Period End Reports

Select the check box next to each period-end report that you want to print. The reports are printed using the broadest range available (all warehouses, all product lines, all price codes, etc.) and are printed in sequence, without user intervention.
NOTE If no reports are selected, you must click Print to continue with period-end processing.
After all reports print, complete period-end processing. The following occurs:

· The period-to-date sales and issue information are cleared for each item. In addition, the beginning balance quantity and beginning average cost are calculated.

· All zero quantity cost tiers for LIFO/FIFO, lot, or serial items are purged.

· If the Retain Transaction History check box is cleared in the Inventory Management Options window, all current period activity is purged from the Inventory Transaction Detail file.

· If the General Ledger module is not integrated with Inventory Management, all general ledger posting detail in the General Ledger Posting Recap file is cleared.

Year-end processing takes place automatically when period-end processing is performed for the last period of the accounting year, as established in General Ledger Options. If your company's business year coincides with the calendar year, this occurs with the closing of December.
During year-end processing, the prior-year sales information is cleared, and the current year-to-date data is set to the prior year. Detailed sales history records for discontinued items are also removed.