cms 2 ye closing+ tm year end & period end preparation & closing cougar mountain software...

Cms2YE Closing+ tm

Year end & Period end

Preparation & Closing

Cms2YE Closing+ tm

Year end & Period end


Cougar Mountain Software

Professional Version

Cms2YE Closing+ tm


Cms2YE Closing+ tm


All Modules

Cms2YE Closing+ tm

All Modules-Y.E. Preparation

Cms2YE Closing+ tm


Set Block period to a period number that will guard against date errors for a prior year (e.g. 01/01/09 vs 01/01/08)

Cms2YE Closing+ tm


Cms2YE Closing+ tm


Use the new Copy Company utility to copy all data files into a separate Company/Organization Code making a mirror-image of your company or organization including security settings. You can find it your CMS program directory (e.g. M:\cmswin), its called ENDOFYR.exe

This can save you time by allowing you to purge years of history while still retaining the data for reference. Since you don’t need to retain years of history in the Company/Organization Code you typically use, your processing time will be shortened with less data for the system to search.

Its best to run this after all the sales, cash receipts and A/P payments for last year are posted. It is recommended to print edit reports on open batches in all modules to make sure that all items remaining do not need to be posted. Also, the back orders, work orders(quotes) and POS hold transaction files should also be examined for transactions that need to be completed/cancelled or posted

Cms2YE Closing+ tm


Cms2YE Closing+ tm


Cms2YE Closing+ tm


Cms2YE Closing+ tm


Making a backup of your data is always a good step

During the yearend process, its even more important

Since the standard backup scheme, gets overwritten the next time its used on the same day of the week, you need to change the directory to a special one that won’t get overwritten, e.g. YE-2008

Copying this file onto a CD or DVD to be stored offsite is recommended

Cms2YE Closing+ tm


Cms2YE Closing+ tm


Cms2YE Closing+ tm


Cms2YE Closing+ tm


Accounts

Payable

Cms2YE Closing+ tm

Accounts Payable Module-Y.E. Preparation

Cms2YE Closing+ tm


The first step to prepare for year end in Accounts Payable is to post or clear all transactions for the year just completed, and print all available reports.

Next, process prepaids and futures. This utility selects all prepaid and futureliability expenses that have reached their expense date, and transfers the expense from the holding account to the expense account.

If you are using the bank reconciliation module, accounting for missing check numbers on the missing check report

Reviewing and cleaning up the AP aging

Review of the last completed bank reconciliation and handling of any old outstanding checks

Cms2YE Closing+ tm


Cms2YE Closing+ tm


After the last A/P check for the year has been posted, the select Reset YTD Vendor Totals to freeze and move the dollar amounts spent with each vendor to the prior year payments field so that accurate 1099’s can be prepared. This should be done on the first work day of the new calendar year (even if your organization is on a fiscal year) This utility clears the YTD purchase, payment and return accumulators, and transfers the amounts in the Current Year column for each 1099 type to the corresponding box in the Last Year column on the 1099 tab of the AP Vendors window.

There is a rebuild utility if this step has not been done properly in the past or this year.

Cms2YE Closing+ tm


Cms2YE Closing+ tm


The Period-End menu contains a variety of utilities to establish period end totals, clean out files, and prepare for the next period. None of these utilities are absolutely necessary to maintain your software. They are provided as accounting tools and organization tools only

Cms2YE Closing+ tm


Cms2YE Closing+ tm


1. Select Process Prepaid & Futures from the Period End menu. Very few users use this feature as it applies to organizations using cash based accounting versus accrual and amortizing of prepaid expenses. Even so, it should be run in case it was used in error. You can also run the prepaid an future reports to see if there are any transactions that have used this feature.

2. Select Prepaids, Futures, or Both.

3. To process the prepaids and futures for just one AP Code, activate the Process For All AP Codes check box, and enter a code in the AP Code field. These fields are only available if you have more than one AP Code.

4. Select OK to proceed, or Cancel to exit without processing.

Processing Prepaids & Futures

Cms2YE Closing+ tm


Cms2YE Closing+ tm


When you enter a bill as a prepaid or a future liability, use this utility to actually expense the bill to the General Ledger.

This utility selects all prepaid and future liability expenses that have reached their expense date, and transfers the expense from the holding account to the expense account.

Processing Prepaids & Futures

Cms2YE Closing+ tm


Cms2YE Closing+ tm


1. Select Purge Monthly Balance History from the Period End menu.

2. Select a cutoff date from the Purge Up Through This Date box. All monthly balances will be purged up through and including the date you specify.


Purging Monthly Balance History

Cms2YE Closing+ tm


Cms2YE Closing+ tm


Use this utility to update the totals on the Monthly Balance History Report. Most companies don’t use this feature. When they do they update their monthly balance histories on one of the first days of the month.

This utility will calculate the total credits, debits, and difference as of the date it is run for your accounts payable. It will generate a snap shot of those totals and use the amounts in the Monthly Balance History Report.

Updating Monthly Balance History

Cms2YE Closing+ tm


Cms2YE Closing+ tm


Resetting YTD Vendor Totals

All of your vendors have accumulating Year to Date (YTD) amounts. These amounts are accumulated figures from posted activity amounts. The amounts will accumulate to the last year, current year, and next year. When the Year to Date amounts are processed, these amounts shift. The current year amount becomes the last year amount, the next year amount becomes the current year amount and what was the last year amount is dropped.

Cms2YE Closing+ tm


Cms2YE Closing+ tm


The Current Year payment amount for each 1099 Type is transferred to the corresponding Last Year 1099 Payments box on the 1099 tab of the AP Vendors window.

1. Select Reset YTD Vendor Totals from the Period End menu.

2. Select Process For All Vendors if you want to reset for all vendors (for example, a regular end of year procedure).

3. If you do not want to reset all vendors’ totals, enter a vendor number of the vendor you want to reset in the Vendor Number box.


Resetting YTD Vendor Totals

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Cms2YE Closing+ tm


Since the dollar amounts paid to vendors in the last calendar year have been moved to the prior year fields in the step Reset YTD Vendor Totals, this step can be deferred until later.

Legally, 1099’s don’t need to be issued before the last day of February but customarily are issued at the end of January

Printing of the 1099’s

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Cms2YE Closing+ tm


This feature deletes all vendors marked as temporary vendors with a balance of $0, eliminating the clutter of vendors that are only used once. This should not be done until after the 1099’s have been printed

1. Select Remove Temporary Vendors from the Period End menu.


Removing Temporary Vendors

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Cms2YE Closing+ tm


Purging Monthly Balance History

Use this option to remove the amounts from the monthly balance history. Very few companies use this feature and it has no accounting relevance so it can be ignored. On those companies who use this feature, most companies purge their monthly balance histories after approximately 18 months.

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Accounts Payable Module-Closing

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Warning

Purging Open Items

BACK UP YOUR DATA BEFORE PURGING OPEN ITEMS. Once you have purged this information, there is no way to retrieve it without a backup or changing to the prior year company code. You may also want to print an aging report before purging so that you have a hard copy of the information.

If a backup is made, it is suggested to put it in a special location, such as

\YE-AP-2008 so that it won’t get overwritten.

The best technique is to copy the AP files only from your ongoing company to your prior year company (e.g. Y08) manually or using our product cms2SY CopyModule that lets you copy one module from one company code to another

Cms2YE Closing+ tm


Cms2YE Closing+ tm


1. Select Purge Open Items from the Period End menu to remove all items with a $0 amount remaining. This will eliminate $0 invoices from your lookups, making bill paying easier. We recommend that this be purged be done after all invoices for last year have been completed and the bank reconciliation is complete. This is usually around 30 days after the end of the year date but can be deferred until much later. The purge through date is suggested to be 90 days prior to year end e.g. For 12/31/08 yearend, purge through 09/30/08.

2. This speeds up the A/P processing's, for the balance of the year by removing paid items from the open file

3. In the Vendor Number boxes, leave it blank to select all vendors.

4. In the AP Code boxes, leave it blank to select all vendors.


Purging Open Items

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Cms2YE Closing+ tm


09/30/2008

Purging Open Items

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Cms2YE Closing+ tm


If you select an invoice from the History tab in the AP Vendors window after you purge open items, you might not be able to review the detail for that item because the detail was purged. Keep in mind that when you purge open items, the details for the purged items are no longer available.

To see older transactions, you can run a history report or switch to the prior year company code (e.g. Y08)

Note

Purging Open Items

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Cms2YE Closing+ tm


Warning •BACK UP YOUR DATA BEFORE PURGING OPEN ITEMS. Once you have purged this information, there is no way to retrieve it without a backup or changing to the prior year company code. You may also want to print an aging report before purging so that you have a hard copy of the information.

If a backup is made, it is suggested to put it in a special location, such as•\YE-AP-2008 so that it won’t get overwritten.

•The best technique is to copy the AP files only from your ongoing company to your prior year company (e.g. Y08) manually or using our product cms2SY CopyModule that lets you copy one module from one company code to another

Purging History

Cms2YE Closing+ tm


Cms2YE Closing+ tm


1. Select Purge History from the Period End menu.

2. Select a cutoff date from the Purge Up Through This Date box. All items up through and including the date you specify are purged.


Purging History

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Cms2YE Closing+ tm


Purging History

01/01/2007

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Cms2YE Closing+ tm


Accounts

Receivable

Cms2YE Closing+ tm

Accounts Receivable Module-Y.E. Preparation

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Period end processing consists of printing reports that disclose and analyze the results of operations in the period that just ended, and then wiping the slate clean to start gathering information in the new period.

This section describes the steps required to complete period end processing.

Cms2YE Closing+ tm


Cms2YE Closing+ tm


In normal business operations, duties for different fiscal periods usually overlap a day or two. Accounting has a built-in feature to deal with the time lag between the actual end of a period and the moment you finally get everything entered, reports and statements printed, and period-end processing completed.

Preparing for Period End in Accounts Receivable

Note Although you do not have to halt operations at the end of a period to perform period end tasks, it is important that you print time-sensitive reports, such as the Aged Analysis Report, before you post in a new period. For instructions on printing this report

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Accounts Receivable Module-Closing

Cms2YE Closing+ tm

Accounts Receivable Module-Closing

As with the other modules, the first task you must do for year end in Accounts Receivable is to post or clear all current transactions and print all available reports.

If you have both Open Item and Balance Forward accounts in Accounts Receivable, you can run the Purge Open Items option just once. For Balance Forward customers, all paid items are removed from the statement and any unpaid items are combined into a single line item called Balance Forward. For Open Item customers, all paid items are removed from the statement, and unpaid items are left on the statement in detail.

Cms2YE Closing+ tm


Cms2YE Closing+ tm


Warning Always back up your data files before running Period End processes. Without a backup, you might find yourself needing to retrieve transaction detail that is not recoverable.

Period End in Accounts Receivable serves three functions:

For open item type AR Codes, it purges all open items with a zero amount remaining from the open item file. For balance forward type AR Codes, it compacts the statement detail into a single balance forward line item.

It resets accumulators that store year-to-date figures for customers to zero.

It purges customer transaction history up to a date specified by the user.

Cms2YE Closing+ tm


Cms2YE Closing+ tm


The exact effect purging open items has on your customer statements depends on whether you have Balance Forward or Open Item type AR Codes. If you have both types of codes, you can run this option once and your AR Codes will be affected in the following ways:

For Open Item type AR Codes, purging open items deletes all open items with a zero amount remaining with dates on or before the date you specify. Run the Purge Open Items option immediately after printing customer statements, usually on a monthly basis. If you run it before printing statements, payment type line items will not appear on the statements.

Purging Open Items

Cms2YE Closing+ tm


Cms2YE Closing+ tm


For Balance Forward type AR Codes, purging open items combines all open items into a single balance due. Run the Purge Open Items option immediately after printing customer statements, usually on a monthly basis. Your next month's statements then show the balance forward and any charges or payments since the last statement.

Cms2YE Closing+ tm


Cms2YE Closing+ tm


To purge the open item file:

1. Prepare for Period End processing (see !Preparing for Period End in Accounts Receivable" on page 633)

2. Select Purge Open Items from the Period End menu.

3. Enter the Customer Range to begin and end purging. To process all customers, accept the defaults of Start and End.

Cms2YE Closing+ tm


Cms2YE Closing+ tm


4. Enter the AR Code Range to start and end processing. To process all AR Codes, accept the defaults of Start and End.

5. Select the Purge Date from the drop-down calendar. The effect this step has will depend on whether the customer is an Open Item or Balance Forward customer.

For Open Item customers, items with zero balances dated on or before the date you specify here will be deleted.

For Balance Forward customers, items with zero amount remaining that are dated on or before the date you enter will be deleted, and items with amounts remaining dated on or before the date you specify will be combined into one Balance Forward amount.

6. Select OK to process, or Cancel to exit without processing.

Cms2YE Closing+ tm


Cms2YE Closing+ tm


Each customer is associated with a distinct set of accumulators that collect and store year-to-date figures. When the reports for these accumulators are printed, they show the net dollar amount of charges less payments and credits.

It is necessary to reset the accumulators to zero prior to entering activity for the new year in order to for the accumulators to accurately track the information.

Be sure to print all the reports you desire and back up your data files before completing these instructions.

Resetting YTD Customer Totals

Cms2YE Closing+ tm


Cms2YE Closing+ tm


To reset the customer accumulators, do the following:

1. Prepare for Period End processing (see !Preparing for Period End in Accounts Receivable" on page 633).

2. Select Reset YTD Customer Totals from the Period End menu.


Cms2YE Closing+ tm


Cms2YE Closing+ tm


Each credit card code is associated with a distinct set of accumulators that collect and store sales figures. Every time a transaction is posted, the transaction amount is added to the accumulators that keep running totals of the posted transactions.

During period end processing, the Current period accumulator is set to zero. Transaction totals are accumulated for the credit card codes, which can be viewed at any time during the period. At the end of the period, when all transactions for the period have been entered and posted, print the sales figures for the codes. The figures show exactly how many dollars in sales were posted to each code during the period. After printing the reports, run Reset Credit Card Totals from the Period End menu to reset the current period accumulator to zero and start gathering the sales figures for the next period.

Resetting Credit Card Totals

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Cms2YE Closing+ tm


When you run Period End, the computer zeros out the current period accumulator, transfers the amount that was in the current period accumulator to the period 01 accumulator, transfers the amount that was in the period 01 accumulator to the period 02 accumulator, and so on for each accumulator.

Cms2YE Closing+ tm


Cms2YE Closing+ tm


Purging history removes unwanted transactions that have a transaction date older than the purge date you specify. Open items (items with amounts remaining) are not affected by this process. The decision to purge transactions is entirely up to you. You may want to purge to reduce the amount of computer hard disk space occupied by the Accounts Receivable history data files, or to speed up processing time when sorting or printing customer history.

Purging History

Cms2YE Closing+ tm


Cms2YE Closing+ tm


To purge customer history, do the following:

1. Prepare for Period End processing (see !Preparing for Period End in Accounts Receivable" on page 633).


3. Enter a purge date. All customer transaction details on and before the purge date will be purged.


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Accounts Receivable Module-Y.E. Closing

Cms2YE Closing+ tm

Accounts Receivable Module-Y.E. Closing


Next, select Reset YTD Customer Totals. Each customer is associated with a distinct set of accumulators that collect and store year-to-date figures. When the reports for these accumulators are printed, they show the net dollar amount of charges, less payments and credits. It is necessary to reset the accumulators to zero in order to start a new fiscal year.

Finally, you may want to Purge History. This option removes unwanted transactions that have a transaction date older than the date you specify.

Cms2YE Closing+ tm


Cms2YE Closing+ tm


BankReconciliation

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Bank Reconciliation Module-Closing

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The purpose of Period End processing is to purge activity detail that is no longer needed from the hard drive, thereby speeding up processing and making more hard drive space available for other uses.

Always make a permanent backup of your data files and print the History Report before purging the history file.


Cms2YE Closing+ tm


Cms2YE Closing+ tm


2. Select the date up to which you wish to purge history from the Purge Up To This Date drop-down calendar. All completed purchase orders that have an order date older than and including the date specified are purged.

3. Select OK to begin purge processing, or Cancel to exit without purging.

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Cms2YE Closing+ tm


GeneralLedger

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General Ledger Module-Y.E. Preparation

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General Ledger Module-Y.E. Preparation

Preparing for Year End In order to be able to quickly and easily retrieve historical information while still

providing for maximum system speed and efficiency by purging as much past data as possible, we recommend using the Copy Company Utility. This utility creates a new company from your historical data, so that you can refer to it at any time. And since you can easily refer to this information using a separate Company Code, you can keep the company data files that you use daily as streamlined as possible, speeding up processing and reporting time.

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General Ledger Module-Closing

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Prior to closing the year in General Ledger, which will post closing entries and roll your Fiscal Calendar forward, you need to carry out year-end procedures in the other modules to ready them for the end of the year.

As with the other modules, the first task you must do for year end in Accounts Receivable is to post or clear all current transactions and print all available reports.


Accounts Receivable

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Cms2YE Closing+ tm


In General Ledger, the computer maintains period balances by reading the transaction dates of the journal entries. Therefore, you do not have to close each period in General Ledger. The only period-end processing you must do in General Ledger is done at the end of the year.

Before proceeding with any of the following procedures, make sure that you have entered balances for all the periods in your fiscal year. If you converted to Accounting after the start of the fiscal year, you may have periods for which there are no balances.

All adjusting entries for the year must be entered and posted before closing the year.

General Ledger

Warning

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Cms2YE Closing+ tm


Do the following to prepare for year end processing in General Ledger:

1. Print a Trial Balance report for each period of the fiscal year. Check it carefully to verify that each period is in balance, and that the account balances are correct.

2. Write down any necessary adjustments, noting the account to be adjusted, the amount, whether to debit or credit the account, and the reason for the entry.

3. After you have identified any errors, enter and post the adjusting entries.

4. Reprint the Trial Balance report for the entire year and check it again.

5. After making all adjusting entries in General Ledger, you are ready to print reports. Reports must be printed before you close the year, because the report information will be lost after closing.

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Cms2YE Closing+ tm


6. Print a complete Audit Trail for all accounts for the entire year. Store this report in a safe place to verify the legitimacy of your financial statements.

7. Print your financial statements, including the Balance Sheet and Income Statement.

8. Check the reports very carefully for accuracy. If the reports must be approved by someone else, get all necessary approvals before proceeding with Year End processing.

9. Make a permanent backup of your data files.

10. If you are running your year end on a date different from the last date of the fiscal year, set the system date to the last day of the fiscal year by selecting Change Local Transaction Date from the Journal menu, and setting the Present Period to Period 12 (or 13 if you are using a 13 period fiscal calendar) in the Fiscal Calendar.

Cms2YE Closing+ tm


Cms2YE Closing+ tm


Purging History removes the detail of the General Ledger Audit Trail, leaving only period balances for each account. You select the fiscal periods to purge. Print an Audit Trail before running this feature so that you have a record of the journal entries before they are deleted.

Purging History

Note This process is not required during closing but is an option that can gain disk space and/or speed.

Cms2YE Closing+ tm


Cms2YE Closing+ tm


To purge the history files, do the following:

1. Select Purge History from the Year End menu.

2. Enter the cutoff date up to which you will purge journal entry history. Type the date without dashes or slashes. History is purged up to (but not including) the date specified.

Cms2YE Closing+ tm


Cms2YE Closing+ tm


3. Activate the Purge Period Totals check box to purge the totals for each period. Leave the check box unchecked to purge only the detail and not the period totals.

4. Select OK to purge, or Cancel to exit without processing.

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Cms2YE Closing+ tm


Run this option after all entries and adjustments to the General Ledger are made and year end processing is completed in all other modules.

After you have finished printing your reports, you are ready to close the year in General Ledger. Year end processing posts the closing entries, rolls the fiscal calendar to the new year, and compacts the audit trail detail into balances forward for each account.

Closing the Year

Cms2YE Closing+ tm


Cms2YE Closing+ tm


To close General Ledger at the end of the year:

1. Select Close Year from the Year End menu.

2. Enter your company's Retained Earnings Account number. If you are unsure of the account number, use the Lookup tool to scroll through your chart of accounts.

Cms2YE Closing+ tm


Cms2YE Closing+ tm


3. Select OK to begin processing, or Cancel to exit without processing.

4. When the Close Year process is finished, print a new Trial Balance for the year and compare it to the one you printed before processing. Note the zero balances in the operating accounts and the change in the equity account balance.

Cms2YE Closing+ tm


Cms2YE Closing+ tm


Order Entry In Order Entry, do the following to prepare for Year End: The first step to prepare for year end in Order Entry is to post or clear all

transactions for the year just completed, and print all available reports. To start the new period with cleared Credit Card files, select Reset Credit Card

Totals from the Period End menu. This resets the year-to-date totals to zero. After you have printed your reports and completed the other Period End tasks,

select Purge History from the Period End menu if you do not require last years sales history.

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Cms2YE Closing+ tm


InventoryModule

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Inventory Module-Closing

Cms2YE Closing+ tm


Inventory implications for year end processing in General Ledger are minimal. It is important to print all inventory reports and store them in a safe place.

The Variance Amounts command in the Period End menu clears the variance accumulators. This option only applies to those using Standard Cost as their valuation method.

The rules for purging history apply to the Inventory module. If you Purge History, all information is deleted.

Print all reports and back up your data files before you purge.

Cms2YE Closing+ tm


Cms2YE Closing+ tm


Period-end processing consists of printing reports that disclose and analyze the results of operations in the period that just ended, and then wiping the slate clean to start gathering information in the new period.

This section describes the steps required to complete period-end processing.

Inventory Period End

Cms2YE Closing+ tm


Cms2YE Closing+ tm


In normal business operations, fiscal periods usually overlap a day or two.

You do not need to halt operations at the end of a period to perform period-end processing. Continue to enter and post transactions in the new period, making sure that you have the correct transaction date entered. Your computer posts them in the next period accumulator.

Preparing for Period End

Note Although you do not have to halt operations at the end of a period to perform

period-end tasks, it is important that you print time-sensitive reports, such as

the Control Report, before you post in a new period.

Cms2YE Closing+ tm


Cms2YE Closing+ tm


Period End in Inventory serves two functions:

It resets variance accumulators to zero if you are using the Standard Cost Method of inventory valuation.

It purges Inventory history up to a date specified by the user.

Warning Always back up your data files before running Period End. Without a backup, you might find yourself needing to retrieve transaction detail that is not recoverable.

Cms2YE Closing+ tm


Cms2YE Closing+ tm


If you use the Standard Cost Valuation Method, variance accumulators associated with the Inventory Codes keep track of the variance between standard and actual costs. The decision to purge variance amounts is entirely up to you.

To purge variance amounts:

1. Select Variance Amounts from the Period End menu.

2. Select OK to clear variance accumulators in Period End.

Variance Amounts

Cms2YE Closing+ tm


Cms2YE Closing+ tm


Purge History removes unwanted transactions from the history file that have a transaction date older than the purge date you specify. The decision to purge transactions is entirely up to you. You may want to purge to reduce the amount of computer hard disk space occupied by the Inventory data files, or to speed up the processing time when sorting or printing Inventory history.

Purging History

Cms2YE Closing+ tm


Cms2YE Closing+ tm


To purge Inventory history, do the following:


2. Enter the date up to which you wish to purge transactions.

3. Select OK to process or Cancel to exit without processing.

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Cms2YE Closing+ tm


OrderEntry

Cms2YE Closing+ tm

Order Entry Module-Y.E. Preparation

Cms2YE Closing+ tm


The purpose of Period End processing is to purge transaction detail that is no longer needed from the hard disk, thereby making more hard drive space available for other uses. Data files can become extremely large, especially towards the end of the year. It is not uncommon to fill your hard disk to the point where processing becomes slow or impossible. Having an excessive amount of history information can also slow the processing of History reports due to the amount of data that must be sorted by the system. By purging some of the information, you can often recover significant amounts of hard drive space.

The data you purge, however, is erased and can only be recovered from a data file backup. Be sure to back up your data files before doing any period end processing, especially data purges.

Order Entry Period End

Cms2YE Closing+ tm


Cms2YE Closing+ tm


Resetting Credit Card Totals

Each Credit Card Code is associated with a distinct set of accumulators that collect and store sales figures. Every time a transaction is posted, the transaction amount is added to the accumulators that keep running totals of the posted transactions.

During period end processing, the Current period accumulator is set to zero. Transaction totals are accumulated for the credit card codes, which can be viewed at any time during the period. At the end of the period, when all transactions for the period have been entered and posted, print the sales figures for the codes. The figures show exactly how many dollars in sales were posted to each code during the period. After printing the reports, run Reset Credit Card Totals from the Period End menu to reset the current period accumulator to zero and start gathering the sales figures for the next period.

Cms2YE Closing+ tm


Cms2YE Closing+ tm


When you run Period End, the computer zeros out the current period accumulator, transfers the amount that was in the current period accumulator to the period 01 accumulator, transfers the amount that was in the period 01 accumulator to the period 02 accumulator, and so on for each accumulator.

Cms2YE Closing+ tm


Cms2YE Closing+ tm


Purging the Deposit Journal

Purging the deposit journal removes unwanted transactions from the deposit journal file. Running this option purges all completed transactions that have a transaction date older than the purge date you specify. The decision to purge transactions is entirely up to you. There is no reason to do so, except you might want to purge some transactions to reduce the amount of hard disk space occupied by the Order Entry data files.

Cms2YE Closing+ tm


Cms2YE Closing+ tm


Warning Always back up your data files before purging the deposit journal. Without a backup, you might need to retrieve transaction detail that is not recoverable.

Cms2YE Closing+ tm


Cms2YE Closing+ tm


Purging History

Purging the history file removes unwanted transactions from the history file. Running this option purges all transactions that have a transaction date older

than the purge date you specify. The decision to purge transactions is entirely

up to you. There is no reason to do so, except you might want to purge some

transactions to reduce the amount of hard disk space occupied by the Order

Entry data files, and to speed up the processing time when sorting or printing

history reports.

Cms2YE Closing+ tm


Cms2YE Closing+ tm


Warning Always back up your data files and print a History Report before purging the history file.

Cms2YE Closing+ tm

Order Entry Module-Closing

Cms2YE Closing+ tm

Order Entry Module-Closing

To start the new period with cleared Credit Card files, select Reset Credit Card Totals from the Period End menu. This resets the year-to-date totals to zero.

After you have printed your reports and completed the other Period End tasks, select Purge History from the Period End menu if you do not require last years sales history.

Purging History in any module destroys all detail information through the date you specify. Do not select this command until you have posted current transactions, printed all reports for the time period you intend to purge and backed up your data files. It may be beneficial to Purge History if you have recorded enough transactions to use excessive hard drive space or create time delays while you are accessing history files (by running history reports, for example) in the software.

Warning

Cms2YE Closing+ tm


Cms2YE Closing+ tm


JobCost

Cms2YE Closing+ tm

Job Cost Module-Closing

Cms2YE Closing+ tm


The options on the Period End menu are associated with tasks and features helpful for performing period end procedures in Job Cost. Refer to this section for explanation of these options.

Cms2YE Closing+ tm


Cms2YE Closing+ tm


JC Purge JobsThe Job Cost JC Purge Jobs window allows you to purge old jobs from your database. This process is not required but, if drive space is an issue, this can free up some drive space. Once jobs are purged they are completely removed.

Make sure to have a complete back before purging.

Cms2YE Closing+ tm


Cms2YE Closing+ tm


See the back of this chapter for step-by-step tasks relating to items on the

Period End menu. Some of these tasks include the following. “How Do I Purge Jobs”?

Purge Up Through This Date

Select a date through which you want to purge job information.

Purge only if W IP equals Zero

Select this check box if you want to only purge job information if the WIP is

zero. This can help avoid deleting job information in error.

Cms2YE Closing+ tm


Cms2YE Closing+ tm


Job Number

Enter the starting and ending number of the job(s) you want to purge. If you

want to purge all jobs up through the date indicated, TAB through these boxes

without making entries.

Class Code

Enter the starting and ending name of the Class Codes you want to purge. If

you want to purge all Class Codes up through the date indicated, TAB through

these boxes without making entries.

Cms2YE Closing+ tm


Cms2YE Closing+ tm


JC Reset Credit Card Totals

Each Credit Card Code is associated with a distinct set of accumulators that collects and stores sales figures. Every time a transaction is posted, the transaction amount is added to the accumulators that keep running totals of the posted transactions. Transaction totals are accumulated for the credit card codes, which can be viewed at any time during the period. At the end of the period, when all transactions for the period have been entered and posted, print the sales figures for the codes.

The figures show exactly how many dollars in sales were posted to each code during the period. After printing the reports, run Reset Credit Card Totals from the Period End menu to move the amounts in the Current and other Period boxes down to the next period and begin gathering the sales figures for the next period.

Cms2YE Closing+ tm


Cms2YE Closing+ tm


JC Purge History

Purging the history file removes unwanted transactions from the history file. Running this option purges all transactions that have a transaction date older than the purge date you specify. The decision to purge transactions is entirely yours. There is no need to do so, except you might want to purge some transactions to reduce the amount of hard drive space occupied by Job Cost data files and speed up the processing time for running history reports.

Cms2YE Closing+ tm


Cms2YE Closing+ tm


Refer to the following tasks for step by step instructions to perform various period end tasks in Job Cost.

How Do I Purge Jobs?

The Job Cost Purge Processing window allows you to purge old job information from your database. This process is not required but, if drive space is an issue, this will free up some drive space. Once jobs are purged they are completely removed. Make sure to make a complete backup of your data files before purging.

Period End Tasks

Cms2YE Closing+ tm


Cms2YE Closing+ tm


To purge unneeded Job Cost files, follow these instructions:

1. Select Purge Jobs from the Period End menu. The JC Purge Jobs window will appear.

2. Enter the Date through which you want to purge job information.

3. If you only want to purge jobs that have $0 in WIP posted to them, check the Purge only if W IP equals Zero check box on the window.

Cms2YE Closing+ tm


Cms2YE Closing+ tm


4. If you want to purge a certain range of job numbers, enter the first job

number of the range in the Job Number Start box, and the last number of

the range in the Job Number End box.

5. To specify a range of Class Codes to purge, enter the first Class Code of

the range in the Class Code Start box, and the last Class Code of the

range in the Class Code End box.

6. To purge all jobs according to date and/or WIP amount, regardless of Job

Number or Class Code, TAB through the Job Number and Class Code

boxes without making entries.

7. Click to begin the purge processing, or click Cancel to exit without

purging

Cms2YE Closing+ tm


Cms2YE Closing+ tm


Each Credit Card Code is associated with a distinct set of accumulators that collects and stores sales figures. Every time a transaction is posted, the transaction amount is added to the accumulators that keep running totals of the posted transactions. Transaction totals are accumulated for the credit card codes, which can be viewed at any time during the period. At the end of the period, when all transactions for the period have been entered and posted, print the sales figures for the codes. The figures show exactly how many dollars in sales were posted to each code during the period. After printing the reports, run Reset Credit Card Totals from the Period End menu to move the amounts in the Current and other Period boxes down to the next period and begin gathering the sales figures for the next period.

How do I Clear and Reset Credit Card Amounts?

Cms2YE Closing+ tm


Cms2YE Closing+ tm


PayrollModule

Cms2YE Closing+ tm

Payroll Module-Closing

Cms2YE Closing+ tm


When you process payroll, you enter periodic leave used for each employee with a periodic leave code. However, most businesses calculate accrued periodic leave only once per period. Use this function for that periodic calculation.

Processing Periodic Vacation and Sick leave adds the amount set up for a periodic leave code to the employee's master record. It is added to the Accrued and the Remaining boxes.

Processing Periodic Vacation/Sick Leave

Cms2YE Closing+ tm


Cms2YE Closing+ tm


This calculation takes place only for periodic leave codes, as defined in the bottom half of the PR Leave Code setup window. Results display in the PR Employee window.

To process periodic leave, do the following:

1. Select Process Periodic Vacation/Sick Leave from the Period End menu.

Cms2YE Closing+ tm


Cms2YE Closing+ tm


2. Enter the periodic leave Code you would like to process. If you leave this box blank, accrued leave for all periodic leave codes are calculated.

3. Select the Accrual Period.


Cms2YE Closing+ tm


Cms2YE Closing+ tm


Payroll period-end processing clears the database and prepares for a new year.

You have three months to process your year-end before you have conflicts with newly posted information. This is because Payroll saves information for 15 months total. The extra three months give you time to complete your payroll taxes and related tasks before you clear the information for the last period.

Closing the Year

Always back up your data files before running Close Year. Without a backup, you will not be able to retrieve transaction detail if it is needed in the future.

Warning

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Cms2YE Closing+ tm


1. Select Close Year from the Period End menu.

2. Select OK to close, or Cancel to exit without closing.

Warning Always complete all other year end tasks, such as taxes and report printing, before you close the year.

Cms2YE Closing+ tm


Cms2YE Closing+ tm


Pointof Sale

Cms2YE Closing+ tm

Point of Sale Module-Closing

Cms2YE Closing+ tm


In Point of Sale, do the following to prepare for Year End:

The first step to prepare for year end in Point of Sale is to post or clear all transactions for the year just completed, and print all available reports. Purging Settled Checks is the next step in preparing Point of Sale for Year-end. Purging Settled Checks removes all NSF checks marked as Settled? in the Maintain Flagged Checks window that have a check date older than and including the purge date specified.

Once all of the NSF checks for a particular checking account and drivers license number have been marked as Settled? and purged from the system using this option, the entire record for that checking account and drivers license number are deleted from the flagged check file.

Cms2YE Closing+ tm


Cms2YE Closing+ tm


The next step in preparing Point of Sale for year-end is Purging Hold/Quote transactions. Invoices on Hold or Quote status are retained in a global batch file until you retrieve them and either convert them into an invoice or delete them.

When a batch of invoices is posted, the Hold/Quote invoices do not post, but remain in the global batch file. To purge the Hold/Quote batch file, select Purge Hold/Quotes from the Period End menu.

Running this option purges all Hold/Quote invoices that have a transaction date older than the purge date specified.

Cms2YE Closing+ tm


Cms2YE Closing+ tm


Inventory implications for year end processing in General Ledger are minimal.

It is important to print all inventory reports and store them in a safe place.

The Variance Amounts command in the Period End menu clears the variance

accumulators. This option only applies to those using Standard Cost as their

valuation method.

The rules for purging history apply to the Inventory module. If you Purge

History, all information is deleted.

Print all reports and back up your data files before you purge.

Inventory

Warning If you have made adjustments in the Inventory module but you do not have Inventory integrated to General Ledger, you must make the same adjustments in General Ledger.

Cms2YE Closing+ tm


Cms2YE Closing+ tm


To start the new period with cleared Credit Card files, select Reset Credit Card Totals from the Period End menu. This resets the year-to-date totals to zero.

Warning As with all Year-end procedures, always back up your data files before purging the Hold/Quote file.

After you have printed your reports and completed the other Period End tasks, select Purge History from the Period End menu if you do not require last year's sales history.

Cms2YE Closing+ tm


Cms2YE Closing+ tm


PurchaseOrder

Cms2YE Closing+ tm

Purchase Order Module-Closing

Cms2YE Closing+ tm


There is no end-of-period Processing in Purchase Order as there is in most of the other modules. Instead, the Purge History option removes completed purchase orders from the history file. Running this option purges all completed purchase orders that have an order date older than and including the purge date specified. The decision to purge completed orders is entirely up to you. The most common reason to purge history is to free up hard disk space.

Always make a permanent backup of your data files and print the History Report before purging the history file.

Cms2YE Closing+ tm


Cms2YE Closing+ tm


To purge completed purchase orders:

1. Select Purge History from the Period End menu. 2. Select the date up to which you wish to purge history from the Purge Up To

This Date drop-down calendar. All completed purchase orders that have an order date older than and including the date specified are purged.

3. Select OK to begin purge processing, or Cancel to exit without purging.

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cms 2 ye closing+ tm year end & period end preparation & closing cougar mountain software...

Documents

tmall modules

fiscal year

new calendar year

current year column

prior year payments

ap check

ap payments

data files