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• AutoPower End of Year Process for A/R, Sales & Inventory
Year End Processes
Follow the procedures below for your Month End Closing on the last business day of your company's fiscal year.
- It is recommended that a File Save Only be performed from the End-of-Day procedure menu. After the File Save Only has completed, label this tape and store it so that it will never be reused.
- Perform your End-of-Month update as you normally would.
- If the company will be closed the day after this procedure is started, you should check on the EOM process to make sure it completes. You may wait until the next business day to spool/print the A/R statements and the remaining End-of-Month Reports.
- Your system recognizes the last day of the accounting year based on your global table set-up, and it automatically performs all year-end changes and updates. There are no additional steps for closing inventory, sales or A/R. No one should be on the system until this process is completed.
- Immediately after the month end closing and prior to invoicing any sales orders, print a detailed Inventory Value Report for each branch and an Accounts Receivable Aging Report.
- Archive your Year End Reports from the Printer Spooler to a CD or tape.
- When the archive of the Year End Reports has completed secure this tape/CD with the Year End Backup Tape.
BusinessPro END OF YEAR
- BusinessPro has the flexibility of working in multiple years at the same time. There is no need to close the year in G/L by December 31st, however, you can close, reopen and re-close the year as many times as necessary. Period ending dates need to be set up for the new year in the GL for each company.
- Auto APGL only allows you to close the year once. When it is time for AP to process Quick Checks for the new year and the previous year has not been closed, then Quick Checks need to post to GL-LIMBO. Do not close any periods in AP until after the year is closed in the GL. If you need us to make a copy of the AUTOGL account so that you can work in both years, please contact the support department.
AutoPower PAYROLL
Payroll only allows you to close the year once. If you do not think you will have 4th quarter reports, annual reports and W2 Wage and Tax Statements printed by December 31st, you will need to contact the support department to make a copy of the account so you can work in both previous and new year payroll accounts. Payroll tax rates for the new year can not be set up until after the current payroll year has closed.
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