivables and various accounts before the month is closed.
Generate J/Es for Current Month: Used to generate the Month-End journal entries.
View Generated J/Es: Enables you to review the system-generated entries for accuracy and correctness.
Accept Generated J/Es: Accept and apply the entries to the appropriate general ledger accounts.
Post Journal Entries: Close the month.
Management Reports: Enables you to run several Month-End Management reports without having to exit the Month-End program.
Accounting Reports: Enables you to run several Accounting and Month-End related reports in a number of ways without having to exit the Month-End program.
Statements: Used to print client statements after the Month-End procedures are complete.

Note: Use the Print Setup button to revise the printer options if necessary.

This section of the manual contains information on the following topics.