Monthly Accounting
Harvest Accounting is committed to providing you with monthly management reports 10 working days after month end. In order to achieve this, we need to work closely together to ensure as few delays as possible. The more information you provide up front, the faster we can deliver!
During the month
Sales
If you are sending sales invoices directly from Xero, please assist to mark the invoices as paid. It can be hard for us to reconcile for transactions of similar amounts when details are missing as we may not receive the payment advice.
It is good practice for you to monitor payments received as sometimes you might only begin work after payment is received.
Expenses
Please submit your expenses to Dext throughout the month. It is best practice to upload your bills and supplier invoices to us as soon as you receive them rather than wait until you have made payment.
This will help us to track in your accounts what is owing to be paid, and not only what has been paid. This is essential for a true picture of your financial position.
Month end
On the day following month end, Harvest will send a checklist from Karbon:
Reminder to submit all expenses through Dext
Bank statements in CSV/PDF format for the month - although we should have a bank feed connected in Xero, we still need to verify that the bank feed has bought in 100% of transactions and there are no variances.
Any other documents we've noted as missing.
Please check off the tasks to acknowledge they have been completed and it will trigger a notification for our team to commence closing.
Once our team has processed the documents they will send a follow up task requesting any missing items.
When further documents are received, we will clear the items accordingly in order to reconcile the bank.
10th Business Day
We will aim to send the completed management report by the 10th business day after month end.
The report will be sent as a link inside an email, which will point to the published report in Xero. This is more secure than sending a PDF copy, and you'll also be able to click into any of the numbers to see what transactions make up the numbers.
If we have not received all outstanding items by the 10th business day, we will send you the report along with a list of uncoded statement lines to be carried forward to the next month end.
Workflow: Monthly Accounting | Financial Year End | Staff Expense Claims| Corporate Secretary