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How Do I... |
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Job Cost History Purge Utility/Job Cost History Restore Utility |
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Select Job Cost Period End menu > Period End Processing.
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Use Period End Processing to automatically perform either period-end or year-end processing based on the period entered at the Current Job Cost Period field in the Job Cost Options window.
Use Period End Processing to close the current period and increment the accounting period to the next period. Period-end processing is usually performed at the end of each accounting period, on the last business day of each month. Year-end processing takes place automatically when period-end processing is performed for the last period of the fiscal year.
Note Fields in the Job Cost Options window are used to determine the current accounting period and if retaining job cost history after year-end processing.
Warning Period End Processing cannot be performed if job billing is in progress (if the Job Billing Register has not been printed and updated), if the Daily Overhead Allocation Register or Monthly Overhead Allocation Register has been printed but not yet updated, or if the Daily Transaction Register has not been updated for all outstanding job transactions.
The following occurs during period-end and year-end processing:
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Job information is removed if the Retain Job Cost History check box is cleared in Job Cost Options.
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Closed jobs are archived to history files instead of purged during period-end processing if the Retain Job Cost History check box is selected in the Job Cost Options window.
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If the Retain Transaction Detail check box is cleared in the Job Maintenance window, transaction jobs are summarized. If selected, transaction jobs are retained until the job is closed.
The following occurs during period-end processing:
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The job-to-date actual cost, invoice billed, and payment received totals are cleared and set to zero.
The following occurs during year-end processing:
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The year-to-date actual cost, invoice billed, and payment received totals are cleared and set to zero, along with the year-to-date dollar and unit totals.
Before performing period-end processing, the Job Close-Out Register must be printed and updated to the files. This report provides a final audit trail of all unit and cost information. If you are using Work-in-Process accounting, the job close-out update also clears outstanding work-in-process amounts and makes the necessary postings to the General Ledger module. The Work in Process Report and Job Transaction Detail Report should always b e printed before performing either period-end or year-end processing.
Warning Backing up your data is an important part of your daily, period-end, and year-end procedures. Back up all Job Cost data before performing period-end processing.
