At the end of each month, all trust accounts should be closed off and audit reports generated. Closing the month prepares you to trade in a new month.
Commence the EOM process from the 1st of the new month.
There are three steps to complete when processing EOM
Step 1- Processing the final bank reconciliation for the month
Select Trust - Process Bank Reconciliation
Complete the final bank reconciliation for the month.
The bank reconciliation should be processed using "up to and including" the last day of the month.
Select the last day of the month
The transactions listed below should match what is on your bank account statement.
Tick off each transaction against your statement and investigate any transactions that are unticked or missing from the bank reconciliation.
Enter the Closing Bank Balance displayed on your bank statement.
If the Reconciled Balance equals the Closing Bank Balance you are ready to process.
Printing or saving a copy of your Bank Reconciliation Report will also save a copy under the Bank Reconciliation Report History Inquiry
This completes Step 1
Step 2- Creating All End-of-Month Reports
Select Trust - Reports - All End-of-Month Reports
If you have multiple trust accounts, select "All" or an individual trust bank account
Print, Email, or save the reports as a PDF/XPS doc
Printing or saving a copy of your EOM Reports will also save a copy under the End of Month Report History Inquiry
This completes Step 2
Step 3- Rolling the Month Over
Select Options - End of Month
You will receive a prompt to back up the data file
Select "Yes" and Save the backup file externally (BAK file)
DO NOT select continue until you have confirmed the following:
- All trust reports have been processed and printed
- You have created a backup of the data file
If the above steps have been completed select Continue
The End of Month process is now complete.
The current month should now be displayed.
Occasionally you may be required to take a deposit or process a payment before the month has rolled over.
Although Zenu Trust does allow you to do this, you will receive a warning as the system recognises that you are entering a transaction after the current month.
