Year end processing

Perform these preliminary tasks to prepare your company for year end:

  • Run year-end procedures in your test company before affecting your live data to familiarize yourself with the functions.
  • Complete month-end procedures before you perform year-end procedures.
  • Check for any open invoice processing journals that you might need to recover. This ensures that your accounts balance properly. Use GL Journal Inquiry to identify open invoice processing journals and run SA Administrator Journal Recovery Report to recover those journals.
  • If you have any automated postings such as GL Entry Batch Update Report that may be scheduled to run during the time you plan to perform GL Administrator Year End Report, disable them and handle those postings manually. This ensures that postings for the new year are made after year-end processing is completed.
  • Run these reports: Customer Trial Balance Report, Run LIFO reports and LIFO year-end processes at this time, if you report by LIFO.Customer Period Analysis Report, Vendor Trial Balance Report, and Product Trial Balance of Stock Inventory Report in addition to GL Financial Statements Report. These reports support year-end adjustments that might need to be made to General Ledger and posted at a later date.
    Note: Do not change the current year in SA Administrator Options-Financials if you are backposting. The correct year is updated automatically.

Perform these tasks to complete year-end processing:

  • Distribute profit through the GL Administrator Distribute Profit Report. Run this function for each period covered by the fiscal year.
  • Ensure that everyone is logged off the system.
  • Execute GL Administrator Year End Report.
If you have completed GL Administrator Year End Report but you need to make additional adjusting entries, perform the following steps:
  1. Post adjusting entries through Run LIFO reports and LIFO year-end processes at this time, if you reportGL Transaction Entry.
  2. Redistribute profit through GL Administrator Distribute Profit Report. Do not post profit to account codes defined in SA Administrator Options-Financials-Profit Dist by any method other than through GL Administrator Distribute Profit Report. GL Administrator Year End Report does not need to be performed again.
If you have not completed adjusting entries, perform these steps:
  1. Perform GL Administrator Year End Report.
  2. Post adjusting entries through GL Transaction Entry.
  3. Distribute profit through the GL Administrator Distribute Profit Report.
  4. Run GL Financial Statements Report.

Post-processing tasks

Check the First Valid Period and Last Valid Period options in SA Administrator Options-Financials-Period Structure to confirm that you can post in the new fiscal year. If periods are not set correctly, the error message "Invalid Period" is displayed and journals will not open.
Caution: 
Before making any back postings after running GL Administrator Year End Report, sign out of the system and then sign in again.

If you forget to run GL Administrator Year End Report, you are able to open any journals for the new year. You do not need to run this function on the last day of the fiscal year, however, you must run it prior to your first day of processing in the new fiscal year.

If you want to make a posting to the previous year, overwrite the posting period and posting date to the previous year. This ensures that non-General Ledger reports, which generally rely on posting dates, match General Ledger reports, which generally rely on posting periods.

You must manually change the inquiries and reports that default to the fiscal year specified in SA Administrator Options-Financials-Fiscal Year to the current year.