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End Of Year Process

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Time to Perform Your End of Year Process.

The good news is this end of year process should be familiar to most of you. Just in case it isn’t we always like to provide you with a guideline for performing the specific tasks necessary to close the year. These procedures are to be run on the last day of your fiscal year. Typically the calendar year is the Fiscal year; however, if your Fiscal year doesn’t end on December 31, then you will want to follow these steps at the appropriate time.

After your last days End of Day Posting is complete and before you open for business the next Fiscal Day you should do one from each of the following based on your CounterPoint version:

NOTE: V7 = CounterPoint Version 7

          SQL = CounterPoint SQL (Version 8)

1. PRINT TO DISK (V7) or export to DISKFILE (SQL) an Inventory Valuation Report, all locations and/or by location (as applicable)

  • V7 – Inventory > Reports > Standard > Valuation Report
  • SQL – Inventory > Reports > Valuation

2. PRINT TO DISK (V7) or export to DISKFILE (SQL) an Accounts Receivable Aging Report if applicable

  • V7 – Customers > Reports > Aging
  • SQL – Customers > Reports > Aging

3. Make sure that your new Fiscal Year calendar is setup in your calendar file

  • V7 – Setup > System > Calendars
  • SQL – Setup > System > Calendars

4. Year End Close/Setting New Year

  • V7 – System > Year End Close
  • SQL – Setup > System > Company (change the year to the new year)

 

5. If you have SIQ (V7 ONLY) installed, go to

System > SIQ Report Writer > Utilities > Update Current Year ID

If you need additional assistance with closing out your year, please do not hesitate to contact our support team at 770-343-8777 Option 2, or by email at support@softintelligence.com.

Once again, We wish you all a Happy Holiday Season and

a very prosperous New Year!