Year End Processing

At the end of each fiscal year, use the Year End form to transfer current-year activity statistics for vendor groups and vendors to the previous year, in preparation for a new year. You may also want to follow the same procedures you use at the end of each period.

Before you start

Before running Year End, you must:

• Post or delete all outstanding batches.
• Print all posting journals.
• Print the G/L Transactions report, then create any outstanding general ledger transactions.
• Close all other Accounts Payable forms and make sure no other users are using Accounts Payable.

What Year End does

The Year End function performs the following tasks:

• If you select the Reset All Batch Numbers option, Year End resets the next batch number to 1 for all batch types, and deletes all information for posted and deleted batches, so they no longer appear on the Batch Status report.

Note that resetting batch numbers will prevent you from viewing transactions from the General Ledger Transactions form.

• Inserts the Average Days To Pay total from the year you are closing into the Average Days To Pay field for the previous year and into the Total Days To Pay field for the new year in vendor records.
• Clears activity statistics, if you select the Clear Activity Statistics option. This step moves year-to-date vendor activity statistics to last-year activity statistics, and sets year-to-date totals for the new year to zero. It also sets the largest invoice this year and the largest balance this year to zero.
• Resets to 0 (zero) the Total Invoices Paid, Number Of Checks, and the Total Days To Pay fields in the Vendor Activity Statistics tab, in the Vendors form.