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 review a Daily Sales Summary to ensure accuracy by comparing POS Reports to your R365 DSS.
Don't blindly approve a Daily Sales Summary without reviewing and validating.
Do approve all DSSs in 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.
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.
FAQ
What happens if I need to post a transaction to a period that's already closed?
R365 blocks new postings to closed periods to protect reported financials. If a correction is needed after close, reopen the period, post the entry, then close the period again.
Why can't I use AP, AR, Undeposited Funds, or Retained Earnings accounts for line-item transactions?
These accounts are reserved for automated system postings. Posting to them manually, or setting them as a Parent Account, breaks the automation R365 relies on to keep GL accounts accurate. Use invoices, payments, or the deposit screen instead.
When does R365 move Net Income to Retained Earnings?
R365 automatically moves Net Income to Retained Earnings on the first day of each new fiscal year. Don't post journal entries to this account manually — see GL Accounts for more on reserved account behavior.
Why isn't my Payroll JE clearing the accrual I expected?
Payroll JEs only adjust accruals from DSS journal entries that have already been approved. If an expected DSS entry wasn't approved before the Payroll JE ran, the accrual won't clear — check the DSS approval status first.
How often should I match bank activity?
Match Bank Activity continuously rather than waiting until period end. This keeps your Bank Reconciliation accurate and prevents a backlog of unmatched transactions at close.