Review the Accounting Do's and Don'ts to help you stay successful with Accounting in R365!

Daily Sales Summary

• Do make sure that your DSS is validated to ensure accuracy by comparing POS reports to your R365 DSS
• Don't blindly approve a DSS without reviewing and validating
• Do approve all DSSs within Payroll Journal Entry date range before approving the Payroll JE because Payroll JEs will only adjust accruals from approved DSS Journal Entries

Payroll

• Do set your Payroll JE ending date to match the header date to ensure clearing accruals to zero in the GL Detail
  • Note: This is based on whether cash or accrual-based Accounting practices are being used for Payroll
• Do check that accruals have been cleared upon approving each Payroll JE to prevent a growing balance of uncleared accruals

Bank Activity

• Do compare your Bank Reconciliation ending balance to the GL balance before period close
• Do keep your deposit screen maintained to prevent a growing balance of undeposited funds
• Don't wait until the end of the period to match Bank Activity
• Do be thoughtful in how you create Bank Rules

Period End

• Do close your periods after each period is reconciled and adjusted
• Don't post transactions to closed periods

GL Accounts

• Don't use Due To/Due From, AP, AR, Undeposited Funds, or Retained Earnings GL Accounts for line-item transactions or make them a Parent Account of any other GL Accounts
• Don't post JEs to Retained Earnings because R365 will automatically move Net Income to Retained Earnings on the first day of a new Fiscal Year
• Do use Invoices, Payments, and Credit Memos for all AP/AR Transactions