Year End Close

Year End Close is a wizard process in AgWare MGR found in the Yearly Tasks section of the program.  Step two of the Year End Close wizard is the Closing Entry Report.  AgWare has also provided this report as a standalone report.  This will allow you to print and review the closing accounts and amounts before starting the wizard; this also gives the user an easy place to create a custom Closing Entry Report if desired.  This report has to be printed from Step 2 of the wizard or from the standalone Closing Entry Report section before year end close is complete. 

Step 1: Select Farms to Close


The first item in the Year End Close process is the closing date.  This date will be used on all of the closing transactions.  Once you enter the closing date, the farm selector list will populate based on the farm’s fiscal year.  Next, you’ll choose a closing GL account.  This account will be applied to all closing transactions, and all income statement type accounts on each selected farm will be closed to the selected closing GL account (generally Proprietor Capital).  Next, choose the closing vendor.  This vendor will be applied to all closing transactions.  You can use the green plus button to the right of the vendor drop down to create a new vendor to be used, if needed.  You can also edit an existing vendor by using the pencil button to the right of the vendor drop down.

The next items are the add inventory items and add production items check boxes.  When checked, new inventory or production records will be created for the next fiscal year based on the currently configured inventory or production items.   These two items are optional.  Next, you’ll check the farms that you would like to close.

After all items on Step 1 have been completed, click Continue to move to Step 2.

A couple of notes on Step 1 of the Year End Close wizard:

  • If there are any unposted batches in the current fiscal year for a selected farm, you will need to post those batches before you are able to continue to step two.
  • If there is a posted transaction date greater than the year end close, the program will error.

Step 2:  Closing Entry Report


The closing entry report is meant as a pre-closing review step.  It shows you what accounts are going to be closed, the amount for that account, and the total amount for the farm that will be closed.  If anything looks incorrect, click the cancel button to exit the wizard.  Once you click continue on Step 2, the year end close process will be complete.

Step 3: Review Year End Close


The third and final step of the Year End Close wizard shows you a list of all farms that were closed, and the date they were closed.  If there are any farms that have yet to be closed for the date entered on Step 1, you will see a list of those farms in a grid to the right of the closed farms grid.

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