Go live - one-time setup 

• Connect bank, create credit cards and bank accounts in advance and post accordingly. Subsequently reconcile balances with bank
• Create chart of accounts in xentral for preliminary account assignment of invoices
• Adjust auxiliary accounts for sales revenue
• Link products with G/L accounts
• Possibly set up numbering of customers and vendors
• Define in master data where the customer is located (EU, third country, domestic), link to sales accounts (customer/vendor number corresponds to account number)
• Make DATEV connection (important if in Germany)
• Decide for UO or export as CSV
• Define number ranges for invoices and credit notes (if necessary per project)

Regular tasks

• Post bank and credit card (bank statement) daily - Incoming and outgoing payments (depending on the size of the company)
• Start direct debit monthly → select whether all or only some (Payment Transactions module)
• Execute payment run for payables weekly (Payment Transactions module)
• Create credit notes, set up repayments, check double payments from customers, correctly allocate bank statement daily 

• Carry out cost center posting regularly - create cost centers in xentral and Datev once in advance for posting (also in Datev Cost Center module) → Assign correctly, e.g. by department

• Check open items monthly

• Import wages into Datev, import CSV file from tax accountant to Datev monthly

• Post prepaid expenses monthly (from costs for one year divided to individual months) → relevant for larger customers, high invoices

• Enter fixed assets in Datev, in xentral only assign G/L account (rather done by tax consultant)
• Post accruals monthly if desired 
• Check expense and income accounts (P&L) monthly.
• If credit note from 2020 to be reversed (in Germany) → pay attention if 16 or 19% VAT, sales accounts automatic accounts (only domestic) → change date to old year, check once
• Check: Assign cost centers correctly, assign correct balance sheet accounts monthly.
• Check creditors, debtors monthly in Datev
• Execute dunning weekly
• Start invoice run weekly from xentral
• Assign invoices to receivables (contribution reduction, change of number) weekly
• Carry out cash posting weekly 

• Enter travel expenses monthly

• Perform advance VAT return: Only via DATEV → no G/L account postings possible in xentral

• Reconcile bank account and xentral daily

• Enter liabilities daily

• Perform DATEV export and import data into Datev monthly

• Compare total sales, liabilities and revenues between Datev and xentral monthly (only after DATEV export)

• Reconcile account balance of Datev and xentral monthly at month-end closing