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Updating the General Ledger for Month-End Closing

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Do not update the general ledger until all of the other month-end procedures have been completed. When you update the general ledger, ensure that all users are out of the Accounting module, the Desk Manager module, and the Dealer Principal program. It is also strongly advised that Parts and Service exit the system. Service may lock up the inventory file while working on an internal repair order, and Parts may lock up the general ledger file while creating a purchase order.

If any active journal files have not been posted, the system will display a warning to inform you the journals exist. You should research this situation before you continue.

Step 1. From the Dealership Accounting main menu, select Month-End. The Month-End Procedures menu will open.

Step 2. From the Month-End Procedures menu, click Close General Ledger.

Step 3. The closing month populates the Enter The Accounting Period Ending field based on the last month you closed. The system will warn you to verify that the period is correct. Verify the period displayed, and click OK to continue. (If the month is not correct, click Cancel and change the month. However, if you attempt to change the month, the system prompts you to enter a password to continue. You must get this password from an Autosoft Customer Support Center representative. This safety measure ensures you cannot accidentally close the general ledger for the wrong month.)

Step 4. When prompted to verify you want to close the general ledger, click OK.

Step 5. The update begins to run. This may take several minutes depending on the number of files in your system. Do not disturb the system during the update.

Step 6. When the update is complete, the system returns you to the Month-End Procedures menu. Two files will be accessible in C:\ASIME (K:\ASIME for dealerships using a hosted DMS solution); they also save to the server. The files will use the naming convention GR#### and GP####, in which the numbers represent the month and year of the closing. For example, the file GR0416 contains the general ledger receivables information for April (04) 2016 (16). The file GP0416 contains the general ledger payables information for April (04) 2016 (16). These files show printouts of the AR and AP schedules at the time of the General Ledger closing.

Important:  If you have more than one set of books, the files that save to the ASIME folder (AR0416, AP0416, etc.) may be overwritten if you close multiple stores on one computer. Autosoft recommends that you use a different computer to run the closing procedures for each store.

If you must close multiple stores on a single computer, it is important to completely run through the month-end procedure (from closing to burning the month-end records) for one store before starting the closing procedure of any subsequent stores. Go to the ASIME folder and rename the files to the specific dealership name (for example, AP0416-storeA), and then start the process for the next store, ultimately changing the name of the new file that is created to one specific to the store.

 


 

Other articles you may find helpful:

Updating Accounts Receivable for Month-End Closing

Updating Accounts Payable for Month-End Closing

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