Year end procedures:
1. Ledger, Closing periods – Even if you don’t use the General Ledger, it is a good idea to close periods, as it will decrease the time it takes to run diagnostics, and it will prevent data entry errors with old dates. This can be found at: Menus > Ledger > Close “month, year”. Closing periods is non-destructive. You do not need to close the entire year.
2. Updating the Vendor and Customer Year to Date Sales and Expenses. This will prepare the datafile for the new year’s figures.
Menus > Maintenance > Programmer’s > *PROG* > Procedures > Customers, Reps > Customer YTD/Prev Yr Sales
Menus > Maintenance > Programmer’s > *PROG* > Procedures > Vendors > VendorYTD Payments
These must be run AFTER January 1, and the timing is not critical.
3. Diagnostics – Its not a bad idea to start the new year with a clean diagnostic report.
4. Payroll. Pay all taxes for the current year before inserting any payroll records for the new year. W-2 forms do not need to be printed right away. Then upgrade to the latest payroll library and open the Tax windows to update to the current year tax rates. Under Payroll Maintenance, do the Employee Year End reset.
5. Burn an archival CD of the PFDATA file(s).