RIMAS for UNIX Software Installation

To: All Users of SLG General Ledger System

From: The SHARED LOGIC Group, Inc.

Re: Period-End Processing and Closing

Date: February 16, 2004

_________________________________________________________________________________________

The following is a discussion of the programs that should be run and procedures that should be followed at the end of the period, related to reporting and closing General Ledger. As you review these steps, you will find that not all steps are required (though some optional steps are recommended). You should revise this outline to satisfy your company’s requirements.

A variety of programs are run to create and post batches in General Ledger. These may include most or all of the following:

Interface A/R to G/L Detail (Scrap or Steel)

Interface A/P to G/L Detail (Scrap or Steel)

Interface Payroll to G/L Detail

Interface Fixed Assets to G/L Detail

Interface Freight Accounting Accrual (to G/L Detail)

Interface Micro-Steel to G/L Detail

Input, Print and Update General Journals to Detail

Input, Print and Update Standard Journals to Detail

All of the above create batches of transactions in the Detail Journal. These are reported, posted and cleared by running:

Print Detail Journal

Update Detail Journal to Accounts

Update to Delete Posted Detail

After all of the detail transactions have been posted to General Ledger, the following reporting should be performed:

Print Trial Balance (although you may run this several times to review your detail)

Print Financial Statements

There are three (3) programs that must be run as part of the period-end closing process:

Print Maintenance Audit List

Create Maintenance Audit List

Update All Files at End-of-Period

You may now continue processing the new period. Any activity entered after this point that should have been part of the period just closed, probably should be posted to the new current period. Under normal circumstances, you should not post additional transactions to a period that has been closed.

After the last accounting period of the fiscal year has been closed, the Audit Period must be opened. You are referred to the separate procedure that discusses opening and closing the audit period for processing details.

Report retention must be determined and documented by each General Ledger system user.