Include Auto Fringe Amounts with your last Payroll of the year, so that all taxes
will be withheld.
BACK UP data files when payroll is complete.
Make sure that you have ran Post Expenses to GL in Periodic Processing.
Select Periodic Processing, Periodic Maintenance, Year End. This process will
create Last Year Files, and clear out all figures Period, Quarter and Year to Date
in the employee history file. It will also remove any terminated employee’s names
from the New Year Files. Transaction and Check History remains unless you
specifically ask the system to purge those files. New with version 7.5 comes the
ability to Keep multiple payroll years. Now when you F9 you select the year you
want to work in.
Delete any outdated recurring entries.
Install the Payroll Tax Routine updates for 2009 AFTER you have created the
New Payroll year.
We would be happy to assist remotely with this process. We do
request that you notify us in advance of when you are expecting to perform this
process so we can plan appropriately.
General Ledger
Print the Chart Of Accounts answering YES to Print Clear/Consolidate. Check
that all income statement accounts have an account type between 500-899, all
Balance sheet accounts have an account type between 005-499 AND verify that
the step and Clear To account information is included for each GL account that
will be cleared (These would be Revenue and Expense accounts).
Press F9 to access last year’s files (2007). Make sure all entries have
been
posted to the master and that the current year has been updated and match your
taxes filed for 2007.
BACK UP your data files.
Select Periodic Processing, Create Last Year Data. Enter your Retained Earnings
Account number and answer the questions about moving Budgets. NO ON ELSE
MAY BE IN THE SYSTEM WHEN YOU DO THIS.
Remember to Update Current Year each time you go back into the GL Year
2008 and post entries to the master file so that your 2009 year beginning
balances will reflect these changes.
Accounts Receivable/Sales Order
Complete normal processing for the month
Write off any Bad Debt or other year-end adjustments.
Calculate Finance Charges
Print Statements
Print and Clear Sales tax Report
BACK UP your data files
Run any Period end reports that you normally do.
Select Periodic Processing, Periodic Maintenance, Year End. This process will
clear out the history information Period, Quarter and Year to Date in the Customer
master file. It will not delete any detail or summary history.
Print an Open Invoice Report or Aged Trial Balance so you will have one as it
looked on 12/31/08. You can add sales and adjustments by posting to the last
year and re-running your report using proper dates.
Using Purge Select files Purge Paid invoices with dates before 01/01/09 or Period
01/2009.
Purge any detail or summary histories that you want to now OR you can wait until
another time when you are not so busy with year end.
Accounts Payable/ Purchase order
Complete normal processing for the month.
Run period end reports that you normally do.
BACK UP your data files
Select Periodic Processing, Periodic Maintenance, Year End. Answer YES to
Move 1099 Payments YTD to last year.
Run an Open Invoice Report and/or an Aged Trial Balance Report to have one
printed at the exact year end. (You can run this report later to include the rest of
the purchases that were entered after the year end and posted to the last year.)
Use Purge Selected files to remove all paid in voices in the open invoice file
dated before 01/01/09 or by Period 01/2009.
1099’s can be run using last year 1099 information that was just moved over at
anytime you want. This allows you time to make adjustments to 1099 vendors and
amounts.
