Wow — how time flies! Summer is behind us, and it’s already time to start thinking about Year-End 2025. Can you believe it?
To help you stay on track, we strongly recommend reviewing our End of Period Procedures before the end of the year. These steps are designed to keep your data accurate and your reporting smooth.
A Quick Refresher
Ideally, you’re already doing some monthly procedures and closing your journal each month. If you’re not doing that yet, no worries! At minimum, we want you to complete a Year-End close. You can always run through our short procedures quarterly or mid-year as well.
Important: Some steps must be completed before year-end, while others can be done after. Be sure to check out the full instructions on our support website under Knowledge Base > Accounting > End of Period Procedures.
Where to Begin
Getting started can feel overwhelming, but don’t worry, we're here to help. The first step is making sure you're caught up on job costing. It's the #1 most important step.
Not sure where you stand? Give our support team a call. We can walk through a few things together, spot-check your data, and give you a bit of "homework" to get rolling.
Sales Screen:
Start in the Sales screen, sorted by All Dates. Spot check the following reports for all locations:
- InProcess All List - There should be a list of Sales that are still currently in process. Look through these sales and see if there is anything that needs to be job costed or cleaned up.
- Proposals/Templates - Add the payment column, and make sure there are no payments on Proposals. Once your customer makes a payment, the Sale should be turned into an Order. Be sure to spot check Templates for payments as well.
- Receivables - Make sure your Receivables list is accurate. This should be a list of your completed Sales where your customer still owes you money. It’s important not to un-job cost or change these sales, but look at them and decide if you are going to collect the balance.
Materials Screen:
- No Bill List - This should be a list of Materials for which you are waiting for a bill. Clean up Purchase Orders, On Order lists, and start planning when you can do a physical inventory count. This needs to be done before the end of the year.
Bills Screen:
- Current Bills List - This is a list of Bills that you currently still owe. Clean up any with zero balances. Make sure you haven't accidentally dated any past the end of the year.
What's Next?
This is just enough information to get you started. Be sure to follow the full directions in our End of Period Procedures so you don't miss anything.
There you’ll find more guidance on:
- Reconciling Contract Labor Payables
- Sales Tax Payables
- Closing the Journal
Need extra help? Don’t forget to check out our Webinar on End of Period Procedures from last year. It’s a great walkthrough to get you started.
