Year-end Processing Tips Volume 6 – Closing the A/R Module

The Accounts Receivable module was added to the Business Framework in Sage ERP MAS 90 and 200 version 4.1, so all data entry in that version and above is date sensitive. If on version 4.0 or earlier, you should perform year-end closing prior to posting any invoices or cash receipts in the new year; failure to close the A/R module before the end of that one future period will cause the summarized totals for the current or future period to not match the transaction detail reports. 

Before closing the Accounts Receivable module for the year, be certain that:

  • All invoices and cash receipts for the current year have been entered and updated.
  • Finance charges have been run and updated (if applicable).
  • Customer statements have been printed (if applicable).
  • The current A/R date agrees with the year-end date.
  • You have a backup of the Accounts Receivable module.
  • Any AP from AR Clearing has been processed.

Print and review the following reports prior to closing the year:

  • Accounts Receivable Aged Invoice Report
  • Accounts Receivable Trial Balance – this report should reconcile to the balance of the General Ledger A/R accounts
  • Customer Sales Analysis (optional)
  • Cash Receipt Report
  • Sales Analysis by Salesperson (if applicable)
  • Salesperson Commission Report (if applicable)
  • Monthly Sales Analysis (optional)
  • Sales Tax Report (if applicable – this report should be printed and cleared each month)
  • Monthly Cash Receipts

During the Accounts Receivable Full Period and Year End Processing, the following tasks are performed:

  • Purges the A/R Monthly Cash Receipts file (unless retained in A/R Options)
  • All PTD and YTD fields in the Customer Masterfile are reset.
  • Purges PTD and YTD COG in AR Analysis by Salesperson; moves current year information to the prior year.
  • PTD and YTD sales, gross profit, and commission amounts are reset in the A/R Salesperson masterfile; YTD information is moved to the prior-year field.
  • Purges all temporary customers with zero balances.
  • Purges various customer history files according to the parameters in A/R Options. We recommend you check these parameters prior to performing Year-End Processing.
  • Advances the current fiscal year to the next sequential year and the current period changes to “1”.
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