The end of the year can be a busy time for most. For additional information, we have prepared a white paper for the year-end process.
IF YOU WOULD LIKE TO SCHEDULE NSA TO DO YOUR YEAR-END, PLEASE LET US KNOW AS SOON AS POSSIBLE.
If you don’t want or need to schedule us to do it for you but still come up against some issues or questions, we are available for on-call assistance from now to the end of the year.
There are Four Reports to Run:
There are 4 report-style processes to run in standard CSD / SX.e:
APAY – Clears out the vendor YTD balances, moves them to LY in APSV
ARAY – Clears out the customer YTD balances, moves them to LY in ARSC
GLAY – Copies the chart of accounts (COA) to the new fiscal year
Advances the AO – Financials – Fiscal Year by +1 (from ’22 to ’23),
Puts the balance forward into the asset/liability accounts in new COA
ICAAY – Clears out the product YTD balances in ICSW
Run each of these processes only once.
Run these processes when no one else is in the system.
Each process will produce a one page summary report stating the process has completed.
It doesn’t matter if you run them on the last day of the fiscal year, or the first day of the new fiscal year. Just make sure they are done prior to starting business on the first day of the new fiscal (or calendar) year.
Run these in EACH valid company, and remember to also run these in your test and training databases.
These are normally run by the IT department or by NSA if needed. NSA will be available on call for assistance if you run into any issues. If you would like to schedule NSA to do your year end, please let us know as soon as possible.
We generally use the year at the beginning of each file name so they are all together and easy to identify, i.e. if the fiscal year is 2022:
- 2022aprt
- 2022arrt
- 2022arrp
- 2022glrt
- 2022glra
- 2022glrbp
- 2022glrbt
- 2022icrtt
- 2022icrtn
- 2022icrtd
There are other reports you can run to file as needed, these are just the top ones that we usually do.
Accounting should be running GLAP every month to post profit. If that has not occurred, it can run be multiple times (one for each month/period), the difference on the balance sheet assets to liabilities on the GLRT should net to 0. All journals should also be closed.
The final – FINAL – journal entry for the year is to manually book the earnings out of Current Year Earnings, into Retained Earnings. Once that entry is done, do not backpost. However, if you need to backpost any entry to that year and it will have a P&L affect, FIRST reverse the final entry, then book the journal, rerun the GLAP and post the new Current Year Earnings to Retained Earnings.
If you need to backpost greater than 12 months ago, contact us and we can walk you through it. The entry would need to be made after hours, when no one is on the system (and reports that post such as OEEPI are stopped temporarily.)
If you prefer us to run the year end processes for you, let us know and we can line that up in advance.
Call or e-mail if you have any questions.
The User Group (TUG) members can access the Year End Procedures webinar recording using this link.
Kathy Lundquist
VP of Professional Services
516-240-6021