Accounts Receivable Year-End steps

Complete these tasks for a clean year-end process:

• Enter all invoices, orders, receipts, and transactions. Post them to subledgers, and the General Ledger.
• Complete period-end transactions, including interest batches, retainage batches, write-off batches, and recurring transactions.
• Identify items required for fiscal year-end versus calendar year-end.
• Back up your databases.
• Open Common Services, then Fiscal Calendar to create a new fiscal year. Do this only once.
• Lock unused fiscal periods in the current and new fiscal years to reduce errors.
• Ensure no users work in modules when you clear data.

Clear history

• Print reports before clearing data. You can’t access cleared data afterward.

Delete inactive records

• The date range applies to when the record became inactive.
• Ensure the customer has zero balance and no outstanding transactions.
• Clear fully paid documents before deleting the inactive customer.

Year-end processing

• Reset all batch numbers to remove transaction history and details.
• Clear activity statistics to move current year data to last year totals.
• Reset the new year totals to zero.
• Clear invoices paid and days-to-pay counters in the Customers, and under Statistics tab.
• Clear recurring charge year-to-date statistics if required.