Year End Procedures Page

Use this option to set up Warehouse Inventory for a new fiscal year. The Year End Procedures option has these effects on your data:

• Purges filled requests. Keeps requests with unfilled items and back orders.

• Allows you to purge all other transactions, except requests that are stored in batch files. These batch requests are retained and can be posted to the live database for use in the new year.

• Creates a record for the past year in the Inventory Usage table showing the month-by-month quantities issued for each catalog item.

• Creates transaction records for carrying available stock into the new year.

• Sets yeartodate totals to zero for stock items purchased, received, issued, filled, returned, and adjusted.

• Changes the Fiscal Year and Period in the Warehouse Inventory Profile.

Menu Path:  Warehouse Inventory > Entry & Processing > Periodic Routines > Year End Procedures

Prerequisites

Before using the Year End Procedures option, you must perform the following:

• Run a database backup. This allows you to restore your records if you lose any critical data as a result of year-end processing.

• Run the Fill Requests option to fill as many line items as appropriate. To identify unfilled requests, run the Unfilled Requests and Back Ordered Items reports. For details, refer to Departmental Charge Summary, which covers the Unfilled Requests report, and Back Ordered Items.

• Enter any remaining service orders for the current year since year-end processing affects the Inventory Catalog in both Warehouse Inventory and Equipment Manager.

• Run the Process General Ledger Charges option to interface any remaining charges to Fund Accounting. To review these charges beforehand, run the following report: Departmental Charge Summary. Retain a copy of this report for your records.

• Run the Process GL Charges option in Equipment Manager as well.

• Run any additional reports you may need on the past year's transactions and year-to-date usage. Following are report options you should consider generating before running the Year End Procedures:

  Inventory Transactions	Select the Detail option to view the past year's transactions, which will be deleted. Unfilled requests are retained. New transactions are created for carrying over available inventory, as identified by a Transaction Type of H - Beginning Balance. Select the Summary Option to view year-to-date totals, which will be set to zero for the units purchased, filled, returned, and adjusted.
  Inventory Status Report	Year-to-date totals are set to zero for units received. All other figures on current inventory levels are retained.
  Warehouse Transactions Report	For related details, refer to the description above for the Inventory Transactions report's Detail option.
  Inventory Obsolescence Report	Year-to-date totals are set to zero for units received and issued.
  Usage Reports	Select the Previous option. Transaction data for filled line items and back orders in the past year is saved to the Inventory Usage table. This information is now included when you generate the Prior Years Usage report.

Preparing your Warehouse Inventory database for the new fiscal year

1. Complete all prerequisites as described in the previous section.

2. Select Warehouse Inventory > Entry & Processing > Periodic Routines > Year End Procedures to display the Year End Procedures page.

3. In the confirmation dialog, select Yes to continue.

4. Another confirmation dialog displays asking if you have backed up Warehouse Inventory's database. Click Yes if you have. If not, click No, back up the database, and re-start the process.

5. In the Year End Procedures page's. Current Year section, select the Save Transactions checkbox if you want to retain all transactions, or leave the box blank to purge transactions prior to closing the year.

6. In the New Year section, use the Fiscal Year Start and Fiscal Year End fields to define the fiscal year's start and end dates. Your entries will default to the Warehouse Inventory Profile.

7. Click OK.

8. In the confirmation dialog, click Yes to clear the year's totals and begin year-end processing. A window displays indicating the system's progress.

9. Click OK when processing is complete.

10. After running the Year End Procedures option, use the Batch Requests option to post requests for the new year to your Warehouse Inventory database. This only applies if you have new year requests stored in batch files.