Skip to main content
All CollectionsTraining/Application
Self-study: Analytics "Create Month-End Closure"
Self-study: Analytics "Create Month-End Closure"

This post explains the procedure for month-end closing for accounting.

Urs Goldener avatar
Written by Urs Goldener
Updated over a week ago

0. Information on the month-end closing

There is a time difference between payment via terminal (SIX, Wallee, Post) and the credit to the account. This is especially visible at the end of the month.

For this reason, all figures from the enterprise resource planning system (ERP) are posted to a "pool" account . (This is an active account/group "Receivables")

Posting: pool to goods revenue

And the receipts are from pool with monthly bank/post office statements


Posting: bank/post office to pool

1. All postings from ERP are posted via an active account " pool ".

Posting: pool to goods revenue

2. Receipts/withdrawals are posted by the pool based on the bank/post journal

Posting: bank/post to pool

Conclusion: The balance of the "Pool" account remains a transitory account at the end of the year.

Hint: Print numbers directly from the view

with [Ctrl-P] and "landscape" the page can be printed out.

0.Finance (overview)

Gives a financial overview of a period

Helps to get an overview of finances.

1. Control of shifts + details

Control of shift closures

Errors in the daily closing can be found here.

2. Turnover control and month-end closing postings in accounting

Variant 1: According to monthly numbers

By monthly figures means all receipts from the 1st to the last day of the month, regardless of the shift closure.

Hint: With [Ctrl-P] and "Landscape" the overview can be printed for trustees.

Variant 2: After shift completion

After shift completion means that only the receipts of the month are counted that were completed with a shift completion of this month.

Step 1: Post monthly sales

Posting from ERP:

sales = monthly turnover
( pool turnover - revenue)

Step 2: Post cash

Count the cash in vault if withdrawals were not deposited directly into account.

Cash Posting: Withdraw/cash receipts

Posting: Cash - Pool Turnover

Step 3: Posting card receipts and expenses by SIX, Wallee, Post

Recommendation at Six: daily billing, payout 1x per week on Thursday (5h)

Recommendation for Post: daily billing, expenses once a month

Match inputs with SIX, Wallee, Post

If necessary, look at individual shift closures in detail and check them with a terminal printout.

1. Posting according to bank journal month receipts SIX

Posting: Bank - Pool CARD gross amount with VAT

2. Posting according to bank journal expenses SIX

Posting: Expenses Card - Bank Expense amount without VAT

Conclusion: the rest in the pool are amounts that have been settled at the terminal but have not yet been credited.

Check the balance of the "Pool" account at least once at the beginning of the year with detailed SIX and Post statements. All amounts from the previous year must add up to the pool balance. Settle differences via turnover.

4. Post vouchers/credit note

Giftcard Sold = vouchers sold

Posting: pool turnover - vouchers without VAT

Giftcard Redeemed = redeemed vouchers

Posting: vouchers without VAT - pool turnover

5a. Post invoices

  • Check accounts receivable in Excel

  • Reconciliation of incoming bank payments

  • If necessary, reprint the receipt in the POS app and send it to the customer with the payment slip.

Option: Use accounts receivable tool via Wallee.com.

(AE invoices with details and QR payment slip, automatic comparison with incoming file bank. manual/automatic dunning, automatic status change in the POS app) Cost per invoice CHF 0.08

No posting without open items

Open items accounting: Open items - pool (invoices month xyz)

5b. Invoices/selections
Debtors list

Here detailed lists can be exported to Excel and the debtor control can be carried out with these Excel lists.

6. If necessary, printout of journal (cash register strip)

Printout for possible controls of the tax administration (cash strips)

This data must first be exported to Excel and then printed out if necessary.

3. Expenses control and end-of-month postings in accounting

Reports

1. Total cash book (expenses)

Check list with original expense receipts

Posting: Expenses with / without VAT - cas

2. Cash book total (withdrawals + deposits)

Check list of bank receipts (monthly journal bank).

Posting: turnover pool cash - cash

Posting: Bank - POOL cash

Effective balance

Rest stays in turnover pool cash account

3. Cash book total (differences)

Checking the detailed list of plus and minus amounts on the other day

Effective net differences must be posted via revenue reduction.

Difference/Cash = cash differences

Posting: Reduction in revenue - pool turnover

If necessary, look at individual shift closures in detail

4.Journal lists of Accounts

Journal lists of all accounts

Sales, receipts payment types,
difference, withdrawals, deposits)

These journal lists can be used to display the movements of an account.

Journal lists incoming accounts only

This journal list can be used to display the movements of the receipts per account.

4.Control of Differences

Control of differences

Dashboard for searching differences

Did this answer your question?