Start a New Fiscal Year
Overview
Starting a new fiscal year requires that you close the current year, transferring current-year activity statistics for vendor groups and vendors to the previous year.
The Year End function performs the following tasks:
-
If you select the Reset All Batches Numbers option, Year End resets the next batch number to 1 for all batch types and deletes the posted and deleted batches, so they no longer appear on the Batch Status report.
Note that if batch numbers are reset, you can no longer drill down to view transactions.
- Moves the Average Days To Pay and the Total Days To Pay amounts to last year.
- Clears activity statistics, if you select the Clear Activity Statistics option. This step moves year-to-date activity statistics to last year activity statistics, and sets year-to-date totals to zero. It also sets the largest invoice this year and the largest balance this year to zero.
- Resets to 0 (zero) the Total Days To Pay on the Statistics tab of the Vendors and Vendor Groups forms, and resets the Total Invoices Paid totals on the Statistics tab of the Vendors form (if you select both the Clear Activity Statistics option and the Clear Invoices Paid And Days to Pay Counter option).
- If you select the Clear Total Recurring Payable Amount option, clears the total amount accumulated for each recurring payable, so that you can resume processing the payables in the new year.
Before
you start
For the year you are closing:
- Post or delete all outstanding batches.
- Print all unprinted posting journals to a file or a printer, then (optionally) use the Clear History form to clear the data for older posting journals.
- Create all outstanding general ledger batches (if you do not use the option to create the batches during posting), then print the G/L Transactions report.
- Close all other Sage 300 ERP Accounts Payable forms, and ask other users to leave Accounts Payable.
To start a new fiscal year:
-
Open Accounts Payable> Periodic Processing > Year End.
- Select the options
you want to include in year-end processing.
You can select:
- Reset All Batch Numbers. Select this option if you want to start batch numbers at 1 again.
- The option resets the batch numbers for all types of batches.
- You can have up to 999,999,999 of each type of batch in Accounts Payable. You do not need to reset batch numbers, except to meet a particular requirement in your company.
- Clear Activity Statistics. Use this option to enter zeros in the current-year fields on the Activity tabs in the Vendors form, and to transfer current-year statistical information to the corresponding fields for the previous year.
- When you select this option, the Clear Invoices Paid And Days To Pay Counter option appears.
- Clear Total Recurring Payable Amounts. Use this option to set the Year To Date Total Invoice and Number Of Invoices to zero in all recurring-payable records.
- Clear Invoices Paid And Days To Pay Counter. You see this option only if you select the Clear Activity Statistics option first. Use this option if you want to enter 0 (zero) in the Total Invoices Paid and Total Days To Pay fields on the Activity tab in the Vendors form. Do not use the option if you want to include previous-year documents in the numbers you use to calculate the entry in the Average Days To Pay field for the account.
- Click Process.
- When finished, click Close.
Additional
information
- You can use the Year End form at any time of year if you need to reset batch numbers or clear recurring-payable amounts. However, you must first complete all the steps listed in the preceding “Before You Start” section.
- We recommend that you clear activity statistics and the Total Invoices Paid and Total Days To Pay totals only at the end of your fiscal year.