Best Practice Workflow for Accounts on Navigator

Daily Tasks

1. Review Reconcile Reports:

   • Regularly check for any imbalances.
   • Correct any discrepancies yourself if the cause is known, or contact the Help Desk for assistance.
   • The Help Desk will guide you through the correction process or resolve system-related issues.

2. Collect and Process Daily Takings:

   • Gather daily takings from all departments.
   • Process the daily takings journal on Navigator, either through a manual journal or a spreadsheet.

3. Clear Tills and Nominal Linking:

   • After posting daily takings, clear all tills.
   • This helps identify any items incorrectly cleared to tills instead of the bank.

4. Post Cashbook Items & Reconcile:

   • Ensure all cashbook entries are posted and reconciled daily.

Weekly Tasks

1. Close Vehicle Deals:

   • Review and close vehicle deals from the previous week. Used vehicles are typically easier to process than new ones due to potential pending costs like bonuses.

2. Review Work in Progress (WIP):

   • Ensure internal work is released correctly and in a timely manner.

3. Allocate Internal Costs:

   • If using a manual process, allocate internal costs for vehicles. This can be automated if preferred.

4. Update Purchase Ledger:

   • Make sure the purchase ledger is current and up to date.

5. Review Vehicle Debtors:

   • Regularly check that all vehicle debtor accounts are up to date.

Monthly Tasks

1. Close All Deals:

   • Ensure all deals are closed. Accrue costs if necessary to facilitate this.
   • Run a Scheduled Nominal report on the Sales Suspense nominal code as a double-check. If all deals are closed, this should be empty. Any remaining balances are typically due to date/timing issues; just ensure you have explanations and documentation.

2. Reconcile Cashbook:

   • Ensure the cashbook is up to date and reconciles with both the bank and nominal accounts.

3. Review Vehicle Debtors:

   • Act on any outstanding items and reconcile them back to the nominal account.

4. Reconcile VAT Return:

   • Ensure the VAT return reconciles with the nominal account. Also, verify that deposits reconcile with both the nominal and debtors reports in Vehicle Admin (note: this is real-time and cannot be backdated).

5. Review WIP:

   • Ensure that all items that can be invoiced off and released have been processed.

6. Post Month-End Journals:

   • Post all necessary month-end journals, including wages, accruals, and prepayments.

7. Post Vehicle Write-Backs:

   • Ensure all vehicle write-backs are posted.

8. Run Purchase Ledger Payment Run:

   • Complete the payment run for the purchase ledger.

9. Reconcile Petty Cash:

   • Ensure petty cash is reconciled.

10. Send Statements:

    • Distribute statements as needed.

11. Run Month-End Reports:

    • Run all necessary month-end reports, as backdating is not possible (a separate list should detail these reports).

12. Prepare Management Accounts:

    • Compile and run the management accounts.

13. Download Composite Export:

    • Download the Composite export from Navigator and import it into the platform to complete the month-end process.

This structured approach ensures all financial activities are accurately recorded, reconciled, and reported, promoting smooth month-end and year-end processes.