Day End Processing Checklist

Day End Processing Checklist

Insurer

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Explanation
Check
Post Insurance due to Insurer
The posting date will default to today’s date

This process will post insurance set up on loan accounts created since the last time this process was run creating a liability to the insurer account associated with the loan

Accounts

Direct Debit processing is undertaken at the end of the day so changes to standard direct debits can be undertaken as part of the collection process.  

MenuExplanationCheck
Print Direct Debit Report
Print a report of direct debits that are to be taken in the date range specified

Date range will normally be today’s date unless weekends or public holidays need to be processed

Ensure the Show Posting/Suspended flag is checked on so suspended direct debits can be identified and validated

Check the report to verify direct debits being taken are correct

If alterations are required, make these on the loan account and reprint this report

Post Direct Debit Transactions
[F2] to select the bank account direct debits are to be run against

Date range will normally be today’s date unless weekends or public holidays need to be processed

If the process is to cover multiple dates, a separate batch should be created for each day so the cashbook transaction is posted onto the account with the correct value date

The direct debit file must be imported into your banking software after each days batch has been processed as the direct debit file is overwritten

The Reference entered will appear on the client’s bank statement

Dealer

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Print Dealer Payout Report
Report Order will usually be Client Name

Check on Print Transactions if a list of transactions making up the balance to be paid out is required

If transactions are in dispute these can be held or released on the dealer account and this report re-printed

Payout Dealer Balances
[F2] to select the bank account the direct credit batch is to be run against

The dealer remittance advice communication will have been [Preset]

Enter a first cheque number being the first available cheque number from your cheque book for payment to any dealers who do not have a bank account set up on their client details

A separate cashbook transaction will be posted for each cheque payment with the cheque number as the reference

Cashbook

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Some of the above routines result in the creation of cashbook module batches for direct debits and direct credits
  
You must access your banking software to import these batches for processing through your bank account

Communications

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Edit/View Communications
Many of the above processes will create communications

These may be printed immediately after the process has been run or as an end of day process or they can be send via Dispatch Centre as an email

Check on the Not Printed flag and [Print All]

PPSR

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Post PPSR LinkThis link will be run on a regular basis throughout the day, or as an end of day procedure to update the PPSR web site with new or changed financing statements

Backup

MenuExplanationCheck
[Backup] or 

Control | Backup 
Take a backup DAILY

As long as the Filename Prefix is left as _Daily, each daily backup will be overwritten

If a separate backup is required to be kept for each day enter T at the Filename Date and change the Date Format to be DDMMYY

This setup can be [Preset]

It will be necessary to clean up the backup folder from time to time to regain used disk space

Reporting

Some reports are worth printing on a daily or regular basis to keep track of how your business is going.  They provide good management tools for you to work with to maximise the return on your funds or to help efficiently run your business.

Most of the reports detailed below will help ascertain your Cash flow requirements   If they are all printed to the same date, then you can enter these figures into an Excel Spreadsheet and work out your total Cash flow requirements or excesses for that period.  This will give you a better idea of how much you have to lend, or extra funding you will require. You can then maximise the return on your money.

MenuExplanationCheck
Accounts | Operating Margin Report 
This will show you, split by Liabilities and Assets, the return you are receiving on your borrowings and lending

This can help to better redirect your investment efforts into the areas that get a better return

Please note that this report does not take into account Balance Sheet borrowing or lending such as money on call, bank overdraft etc

Accounts | Interest Due Report
This will provide a listing of interest due to be paid to you up to the date specified when running this report

This will be helpful in determining your future Cash flow

Fixed Loan | Next Instalment Report
This will give you an indication of the cash to can expect to collect for the period nominated

This will be helpful in determining your future Cash flow

Deposits | Print Next Interest Details
This will give you an indication of the cash outlay you can expect up to the end dates specified when running this report

This will be helpful in determining your future Cash flow

Deposits | Print Maturing Deposits
This will give you an indication of the cash outlay you can expect up to the end dates specified when running this report

This will be helpful in determining your future Cash flow

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