Closing year-end

After each fiscal year, these tasks must be complete:

  • Process year-end closing to establish new vendor group period ending dates.
  • Transfer current year vendor period balances to last year.

Before you run the period close program, complete the required preparation steps to ensure that your data is ready to close. If vendor balances do not exist and are incorrect after a conversion, you can rebuild them.

  1. Select Run Processes > Process Month End > Vendor Balance Year End.
  2. Specify this information:
    Vendor Group
    Specify the vendor group.
    New Fiscal Period Ending Dates
    Specify period ending dates for the new fiscal period. Keep the same periods each year so that your historical queries are credible.
  3. In the Report Distribution section, select a distribution list and export type for Vendor Balance Year End Report.
  4. Click Submit to process this action now or click Schedule to schedule the process to run later.