How to Start a New Fiscal Year in Accounts Receivable for Sage 300

Before You Start

• For the year you are closing:
  • Process all billing cycles (if you use them to perform tasks such as print statements, create recurring charges, and charge interest).
  • Post or delete all outstanding batches.
  • Print any unprinted invoices or deposit slips for posted batches.
  • Print all unprinted posting journals to a file or a printer, then (optionally) use the Clear History screen to clear the data for older posting journals.
  • Create all outstanding general ledger batches (if you do not use the option to create the batches during posting), then print the G/L Transactions report.
• Close all other Sage 300 Accounts Receivable screens, and ask other users to leave Accounts Receivable.

To start a new fiscal year:

1. Open Accounts Receivable > Periodic Processing > Year End.
2. Select the tasks you want to perform during year-end processing. You can select:
   • Reset All Batch Numbers. Select this option if you want to start batch numbers at “1” again. This option resets the batch numbers for all types of batches.
     Important! If you reset batch numbers, you can no longer drill down to view transactions.
     You can have up to 999,999,999 of each type of batch in Accounts Receivable. You do not need to reset batch numbers, except to meet a requirement in your company.

      

   • Clear Activity Statistics. Select this option if you want to enter zeros in the current-year fields on the Activity tabs in the Customers and National Accounts screens, and to transfer current-year statistical information to the corresponding fields for the previous year.
     Note: When you select this option, the Clear Invoices Paid And Days To Pay Counter option appears.

      

   • Clear Total Recurring Charge Amounts. Select this option to set the Year To Date Total Invoice and Number Of Invoices to zero in all recurring-charge records.
   • Clear Invoices Paid And Days To Pay Counter. You see this option only if you selected the Clear Activity Statistics option.
     Select this option if you want to enter “0” (zero) in the Total Invoices Paid and Total Days To Pay fields on the Activity tab in the Customers and National Accounts screens.
     Do not select the option if you want to include previous-year documents in the numbers you use to calculate the entry in the Average Days To Pay field for the account.
3. Click Process.
   If a message appears, telling you that there are outstanding billing cycles to process and asking whether you want to continue:

    

   • Click Yes if you do not do any processing by billing cycle.
   • Click No to cancel year-end processing, and then complete the tasks you need to process by billing cycle.
4. When finished, click Close.