General Ledger Standing Journals

Closing Month End Best Practice

This course outlines the typical month end processing timetable, responsibilities and tasks which need to be undertaken to transform the financial information from the trial balance to key financial reports. The tasks will include:- Tracing the financial data from the input systems of AP, AR, Fixed Assets and Payroll to the General Ledger Typical accrual, prepayment and provision journal entry models will be outlined including revenue, OPEX, and various adjustments.Templates, sample working papers and Excel models will illustrate the organization and workflow of the closing process.

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BEST PRACTICE
OF MONTH END
CLOSING PROCEDURES

Closing Month End Best Practice

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Outline

This course outlines the typical month end processing timetable, responsibilities and tasks which need to be undertaken to transform the financial information from the trial balance to key financial reports.
The tasks will include:- Tracing the financial data from the input systems of AP, AR, Fixed Assets and Payroll to the General Ledger Typical accrual, prepayment and provision journal entry models will be outlined including revenue, OPEX, and various adjustments.Templates, sample working papers and Excel models will illustrate the organization and workflow of the closing process.

Trainer

Mr. Jiang has designed and delivered many practical hands-on step by step training courses to accelerate the acquisition of financial management skills. As well as identifying key financial concepts in budgeting, reporting and analysis, he supports this knowledge with many simple and sophisticated Excel models. He also has the ability to access complex BI and reporting tools and make them come alive in common sense ways which can be replicated by the learner back in the office environment.

Package

This course is part of the Financial Closing Package:

Customer

This course is part of the Financial Closing Package:

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Delivery

Public courses are run in our training room without workstations provided. Participants need bring their own laptops. The course is demonstrated using Microsoft Excel 2016, but participants can use Excel 2007, 2010 or 2013 if they prefer. Course materials contain instructions for different versions, and Excel 2011 for Mac users are also catered for. But window system will be needed if you attending SAP-ERP tutorials.

Trial

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CASE 1： EXPENSE ACCRUAL JOURNAL

Steps ：Reversing Journal In ERP Policy
Model： Quarterly Automatic Calculation Model

Case 2：Allowance for bad debt

Steps ： Bad debt write-off and recover journal

Model : Percentage of Sales & Percentage of Receivables

CASE 3：PREPAYMENT AMORTIZATION JOURNAL

Steps ：Cooperate with Accounts Payable
Model : Amortization Calculation Model

CASE 4： PAYROLL STANDING JOURNAL

Steps ：Collect the payroll reports from HR
Model : Transform the activity report to Journal

Case 5： Sales Commission Journal

Steps ：Approximate Match method

Model: Multiple Location and dimension calculation

Comments from past students

The course was very practical with many Excel models and examples. Each of the key concepts was explained and then quickly applied in the classroom. The presenter was accomplished and I now feel confident in this area. Data Manipulation Using Excel Course

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“I have never had the main accounting concepts explained in such a simple way. The 2 days of demystification have opened up my mind as to how to bring the financial dimensions to managing the business. I was particularly informed by the session on monitoring the actual v budget reports.”

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“ The presenter did a great job of presenting the material in a clear and understandable way. The practical exercises were well chosen. The presenter demonstrated his expertise over and over again. I cant wait to apply the new knowledge at work.”