Starting a New Fiscal Year

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About Year End Processing in Accounts Payable

A/P Year End Screen

Starting a new fiscal year requires that you close the current year, transferring current-year activity statistics for vendor groups and vendors to the previous year.

Note: You can use the A/P Year End screen at any time of year if you just need to reset batch numbers or clear recurring-payable amounts. However, you must first complete all the steps listed in the “Before you start” section.

For the year you are closing:

  • Post or delete all outstanding batches.
  • Print all unprinted posting journals to a file or a printer, then (optionally) use the A/P 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 Payable screens, and ask other users to leave Accounts Payable.

To start a new fiscal year:

  1. Open Accounts Payable > A/P Periodic Processing > Year End.

  2. Select the options you want to include in year-end processing. More...

    You can select:

    • Reset All Batch Numbers. Select this option if you want to start batch numbers at 1 again.

      The option resets the batch numbers for all types of batches.

      You can have up to 999,999,999 of each type of batch in Accounts Payable. You do not need to reset batch numbers, except to meet a particular requirement in your company.

    • Clear Activity Statistics.Select this option to enter zeros in the current-year fields on the Activity tabs in the A/P Vendors screen, and to transfer current-year statistical information to the corresponding fields for the previous year.

      When you select this option, the Clear Invoices Paid And Days To Pay Counter option appears.

    • Clear Total Recurring Payable Amounts. Select this option to set the Year To Date Total Invoice and Number Of Invoices to zero in all recurring-payable records.

    • Clear Invoices Paid And Days To Pay Counter.You see this option only if you select the Clear Activity Statistics option first.

      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 A/P Vendors screen.

      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.

    Note: We recommend that you clear activity statistics and the Total Invoices Paid and Total Days To Pay totals only at the end of your fiscal year.

  3. Click Process.