Month End Process Checklist

Step by Step Guide.

Month End Run — Step-by-step guide

1) Start the Month End Payment Run (Accounts Payable)

1. Go to Accounts Payable → Create Payments (Month End).

2. Set the Payment Run Date to the last day of the prior month.

   • Example: If you’re running month end on 1st/2nd of the new month, the run date should still be the previous month’s final day.

3. For each property:

   • Click Process to include it in the run and calculate management fees.

   • Do not click Skip this property unless you intentionally want no management fees calculated for that property.

Approval note

• If the Property Manager (PM) submits Month End, the Trust Accountant (TA) must approve it:

  • Go to Accounts Payable → Approve Payments → Approve the run.

2) Generate the Payment Outputs (EFT / BPAY / Cheque)

1. Go to Accounts Payable and generate payments via:

   • Generate EFT, Generate BPAY, or Generate Cheque (as required).

2. Then open:

   • View EFTs and BPays or View Cheques

3. Assign the payment number (required).

4. Download the payment file:

   • For EFT, download the ABA file.

3) Upload Payment File(s) for Approval

1. Upload the payment file(s) into your approval process/workflow (per your internal steps).

2. Ensure the file type matches the payment method:

   • EFT (ABA) file for EFT payments

   • BPAY file(s) where applicable

4) Process Payments via the Trust Bank Account

1. Upload/process the approved payment file(s) to the bank:

   • EFT (ABA) and/or BPAY to the Trust Bank Account.

5) Email Remittance Advices (Accounts Payable)

1. Go to Accounts Payable → View EFTs and BPays.

2. Send Remittance Advice(s) to relevant recipients.

6) Close Calendars for All Properties

1. Go to Configuration → Manage Calendar.

2. Select the current period:

   • Example mapping: July = Period 1, June = Period 12.

3. Select All properties.

4. Click Close All.

7) Run Owner Reports (Management Reports)

1. Go to Management Reports → Run Owners Reports.

2. Choose reporting scope:

   • If all properties are selected, the report will be emailed to you.

3. Optional: email directly to owners

   • Tick E-mail owner to send the report directly to the owner.

8) Generate Month End Report Package

1. Go to Month End → Report Package.

2. Produce/download the final month end package per your standard filing/distribution process.