Keywords: monthly close, close the month, monthly production, monthly receipts, monthly adjustments, financial report
Summary
This article walks through the Monthly Close process in Cloud 9 from start to finish. It covers what to know before finalizing, what each report section includes, how to access past monthly close reports, and the best approach for viewing quarterly or annual financial data.
Overview
The Monthly Close consolidates all Daily Close reports by date and should be run at the end of each month. Unlike the Daily Close, which automatically includes all dates since the last close, the Monthly Close gives you the flexibility to choose which specific dates are included in the report. This makes it useful in situations where the month was not closed until a week or two into the following month, since you can select only the relevant dates to keep the report accurate.
Important: Once a Monthly Close is finalized it cannot be undone or changed. Additionally, each period of dates can only be included in a Monthly Close one time. A period that has already been closed cannot be closed again. Plan carefully before finalizing.
How to Close the Month
Navigate to Financial > Close the Month.
On this screen, complete the following:
Period Description
Enter a name for this monthly close file, such as “December 2024.” This is how the report will be identified going forward.
Important: Once the Monthly Close is completed, the Period Description cannot be changed. Make sure it is named correctly before finalizing.
Locations
Select the locations you want to include in this report. You can select all locations or choose one or more depending on how you want to group the data. Whatever you choose in the locations section here determines which daily close reports show to be included in the Monthly Close. In the example below, I have chosen Acworth, and so the only results that it will allow me to pick from are from the Acworth location.
Dates
Select the specific dates you want to include in this monthly close. This is particularly useful if you are closing the month late and only want to include dates that fall within that month. Alternately, you can include dates that are for the year or the quarter, however you want to group the information.
Once all the information is entered, click the green Close the Month button to finalize.
Tip: Before finalizing, use the print button at the top of the screen to preview the monthly close report and review all transactions, similar to the process for the Daily Close. GIF below showing this process.
Monthly Close Report Sections
The Monthly Close Report is divided into three sections. You can view the report and its layout directly after saving or by selecting the print preview option.
Monthly Production
Includes all charges and adjustments designated to “Affect Production.” This designation is configured in Edit > Setup > Transaction Types for each transaction, charge, or adjustment in your Cloud 9 database. Information is organized by charge or adjustment type and includes subtotals for each type along with a grand total at the end of this section.
Monthly Receipts
A detailed listing of all payments received for the selected dates, categorized by transaction type. Includes subtotals for each payment type and a grand total for all payments at the end of this section.
Monthly Adjustments
A comprehensive list of all adjustments for the selected dates, categorized by adjustment type. Includes subtotals for each adjustment type and a grand total for all adjustments at the end of this section.
Accessing Past Monthly Close Reports
To access a previous monthly close report for details or financial review:
- Navigate to Reports and type Monthly Close Reports in the search bar.
- Select Monthly Close Reports from the results.
- Use the filters on the right side of the screen to narrow your results:
Monthlies
Select one month for a specific month’s report, three months for a quarterly overview, or twelve months to view all monthly close reports for the year in a single document.
Break By
Choose None to display all information sorted by date and transaction type, or organize by Location or Provider.
Note: This report is based on Transaction Date and Location Posted.
Login Name
Optional. Allows you to view production, receipts, or adjustments by individual login. For best results, leave this field blank to view all transactions.
At the top of the report you will find options to export the report to PDF, Excel, or other file formats, print the report, or email it for future reference.
Is There a Yearly Close or Year-End Report?
There is no annual close or year-end report in Cloud 9. However, you can use the Monthly Close Report filters to select all twelve months of the year and view the full year’s data in one report. From there you can export, print, or email the report for financial review or to compare annual figures with other reports generated by your office.
The Monthly Close Report also offers flexibility in how you structure your closes. For example, if your practice prefers quarterly reporting, you could close the month on a quarterly basis and select the relevant dates each time. Or you can close monthly and use the twelve-month filter to review annual data whenever needed.
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.