Year End

Year End - Accounts Receivable

  1. Make certain that all applicable Simple Invoice and Cash Receipt Registers have been updated for the last fiscal period.

  2. Run the following tasks on the Accounts Receivable Period End Processing menu for the last fiscal period:

    1. Print the Aging Report and compare the total balance to the General Ledger Accounts Receivable account(s).  If not in balance, make any necessary adjustments and repeat until in balance.

    2. (Optional)  Post Finance Charges.  Use the Generate Finance Charges or Finance Charge Entry task.  Print the Finance Charge Register, and run the update.

    3. (Optional)  Print Customer Statements.

    4. (Optional)  Print the Monthly Cash Receipts Journal and Customer Ranking Report.

    5. (Optional)  Print the Order/Invoice Customer Job Report (jobs may be purged automatically during the Accounts Receivable Period End update, based on the Retain Job? field in the Customer Job Number option of the Accounts Receivable Customer Maintenance task and the Months To Retain Jobs field in Sales Order Processing OP Parameters maintenance.)

  1. Back up your data files.

  2. Run the Period End Update on the Period end Processing menu, for the last fiscal period.  

    In addition to the standard period end functions, the current year indicator is incremented. The year-to-date sales and cost of sales figures in the Customer Masterfile and Sales Analysis are moved to last (prior) year. The current year-to-date figures are reset to zero.



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