Orders with a Balance Due & NO Payments

Orders that have been placed and have NO payments recorded against them, will be rolled into the new fiscal year. No action is needed if you want to roll these orders into the new year. The accounting ledgers are only adjusted when money is received.

Orders with Balance Due & Partial Payments

If there are orders in your system that have a partial payment, you will need to clean these up before you can close out your year.  Payment applications cannot span fiscal years, so you must either write off the balance due, or otherwise alter the order to allow it to move to the new year.  

When reviewing the list of Orders with Balance Due, it is important if this is your first year closing out your accounting year, that you adjust the dates of the report to include orders from previous years.  Change the date range for the From to go back several years.

To edit an order to write off the balance due, click on the order number.

If you are going to write off a balance due, be sure to record the date for the financial year that you want to record the write-off.