Prior to Year End

1.  Create the Account Period Records for the new year.  Normally 13 periods are created for each account with period 13 reserved for year-end accruals and adjustments.  The actual number of account period records used on your system is determined by a system parameter (SYSPERYR) and is user-defined.  The account period records for the next year are normally created in advance so that they are present and the accounts are ready to be posted to when the system period and year are changed to the new values.

2.  Post as many transactions that will affect sub-ledgers (AR, AP, Inventory, WIP, Pending, Unvouchered) as possible before year-end.  This will make the valuation reports as accurate as possible at the year-end date.


At Year End 12/31