Fiscal Year End Closeout Procedure

The end of the fiscal year (for us) is quickly approaching. To ensure a proper year-end for
PrintSmith, please follow the below guidelines.

On your last business day, perform a Closeout.
Once complete, perform a Monthly Closeout.

Then, Go to Reports > Monthly Sales.
Perform a year end composite report of every monthly closeout for 20XX by highlighting the months from January – December, (Or, the months of your Fiscal Year.)

Choose the Sales Summary from the pull down menu and click Select.
Print the report. This is your Year End report.

Then run an AR Report (Aging Report) and be sure to print it and SAVE it.
(The saved file will be stored in your archives folder for reference should you need it later.)

Then, Run the Ranking Report by going to Reports > Customer List.
Report Format > Sales Rank Year, Sort by > Sales Rank Year.
Save the Ranking list.

In addition, with versions 7.2 and beyond you can now run add’l Ranking reports. Go to Reports > Account Ranking to run reports like: Number of Orders, Sales by Sales Category, and Balance.

Quit out of PrintSmith and perform a backup of the entire PrintSmith Folder.
Label and store this backup separate from any backups done during the normal year. Especially since version 8.0 has a built in Backup Manager. A good idea is to backup to a CD and label it 20XX PrintSmith Year End Snapshot.

This also a good time to run Sales Analysis Report Writer reports for the year.

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