1. Month End/Year End Procedures VENTUS Presenter: Linda Kennedy

2. How to Close the End of the Month Closing the End of the Month rolls the date in the company file and flags completed transactions as closed so that they do not show in the current transactions screens in the new month. Each application will need to be closed individually before the General Ledger is closed. The three that do not need to be closed are Service Management, Estimating, and Time & Material.

3. By going to Maintain > General Ledger > Accounting Periods Maintenance, you can quickly see if an application is closed, when it was closed and by whom. Note: If an application is not being used, it will remain blank – no need to close it.

4. Close Applications Each application is accessed the same way – through TASKS > (APPLICATION NAME) > END OF MONTH With the exception of Payroll, each application has the same End of Month Closing screen and process.

5. Double check that the Current Year and Current Period are correct and then the New Period dates and then select Continue – and that’s it! A message will pop up that the End of Month closing is complete.

6. AP to GL Variance Report This is a report to be used at month end to help balance Accounts Payable and General Ledger if they do not balance. Go to Reports > Accounts Payable > AP to GL Variance Report

7. Enter a Transaction Date range – the example uses 9/1/2013 to 9/30/2013 and the box for ExceptionsOnly is checked. Example 1: When there is no discrepancy

8. The report shows no discrepancy between AP and GL. The last page of the report shows that a General Ledger journal entry was made to the Accounts Payable account number.

9. Enter a Transaction Date range – the example uses 7/2/2013 to 10/31/2013 and the box for ExceptionsOnly is checked. Example 2: When there is a discrepancy

10. The report shows the transactions where there is a discrepancy between AP and GL. The totals for both AP and GL are shown at the end of the report.

11. Close Payroll The Payroll End of Month screen has additional instructions letting you know that the End of Month process will clear the Employee Month-to-Date accumulators and lists the specific reports which need to be printed as well as making a current backup. It is very important that you print out all of the reports listed under the End of Month Closing. ** There is now a New Feature in Payroll which allow you to go back and print them if you forget!!

12. Running the End of Month routine clears the month-to-date accumulators in each employee file on the Federal and State W2 Tabs. BEFORE Closing End of Month AFTER Closing End of Month

13. How to Print Payroll Reports Choosing ALL is the best option: it will give you results for Month, Quarter and Year. Select every deduction code used when running the report. The report will not run properly if you use ALL instead.

14. PeriodEndDate should be Equal to 12/31/12 (not a range) TotalLevel should be Quarter (not year) ByDivision should always be set to Equal to. Check the box if you DO want to print by Division. Leave unchecked if you don’t.

15. This is NOT the check date but the first day of the batch for the first payroll paid in Jan. First day of Quarter 4 & Last day of Quarter 4 Run for each State you need – one at a time. This is NOT the check date but the first day of the batch for the first payroll paid in Jan. First day of Quarter 4 & Last day of Quarter 4 Run for each State you need – one at a time. These are the boxes that are most commonly selected to print.

16. New Feature in Payroll A new feature has been added so that the Employee Totals can be calculated from the PR.TrxHistory Check table. This should be used if the Month end or Quarter end routines have been run and you realize you forgot to print the Payroll reports.

17. Shows the Payroll Company is set for September 2013 as the current month.

18. Shows the employee file before accidentally closing the Quarter without printing the Quarter end payroll reports.

19. Shows closing the Quarter. The period advances to October 2013

20. Shows the End of Quarter clearing completed. You suddenly realize that you had not printed the payroll reports for the Quarter or the Month!!

21. Choose General Ledger accounting periods and take the check mark off for Payroll as being closed for September 2013. Click Save.

22. Go to the company maintenance and choose Payroll Options. Change the Current Month back to September.

23. Choose Tasks > Payroll > Recalculate employee totals from History. This will look to the Payroll Company file for year and Month. When it rebuilds the totals: Month will represent September 2013 Quarter will represent July, August and September Year will represent from January 2013 thru September 2013

24. You have the option to Continue or Cancel. If you do not have a a current backup, cancel at this point. Once you have chosen to continue, you will not get any more prompts.

25. After the process is completed you will receive this message.

26. Shows the rebuilt file. It rebuilds the Federal, State and Local information.

27. Return to the Payroll Company file and change the month back to October.

28. Return to the GL Accounting Periods for September of 2013 and put the check mark back.

29. Close General Ledger After all other applications have been closed; it is time to close the General Ledger. Tasks > General Ledger > End of Month This advances the date in the company file and marks accounting periods as being closed. If any General Journal entries are entered and marked “Reverse”, it reverses those transactions. It will also mark transactions as being closed for that month. This means that they will not appear so they can be edited.

30. Please note that if one is accidentally skipped you will receive this screen and message:

31. Go back and close the applications it indicates are still open and then return to Tasks > General Ledger > End of Month Once the screen shows that all applications have been closed, then click OK and the process is complete.

32. General Ledger Report Options The General Ledger Report can now be further filtered using a General Ledger Account Type or Journal Code. This will aid in verifying the Financial Statement to the Sales Analysis report.

33. Go to Reports > General Ledger > General Ledger Report AcctType: Enter the Account Type code as a Range to include more than 1 code or as Equal to for just one code. The default is All which includes all calls. The account type is used to identify the different types of accounts that are stored in the General Ledger Chart of Accounts. Our standard financial statements will pull from the following account types. If you choose to use an account type other than what is listed below, you will have to change the standard financial statement formats.

34. Journal Code: To choose specific Journal codes change to either Range or Equal to and select the code from the drop down menu. Journal Code Maintenance is used to identify each source journal used with the General Ledger and identify which application the source journal originated from. The following source journal codes are considered "default" codes for Ventus, and you should not have to create them.

35. Close the Year in Payroll From Tasks > Payroll > choose End of Year. You will receive the following warning. If you have not printed your reports or made your backup, do not continue. Click Cancel to exit and print the reports. **It is important to print these reports as once the year is closed, you will not be able to go back and print them. ** Selecting the “Clear VACATION and SICK Pay accruals” box will zero out these fields in the Employee file. Selecting the “Remove TERMINATED Employees” box will delete payroll history for terminated employees and delete them from the employee file. When you click “OK” a holding file containing the W2 data will be created. This holding file will remain in the system indefinitely. W2 information will be available forever.

36. AFTER THE YEAR IS CLOSED: Enter the new Federal and State Tax Tables BEFORE processing the first payroll of the new year. The tax tables can be accessed from Maintain > Payroll > Tax table Maintenance > Federal. When processing the first payroll of the new year, verify that the checks are dated for the new year. Employee Federal or State W-2 information can be edited from the W-2 FORMS option.

37. In the Options > System > Company Maintenance > PR Options tab > page 3, select 01/01/xx for the date of the first paycheck. ** Make sure that you go to page 3 to put the first day of the new year.** This is ONLY for Mobile Data! Skip to Page 3 to put first day of year!!! Put first day of New Year here!!

38. How to Close the Year in GL The End of Year Closing program is used at the end of the year and after all Adjusting Journal Entries are made. It will – close the year for the General Ledger, – post opening balances for the new year, – close PNL Accounts into Retained Earnings and – move the current period to the first period of the new year.

39. Step 1: Verify the Retained Earnings Account Go to Options > System > Company Maintenance > GL Options Check that the Retained Earnings account number is correct.

40. Step 2: Verify that the End of Month Closing routine in all other applications has been done before closing the year in General Ledger. All applications except Service Management, Estimating and Time & Material applications have End of Month closing routines. Go to Maintain > General Ledger > Accounting Periods to verify. Find Period 12 for the year to be closed using either the arrow by the Year field or using the FIND button on the bottom taskbar. If there are any boxes in the Closed column that do not have check marks, this indicates that the application(s) is still open. Run the End of Month routine for the one(s) that may be open.

41. Step 3: Close the year Go to Task > General Ledger > Accounting Periods and Click OK. ** Be sure to check the boxes for Print closing report and Print opening report. This is the only time you can get these reports.

42. If for some reason something was missed in Step 2, one of the following messages will be received. If the current period for each individual application is not set for the last period of the year being closed, the message CURRENT PERIOD must be 12 to close year will appear. If all other applications are closed and the message CURRENT PERIOD is open – please and then try again, it means that the GL period 12 is still open.

43. When to use Update Account Balances Update Account Balances will recalculate general ledger accounts balances if a journal entry has been posted in a prior year. To update account balances, from the Task Menu, choose General Ledger and then choose Update Account Balances from the sub-menu. Select the year, and click Okay. If prior year transactions have been entered, select prior year, and then run update account balances again for the current year. A message will appear when the process is complete. This process may take a few minutes.