Review Year End Procedures, and Best Practices associated with your Clubessential Office Product.

Recipe for Year End Success:


  • Bushel of Proper Planning
  • 1 Clean Cutoff (at Fiscal Year End)
  • 1 Future Fiscal Year, Created and Opened (General Ledger, Budgets & Periods)
  • 1 Year End Wizard (may add more if required) (General Ledger, Year End Wizard)
  • 12 Current Periods, Closed (Restrict (Optional)) (General Ledger, Periods)
  • Multiple Reports for Auditors (Season/Adjust to Taste)
  • 3 Useful Data Genie Reports for Auditors  (Ledger Transaction, Sales with Line Item Detail, Vendor Purchases)
  • 2 Aging Reports (A/P, and A/R)
  • Financial Report Writer
  • 1 Round of Vendor and 1099 Reviews (A/P, Manage Vendors)
  • 1 (or more) Budgets for the new fiscal year (General Ledger, Budgets)
  • 1 Review of Deferred Billings (Membership, Billing Schedules)


Step 1: Prep for the new year by creating future periods. 

Step 2: Once created, open the new Periods for Activity.

Step 3: As you finalize the year end, consider restricting access to current period(s) to ensure that only you (and those with Administrative access) can access and post to the final period of the year.

Step 4: Once year end entries and all postings are complete, run the Year End Wizard to post earnings to retained earnings accounts.

(Note: You can run this as many times as needed!  Each time, only new net changes will post to your retained earnings account.)

Step 5: Close your year by closing the final period.  

*Need to post something to a closed period?  Make sure to Open the period, make the posting, re-run the Year End Wizard (if impacting Retained Earnings) and then close the period again.

Step 6: Provide reports to auditors.  Use Data Genie and other Interactive Reporting tools to quickly generate meaningful reports for your auditors!

*”These are a few of our favorite things”... (in the Interactive Reports Section)

Data Genie

  • Ledger Transactions View (Examine Ledger Activity for a Period of Time)
  • Sales with Line Item Detail (Review Member Spending Across the Year)
  • Vendor Purchases View (Analyze Vendor Spending)

Traditional Reports

  • Agings - (Run and Print as of your fiscal year end)
    • Vendor - Aged Open Invoice (A/P)
    • Membership - A/R Aging
  • Inventory Transaction Summary Export (Inventory Roll-forward)
  • Accounting - General Ledger Transaction
  • Vendor - Vendor Activity Report, Vendor Invoice Activity

Financial Report Writer - Use for additional reporting needs (Cash Flow, etc).  Need access, contact your Account Manager or Support.

Step 7: Prep your A/P System and Vendors for 1099 Generation.

  • Don’t forget about multi-edit features to help clean up your data.
  • Edit Invoices already paid to be included in 1099 generation.

Step 8: Finalize your Budget for the New Year!

*Utilize awesome reports such as the Accounting General Ledger Budget report to provide to your Managers and allow them to help estimate for 2018.  Timesaver - export this to Excel, update data, and then re-import the next year’s data!

Step 9: Set up new Billing Schedules where needed utilizing the new Deferred Dues Billing feature.

Step 10: Review/see all these things in action with our resident Office Expert, Cathy Sanderson.  

Happy Year End, Everyone!!!