Christmas comes but once a year, and the same is true of a year-end. For many of us, both occasions present organizational challenges. On the home front, we agonise over what to buy and spend hours trying to keep the dog from eating the tinsel. At work, we rack up stress points as we close out the year, wondering what reports to generate in SYSPRO, what balance functions to run, which GL Integration programs to check, and whether we should deselect the ‘Close Application’ option when processing year-end only. (Yes! You should!)
Seasonal stress, I’m happy to report, is usually avoidable, often through the judicious use of lists. Santa keeps one, and so does every sensible Christmas shopper. Likewise, book-keepers and accountants use lists to make sure that their year-end procedures are efficient, comprehensive, accurate and worry-free.
While it’s true that most organisations in Australia perform year-end in June (to align with the mandatory tax period) many companies, including a good number of manufacturers, choose balance sheet dates that better fit their seasonal circumstances, or the business cycle of their partners and suppliers. Many of our Australian SYSPRO customers choose December for their year-end, which is why my in-box is beginning to light up like a Christmas tree with year-end queries.
Many of the e-mails I receive are pleas for a comprehensive year-end checklist. ‘Please,’ writes Bruce from Indoorpilly, QLD, ‘please tell me everything I need to do in SYSPRO to enjoy a fun-filled year-end.’ Right-0, Bruce, since you’ve asked so nicely, I’ve decided to play Santa and pass along my list, not of who’s naughty and nice (we’ll leave that to the auditors), but of all the things you need to do in SYSPRO to close the books for the year.
Before you do anything, however, let me give you one very important piece of advice that is all too often ignored: copy the live company to a year-end backup company before you process year-end. That way, should you need reports, you have them. If you don’t need reports, then at the very least keep a separate SQL backup. Believe me, you don’t want to be that company that forgets to make backups, mucks up their closing activities, then calls for emergency help in the turkey-sodden days after Christmas. (If you’re inclined to forget about backups, please reread my blog on backups so I can attempt to change your mind!)
Having said all that, I offer you the check list. It’s designed to help any of our SYSPRO customers, no matter when their year-end. I’m offering it now in the spirit of Christmas – a little present for those who enjoy a slosh of egg-nog with their traditional, calendar-based accounting. We sincerely hope you find it useful.