year end close
TRANSCRIPT
Year End CloseWhat You Should Know
• Overview
• Posting Periods
• Period 13
• Period End Closing Utility
• Year End Considerations
Agenda
Beverage Business Builders
Overview
Use Period End Check ListOne available on the Help Site
Lock Your Periods!No surprises
Organize the FlowSaves time
Remember Your Test Database!Saves Heartache
Posting Periods
STEP 1
STEP 2- Drill into Period 12- Extend Due Date
STEP 3- Click on New Period2
3
1
Posting Periods
4 STEP 4- Period Code- Period Name- Sub-Period = Months!- No. Periods = 12- Add
STEP 5- Lock Period 12- Auto Change Status
5
Posting Periods
STEP 6- Authorize who canpost in Closing Period
6
Period 13
In SAP Business One, you can separate postings that are related to the year-end closing of the whole fiscal year with an adjusting post also
known as Period 13. These should not appear in the operations result of period 12.
Close Utility
STEP 1
1 STEP 2- Select Year- From Period 1- To Period 12
STEP 3- Set GLs
2
3
Close Utility
Close Utility
STEP 4- Ref 1- Due Date = 12/31- Doc Date = 01/01
STEP 5- Check Accounts to Close
STEP 6- Execute
6
5
4
Close Utility
End Result
http://support.orchestratedbeer.com
Thank You!
Year-End Considerations
2015 Year-End Close and 2016 Resolutions
Year-End is Month-End on Steroids
• Count everything• Archived Beer (shrink wrapping saves time)• Barrel-Aging Beer (watch for dumped beer)• Dump old beer and raw materials before counting
• Clean out Open Document lists• Purchase Orders• Goods Receipt POs• AR and AP invoices
• Pay out those old keg return credits
• Review checking account recons• Do a second recon eliminating all of the zero dollar entries
Year-End is Month-End on Steroids Cont.
• Eliminate System Account Balances• Look in each section for system accounts• Figure out what generated the balance• Fix the account determination• Journal Entry the balance to the correct account
• Update Accruals• Are you changing anything for next year?
• Trial Balance Review
• Update Forecasts
• Send the package to management
Questions/Issues with Year-End?
BBB 2016 Client Resolutions
• Take a fresh look at authorizations
• Analyze your Orchestrate support tickets
• Take the next step in the monthly close process.
• Understand where you are in the lifecycle stages
• Know what you want to do next year. WRITE IT DOWN
• Implement a deeper-level of divisional accounting
• Implement a deeper-level of forecasting
• Look for a data warehouse solution
• Understand the changes in the software (@OrchestrateRLS)
Mary’s 2016 Orchestrate Resolutions
• Figure out the new help center
• Create my own Orchestrate watch list• What are my top features that I would like to see? QC by brand anyone?
• Build out BBB Optimizing OBEER process checklists• Adding a progress check meter and room for comments
• Understand the Orchestrate partner environment
• Watch for developments in sister industries
