Month End Close 

The Inventory part Sales graph in each inventory record, as well as the Sales History graph in each Vendor record, relies on a Month End Close process. There are also some inventory sales reports that are populated by the Month End Close process. Fortunately, this is an automatic process that takes care of itself.

Year End Close is a useful function as it will reset all customers’ Year-To-Date totals. This function is under the Utilities Menu, listed as Fiscal Year End Close. The date value is entered once and automatically applied every year after that. By the way, this only resets the Year-To-Date fields; it has absolutely no effect on any date-ranged reports that contain data from prior years.

To Close an Accounting Month:

1. Select Month End Close from the Inventory menu.

The Close Month dialog box displays.

2. A drop-down menu allows you to close any month up to the present. Choose the month you wish to close from the drop-down menu.

3. Select OK to close the accounting month.