Overview
The close of day report is crucial for daily operations, providing a financial overview of transactions. It should be generated daily to consolidate all transactions since the last close. If any transactions occur during the day, we recommend completing a close for that day. Missing a daily close means the day's transactions will be included in the next report.
Closing the day merges all transactions since the last close into one report, which consists of four sections: Daily Deposits, Daily Receipts, Daily Transactions, and Daily Down Payments.
This article will outline the process of closing the day, detail each report section, emphasize the importance of reviewing daily transactions before closing, explain how to access reports later, and provide steps to take if the daily close is forgotten.
How to Close the Day
To begin, please ensure that the hamburger menu located in the upper left corner of Cloud 9 displays your desired location for closing the day. Next, click on 'Financial' and then select 'Close the Day.' This will open a screen where you can choose which locations you would like to close, in addition to the selected location in the upper left corner. The screen also provides pages of daily transactions or transactions since the last close was performed.
It is recommended to click on the printer icon and select 'Print Close the Day.' Alternatively, you may choose 'Print Close the Day by Location' or 'Print Close the Day by Provider.' This will generate a PDF that allows for a more thorough review of all transactions, ensuring that all daily transactions are accounted for. We advise reviewing all transactions carefully before finalizing the Daily Close.
Reviewing Close of Day Transactions before Finalizing
The report's first section, titled 'Daily Deposits,' reconciles office deposits with bank records, mainly focusing on cash and check payments from responsible parties and insurance, though it may include other transaction types based on your database configuration. This section covers payments marked as “Is Deposit” in the Edit menu > Setup icon > Transaction Types, categorizing information by transaction type and presenting a grand total at the end.
The second section of the report is titled 'Daily Receipts.' This section will cover all payments processed on that date (or since the last close was conducted), categorized by payment type, with a grand total provided at the end.
The third section of the report is titled 'Daily Transactions.' This section outlines all transactions processed on this date (or since the last Daily close), categorized as follows: Adjustments, Charges, Payments, and Corrections. Each category includes its own total at the end.
The last section of the report is titled, 'Daily Down payments'. If a started contract includes a down payment charge, the down payment charge is listed in this section, with a total at the end.
It is important to review each section thoroughly because you may have a missing adjustment, a missing payment, or a missing transaction or down payment on the date, and reviewing the PDF allows you to get a good look before you finalize the Daily Close. If you need to go back in and post a payment or make an adjustment, you can then come back to the Daily Close screen and use the refresh button to refresh the information. Once you finalize the daily close, it locks in transactions on that date to the location and provider posted.
What If I forgot to Close the Day?
If you happen to forget to close the day on a date with transactions, please do not be concerned. You can simply make a note for the bookkeeping team, as the transactions from the missed daily close will appear the next time you Close the Day. It is advisable to document this for the staff's awareness, but it is also important to try and remember to Close the Day whenever you have transactions on a specific date.
Accessing past Daily Close Reports in Cloud 9
To access a previous daily close report in Cloud 9 for details or financial review, go to the Reports section and type "Daily Close Reports" in the search bar. Click on 'Daily Close Reports' to access a screen with filters for previous reports. Select the checkbox for your desired date, then scroll down and click 'Preview.' For optimal loading times, especially on high-transaction dates, we recommend viewing only one daily close report at a time.
As always, if you have any further questions please do not hesitate to reach out to Cloud 9 Support by emailing us at cloud9support@planetdds.com, or chatting us online using the chat bubble on the lower right at https://cloud9support.planetdds.com/hc/en-us, or giving us a call during our business hours of 8:00 AM EST to 8:00 PM EST at the 1.800.394.6050 option 2.