Tips: Year-End close

The Process Period End task performs the year-end close when the Current Period field in Set Up GL Options is set to the last period of the current fiscal year defined in Set Up Fiscal Calendar. Before closing, backup, post all transactions and adjustments, reconcile, and print final financial statements.

Closing Modules in the Appropriate Order: The recommended order of closing modules at year-end is as follows:

  1. Inventory Management
  2. Accounts Payable
  3. Accounts Receivable
  4. Cash Management
  5. Multicurrency
  6. General ledger

Changing General Ledger Fiscal or Calendar Year Structure: Current and future accounting period dates can be changed for fiscal years that contain accounting data. Use the Set Up Fiscal Calendar task to modify the end dates for the periods, and select to recalculate when saving the new fiscal year dates. To configure more than one fiscal year within a 12-month period, select the Allow Multiple Fiscal Years per Calendar check box in Set Up GL Options.

For more details, contact Blytheco - send us an email, or give us a call at 800.455.1368, extension 2500.

New! Credit Card Processing for MAS 500

Process payments quickly and easily with the new Sage MAS 500 Credit Card Processing module, available with MAS 500 Version 7.3. Credit Card Processing allows you to initiate and manage credit card transactions from within the Sales Order, Accounts Receivable, and Cash Management modules and includes strict compliance to PCI standards.

New features deliver advanced security and ease of use to support your payment processing needs. This module will shorten your customers’ order to cash cycle, decrease days sales outstanding, and improve customer service.

The Credit Card Processing module’s flexibility is accompanied by its powerful security options, which provide the peace of mind you need. Powerful encryption protects confidential credit card information, while address verification and card security code verification help protect you from fraudulent transactions.

The Credit Card Processing module supports a variety of credit card types and processors (including Sage Payment Solutions). Credit Card Processing features benefit many areas of your company:

  • Sales: Down-payments, multiple authorizations per order, and multiple credit cards per order.
  • Shipping: Capture funds during shipping, reauthorize partial shipments, and flexible error handling.
  • Accounts Receivable: Cash receipts, invoice payments, and refunds.
  • Customer Care: Store transaction history and card information for future visits.

For more information about MAS 500 Version 7.3 or the new Credit Card Processing module, contact Blytheco by email or give us a call at 800.455.1368, extension 2500.