Fiscal Year End Closeout Procedures

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”:

  1. Closeout
  2. Monthly Closeout
  3. Sales Summary (last 12 months, PDF)
  4. Aging Report (PDF)
  5. Sales Ranking Report (PDF)
  6. Backup, Label & Store (in a cool dry place, off site)
  7. 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)

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