COMPULINK 3300 Overland Avenue, Suite 201 § Los Angeles, California 90034 § 310 × 204 × 5121 

 

Closing the Year with Jewelry Shopkeeper

 

  • For the most part, closing the year is no different than closing each month. The the Jewelry Shopkeeper will roll the period over from 12 to 1 and you’re ready to continue with the new year. However, since it is the year-end it is a good idea to be especially thorough with the month-end procedures.

     

  • Step 1: MAKE A BACKUP. Keep this backup and take this backup set out of circulation. Put it in your vault and never re-use this set of tapes or diskettes.

    If you use a tape backup program we suggest that you make another year-end backup onto diskettes using the backup feature built-in to the Jewelry Shopkeeper. This is option 3 from the Command Menu. It’s difficult to predict the number of diskettes this will need so have several available.

    Step 2: RUN END OF YEAR REPORTS. Since some reports cannot be recreated once a month has been closed and you've continued on to the next month’s business, it is a good idea to print them out and put them in a binder. While this is true of month ends as well as year ends, you are likely to want to print more detailed reports at the year end than you would normally do.

    A: Complete Inventory Report [choice 6-5-Compressed Print] This is the detailed version so it may be very long.

    B: Accounts Payable Report [choice 5-2-4-Unpaid-Excluding Memo Invoices]

    C: Accounts Receivable Aging Report [choice 4-4]

    D: Open Layaway Report [choice 1-7 for summary report or choice 6-2-7 for detail report]

    F: Open Credit Slip Report [choice 1-A]

    Step 3: CLOSE THE MONTH. Make sure you type the date 12/31/96 as the Ending Date. Jewelry Shopkeeper will automatically reset year-to-date (YTD) totals. The customers YTD sales, class code YTD sales, in-house-charge customer YTD finance charges and YTD payments and the Z report to-date sales figures are reset to zero. Double check the totals are reset properly.

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    Entering Year-End Accounting Adjustments AFTER closing the Year

    If you need to write checks, enter check book adjustments, or other types of the accounting adjustments;

  • 1) Enter the adjustment Write the check, enter the miscellaneous transaction, deposit or general journal entry [choice 5-5-1 or 5-5-3 or 5-5-5 or 5-5-7]. Make sure the date you type is from the prior period (see the ending date).

    2) Change the Chart of Accounts from a Previous Month If adjustments are made to previous periods, you will have to manually adjust the chart of accounts. Choose Enter/Edit Chart of Accounts [choice 8-5-1] and type in the account number. When the question: Do you want to enter totals for previous months? appears, answer Yes.

    Note that you will have to calculate the figures. For example, If you are entering a bank charge of $25.00 for the previous month, you would need to adjust the MONTHAGO 1 figure by $25.00. If there were already a figure of $51.00 in there, you would have to adjust this to $76.00