Having daily, weekly and monthly checklists for your accounting system improves accuracy and efficiency. Over the next three weeks, we’ll be sharing our recommendations for each.

To kick things off, we’ve compiled a list of items to check daily. It’s a short list, but will make weekly and monthly checks run more smoothly.
First, run the deposit report and balance the cash. Ask yourself, “Does the amount on your bank deposit slip match this report?

Then, review how items are displayed in the deposit report. Multipub users should be sure each payment or refund has a type check associated with it. The following items should be true:

  • Payments and refunds with a type check should be posted to the general ledger (GL) account of the same type check.
  • If there isn’t a GL account on the type check, payments entered in data entry are posted to the GL cash account for the appropriate product.
  • Refunds entered in cancellation entry without a GL account should be posted to the GL refund account for the applicable product.

Be sure to stop by next week to see our weekly checklist.