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SB Express Help Center / Year End Processing / Year End Processing

Year End Checklist

Updated on Nov 14, 2024

Financial

1. Change tax year in System Information

2. Make any BARS code changes for the upcoming year

3. Confirm Reserved/Unreserved funds from the prior year

Reserved Beginning Balance Accounts are 308 10

Unreserved Beginning Balance Accounts are 308 80

4. Make the Proposed Budget the Actual Budget for new year

5. Review and update any changes to the Accounts Receivable codes in Cash Receipting

Payroll

Printing the Payroll Set Up Reports will help with reviewing your payroll.

6. Print Positions report with all boxes checked. (This creates a salary schedule for the ending year)

7. Run Payroll Deductions report after final payroll of the ending year

See How do I generate an Accrual Balance Report?

Save as an Excel export for Annual Reports

7.1. Review Pre-tax and Post-tax options on dedcutions

Pre-tax is usually associated with medical deductions. Review all of your plans and make sure that the settings in BIAS match the plans.

8. Review Calendar Year Accruals

9. Update Payroll Tables after final payroll of the ending year

10. Update Salary Schedules

11. Review Distributions

Utilities

12. Review and Update Rates & Base Fees

13. Check BARS Codes

14. Run Monthly Utility Totals Report

Print Totals Only with the Bill Type Blank. Print one dated 12/31 for outstandings and one for the full year for USDA reports

Bank Reconciliations

15. Finish December Bank Reconciliations

16. Run Treasurers Report and Print for Annual Reports

Beginning Balances

17. Make Beginning Balance GL entry for January 1 of the new year

18. Run Treasurers Report for January 1 to January 1 of new year to check balances

You are done. Great job!

Previous Article How do I process 13th month entries?

Next Article How do I create beginning fund balances?

Year End Processing

Year End Processing 10

How do I amend the current budget?
How do I process 13th month entries?
Year End Checklist
How do I create beginning fund balances?
How do I create W9 Notices?
Year End Checklist (2023)
How do I create 1099s? (2024)
How do I create W2s (2024)
Applying the VRIPA Act $600 Exemption with SBX Payroll (Updated 12/1/2023)
Working with the Payroll Clearing Account

2020 Year End Webinars 4

Year-End Checklist & Beginning Balances
Prepare for 1099 Processing
Create & Submit W-2s & W-3s
Budget & 13th Month Transactions

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