A really productive first day back at the office following our shutdown:
1) Cash book closed - check
2) Sales Ledger closed - check
3) Purchase Ledger closed - check
4) VAT and Intrastat reports run - check.
Now, on a normal month things don't run this smoothly. It's just that for this year end we made a real effort during December to get all the reconciliations done etc. I read with interest the Any Answers thread on VAT on payments on account. We really try to avoid suppliers who insist on pro-forma invoices for this very reason. The amounts are normally piddly anyway, and the transactional work is around four times as much - with all sorts of manual folders and checklists and ticking to keep track of everything.
Luckily we cleared some tricky older ones in December - which often tended also to be from overseas - so difficult to get quick reactions from.
I closed the purchase ledger today, whereas we used to wait until no more current month invoices arrived. This is because we spent a lot of time during 2015 working on our accruals report. This report used to have a long tail of probably bogus information going back a couple of years - rendering it totally useless.
We managed to get it down to no older than current month plus two prior months. So now I am happy to place some reliance on this. It is auditable at this level as well.
Cash book is easiest to close - although even then it is easy to miss things. A common one is to run the revaluations, but forget to change the date so they post in the new month. We did't get caught with that one.
Because we closed all the sub ledgers in one day, it was nice to get a VAT report that didn't include any future data. Sage 200 is funny in that it will only run VAT reports that are date based - which means that transactions posted in the 'new' month with the 'old' months date on always get included. This makes it difficult to tie the VAT return back to the nominals. From memory, the predecessor (Sage MMS) used to have the option of running VAT by periods instead.
I really hate Intrastat - mainly because it asks for information not readily to hand in my system - such as the weights. We could add them, I suppose, but the thought of doing that brings on a migraine - that and adding commodity codes.
Now - I wonder what can go wrong - hopefully not much as the audit starts in 13 days..