AccountMate Year-End Procedures

1. Make sure to complete all activity for the current year in each of your modules (AP, BR, PR and CL). This includes running any and all reports you require for year-end numbers from these modules and completing your Bank Reconciliation.

2. In the PR module make sure to do your tax deposits (940 and 941), run W-2 reports to verify that they balance to your employees’ earnings reports. If balanced, run a W-2 year-end close after the last payroll of the year but before the first payroll of the new payroll year. After this is completed make sure to have the 2010 tax tables installed so that payroll for the new year will use the correct tax rates. Contact AutoStar Tech Support after completing the W-2 year-end close when ready to load the new tax tables.

3. For AccountMate customers who have consolidated ledger, make sure all subsidiary reports balance to your financial figures before closing.

4. When ready to close the fiscal year, do an end of period in all modules (AutoStar should already have had a close general ledger transactions run). The order this is done does not matter so long as all modules are closed. An important warning about this step: once you run the end of period on your AccountMate modules (not AutoStar) you will be unable to post checks, payroll, bank rec or complete any other activities in AccountMate until a fiscal year-end close is run in the General Ledger. Please make sure you are ready to do this as there is NO way to force the system to allow any activities to occur in other modules short of doing the fiscal year-end close. Important note…do not close the final period of the year in any AccountMate module until you are ready to close the fiscal year in the GL.

5. Once all periods are ended, run any reports out of the GL that you need and then run a fiscal year-end close.

6. At this point you will have the ability to post correcting entries to last year’s GL or to prior year (adjustment period) for any corrections that are required.

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