PFW – Tips and Tricks for a Smooth Year-End Process
Tuesday, November 24, 2009
For companies running on a calendar year, it’s time to go through the year-end procedures. Here are some tips that will help your year-end processing go as smoothly as possible.
1. Create a Trial Balance in FRx: You can save yourself a lot of time and effort by using the simple FRx Trial Balance Report. Be sure to close prior periods for maximum effectiveness.
2. Reconcile the submodules prior to distribution: It is strongly recommended to reconcile your submodules prior to distributing them to the General Ledger. This will enable you to catch issues before they go to General Ledger.
3. Make sure any prior year transactions have been posted: This helps ensure a zero error year-end edit list.
4. When generating future period dates, be sure to go from the first day of the period to the last day of the period: If you are generating period dates for a calendar year (for instance, Jan 1 – Dec 31), be sure to put 01/01/xxxx in the begin date and 12/31/xxxx in the end.
Make sure you do a back-up prior to using any utilities, and if you have any further questions, contact your Sage Business Partner or CS3 Technology.