As 2013 comes to a close, we are all considering our New Year’s Resolutions to make 2014 the best year ever. This is a great opportunity to consider last minute adjustments for fine-tuning your business. Remember to follow all the recommended year-end procedures so that all associated systems are ready for the challenges of the New Year.
- Reconcile all your books - Prepare your Balance Sheet, Profit and Loss Statement, Statement of Cash Flows and Statement of Retained Earnings.
- Complete the posting procedures and the closing procedures for all relevant modules.
- Post the final adjusting entries in General Ledger.
- Make a backup.
- Print any year-end financial statements that are required.
- Set up a new fiscal year.
- Close the fiscal year.
Another thing to verify as part of the year-end closing process is the company’s backup procedures. Many organizations have poor or non-existent backup procedures. If there is a hardware failure, the organization may not have a secure offsite copy of its business data to ensure things can pick back up quickly. WebSan provides top cloud security with our Hosted Dynamics GP solution, maintained in our state-of-the-art SAS 70 certified data centre located in Toronto
If you want to learn more about year-end procedures in Microsoft Dynamics GP, join our webinar on Thursday, December 19th, at 11:00 am EST and learn how to successfully close your books.
We help you make it a success every year!
Doriana Kote, Marketing Assistant, WebSan Solutions Inc., a Channel Elite Awards Winner for 2013
