End of Year Procedure:

The following items are to assist you with your End Of Year process as well as taking a physical inventory and backing up your system.

Click Here For a Printable Document

Tips
Reports:
Prior to running the end of year we suggest that you run the following reports. These reports are not available once the data has been moved forward.
Year-to-Date Stop Report
This will tell you which stops were your highest and lowest producers.
Top Selling Items
This will list the items you sold the most of. Choose the amount of items you
want to list. Ex: 50 or 100 top items.
Expense Report
If you use the system to track your expenses you should run a monthly report to
be certain you have included all of your expenses for the year and that they are
correct. Make any corrections needed and run a final copy.

Do A Physical Inventory
See document following the tips for information on doing a physical inventory.

Week Number
Be sure your week number is week 52 (or higher) prior to your last closeout. The system will not let you run the End Of Year if week 52 has not been closed.
If you need to adjust the week number do the following after a weekly close:
1. Choose Change Date from the Utilities/Setup Menu.
2. Change the next weeks number to 52 (53 if you have already processed your last
report).
3. Save the information.

BACK UP YOUR SYSTEM!!!
This IS the most important procedure that you can do. The backup should be done every day or at least weekly.
 

DID I TELL YOU TO BACKUP?

Please, Please backup your system on a regular basis. The most common call when a system goes down is someone scrambling to find their data.

Do A Physical Inventory
Before beginning your inventory, be sure that you have downloaded the most recent price update. Next print off your existing inventory by clicking on Inventory at the Main screen of the MM1 program and then clicking on List Inventory, be sure there is a check mark in both boxes to print Positive and Negative inventory, press F10 to print it.

You are now ready to start your inventory. At the Main screen of the MM1 program, click on Inventory then click on “Do a Physical Inventory”. Press F3 Add Item to begin entering items. You are now in Scanning mode, you can start scanning labels, if you have more than 1 of an item, keep scanning the item until you reach the number you have on the truck. If you are going to Manually type in the part numbers, click on the Manual Entry button and start typing in part numbers, change the quantity as needed.
As you are doing your inventory, it would be a good practice to save what you have done frequently, say after each shelf or panel, by pressing F10. This will save the physical inventory list, but not change or update the current inventory. This function will allow you to take a break during your physical inventory. When you return, choose “Do a Physical Inventory” again the list will load with the items that you have already entered.
When you have completed your inventory and you are sure it is correct, press F9 Update Inventory. This is now your new inventory value, if you find the need to add to this inventory it should be done at the Edit Inventory Screen. You will need to look at the inventory list that you printed out and put any Negative inventory that relates to items sold from sets, back into the inventory file.

COMMON MISTAKES WHILE USING THIS PROCEDURE
The most common mistake when using Do Physical Inventory:
1. DO NOT only enter part of your inventory and press <F9> to submit. This will replace all of your inventory. If you submit before you have completed you will have to re-enter all items from the beginning.
If you are going to continue to work on the inventory press <F10> to save your work. You can then reload your work and continue to update the inventory from that point.
2. DO NOT add a few missed items to the inventory after you have submitted <F9>. This will
replace the inventory with only the items that you just added.
If you missed a few items after you submit the inventory, edit your inventory at the Add/Edit
Inventory screen.

CLOSING THE YEAR (END OF YEAR)

END OF YEAR:
Choose End of Year from the Utilities heading.
When running end of year you must have closed week 52. You should back up all your data and place that backup in a safe place for archive purposes.
This program will move customer YTD purchases and payments to previous years purchases and payments. It will zero out all figures in YTD balances except for Inventory List and Net and set the week counter to week #1. This process will also run some file maintenance to prepare the system for the new year.