Peachtree Accounting Year End Close

One of the greatest problems, with the fiscal close procedure is after the close is completed there may be transactions missing.  The sad part is that while Peachtree is closing it does not give you any error messages or warnings. It just continues on, working away.

It is very important to review your data after closing the fiscal year. 

This should involve:

1) Generating financial statements and comparing them to old existing ones.
2) Review transactions reports and totals from prior months, again comparing the to old existing reports.
3) Running Data Verification and checking the error log file.

Newer versions of Peachtree force you to backup prior to closing your fiscal year.  Make sure you keep this backup in a safe place and change the filename to something that you will be able to recognize at a later date.   The file is very useful of you discover errors, missing data or wish to review old transactions from prior years. 

If you are experiencing problems with you data after your fiscal close, or you are unable to close your fiscal year you will need to have your data repaired.  Do not attempt to repair the data yourself; this will only cause greater transaction loss and problems in the future.  Also if you realize that transactions are missing but have enter transactions into the new year, DataSoft my merge these two datasets together.

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