SIRE: a practical guide to your purchase and sales registers
What SUNAT's proposal is, when to accept, complement or replace it, and how to avoid observations in your electronic registers.
A good monthly close is not done on the last day: it is the result of an orderly routine throughout the month. These seven steps help you close faster with reliable information for management and for SUNAT.
1. Record all the period's transactions
Sales, purchases, professional fee receipts, expenses and cash movements. The more you record during the month, the less work is left for closing.
2. Reconcile your bank accounts
Compare your books with each bank statement and identify differences: fees, uncashed checks, unidentified deposits or duplicate payments.
3. Review receivables and payables
Analyze balances by customer and supplier, advances pending application and overdue documents. This is the time to spot collections at risk.
4. Match inventory with the books
The valued kardex must match the inventory balance in the books. If there are differences, check receipts without invoices, issues without documents and pending import costs.
5. Record accruals and adjustments
Fixed asset depreciation, labor accruals (vacations, CTS and bonuses), expenses incurred but not yet invoiced and other recurring monthly entries.
6. Calculate exchange differences
Update foreign-currency balances (banks, receivables and payables) with the closing exchange rate and record the period's exchange difference.
7. Review, report and lock the period
Review the trial balance, reconcile it with your SIRE purchase and sales registers, generate the financial statements and lock the period so nobody changes information already reported.
Tip: build a closing calendar with owners and dates for each step. Repeating the same sequence every month is what reduces closing time the most.
Closing in CIGE Fi
CIGE Fi automates recurring entries and exchange differences, reconciles banks, integrates every module's transactions online and lets you drill down from any balance to the entry behind it. That can cut monthly closing time by up to 30%.
This article is for information only. The order of the closing processes is carried out according to the reality of each company.