Fiscal Year End Closeout Procedures
(Hint: Make a folder called PrintSmith Year End 20XX to store the PDF’s & Backup you will be making.)
Here is the short list “cheat sheet”:
- Monthly Closeout
- Sales Summary (last 12 months, PDF)
- Aging Report (PDF)
- Sales Ranking Report (PDF)
- Backup, Label & Store (in a cool dry place, off site)
- Add’l Reports, if desired
Here is the detailed list:
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. (Make a PDF)
Then run an AR Report (Aging Report) and be sure to print it and SAVE it. (Make a PDF too!) (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. (Make a PDF)
(Tip: The Ranking Report includes Postage so it is NOT completely
In addition, with versions 7.2 & 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 & beyond has a built in Backup Manager.
A good idea is to backup to a CD and label it 20XX PrintSmith Year End.
This also a good time to run Sales Analysis Report Writer reports for the year. (Make PDF’s)