Account Department - Month End Processing

Navigation tips: ACCOUNTING -> MONTH END PROCESSING.

In Wavelet EMP, all transactions created at different modules, from Point Of Sales to Procurement, from Logistics to Finance and Account will automatically trigger the Accounting module to create the respective Journal Transactions. These journal transactions that are generated on a real time basis allow the users to look at the balances of the general ledgers at Trial Balance on a real time basis.

As Profit and Loss is a General Ledger by itself, and in order to generate the Profit and Lost Statement in split second, the users will have to click on ACCOUNTING -> MONTH END PROCESSING to transfer all the temporary General Ledgers (expenses and revenue) into this Profit and Lost general ledgers. Once the figures are posted to the Profit and Loss Statement, the Trial Balance will show that the "Temporary" General Ledger has been cleared.

Only figures transferred to the Profit and Lost account will be reflected when the users click ACCOUNTING -> Profit and Loss Statement.