Hi-Tech Software, Inc., PO Box 2150, Skowhegan, ME 04976 Phone: 207-474-7122 Fax: 207-474-7124 www.hi-techsoftware.com YEAR-END PROCESSING INSTRUCTIONS Fiscal Year-End other than December 31 TIP: Do not wait until the last minute for filing and printing deadlines! Please use these instructions as a checklist when you do fiscal year-end processing. All Hi-Tech applications are covered. If your facility does not use all of the applications, please use the Table of Contents on the next page to locate instructions for the applications you use. If your fiscal year end is 12/31, please refer to separate instructions for Calendar Year-End December 31 NOTE: Only fiscal year end procedures are covered here. Additional instructions for calendar year- end procedures can be downloaded from our website. For Calendar Year End Instructions, go to www.hi-techsoftware.com and select Clients > Year-End Instructions > Calendar Year End on 12-31-13. If you call Hi-Tech for assistance during year-end processing, please have these instructions in front of you so we can refer to them. This document will refer to HTS applications by their application codes. AP Accounts Payable PR Payroll CGL Condensed GL RA Resident Accounting FA Fixed Assets TR Resident Trust Accounting GL General Ledger Please view our Webinar Schedule for Webinars on the Year-End Process. Go to www.hi-techsoftware.com > under Latest News > Webinar Schedule G:\HITECH\NOTES\End of Year\YEInstOther2013.docx Printed: 12/16/2013 2:25:00 PM Page 1
Table of Contents Calendar Year End Requirements 3 Before Beginning Fiscal Year-End Processing 3 Month End and Year End by Application 4 Resident Accounting 4 General Ledger 5 Condensed General Ledger 5 Accounts Payable 6 1099 Processing 6 Payroll 7 Resident Trust Accounting 7 Fixed Assets 7 Enter Adjusting Entries for Prior Year (G/L) 8 G:\HITECH\NOTES\End of Year\YEInstOther2013.docx Printed: 12/16/2013 2:25:00 PM Page 2
Calendar Year End Requirements You must complete certain procedures, such as printing 1099 (AP) and W-2 (PR) forms and changing the co-insurance rate (RA), at the end of the calendar year, regardless of your fiscal year end. In December 2013, instructions for these year end procedures were posted on our website, www.hi-techsoftware.com > select Clients > Year-End Instructions. Before Beginning Fiscal Year-End Processing Verify that your System Release Number is the most current release available. The Release number should be displayed at the top of the main menu. Or on any HTS menu, press the [F1] key to view the Release number. As of December 2013, the Current Release is 13.12. 13 = calendar year (2013). 12 = month (December). If your system is not current, install the current update from the HTS website or from the CD that you received from HTS. Download Patches from the HTS website to have the most recent EOY program changes. Check your G/L Company Header for accuracy. (GL > Libraries > GL Profile or from Condensed GL > Libraries > Edit CGL Profile). Earnings Account: Verify that the account number listed is your Retained Earnings account. Current Year: When you are ready to close your fiscal year 2014, the current year should be 2014. If your current year is not correct, call Hi-Tech for assistance. 2014 Check the Resident Accounting Company Header for accuracy. (RA > Libraries > Facility > Accounting Profile) If your Current Fiscal Year End is not correct, call Hi-Tech for assistance. G:\HITECH\NOTES\End of Year\YEInstOther2013.docx Printed: 12/16/2013 2:25:00 PM Page 3
Month End and Year End by Application Resident Accounting Fiscal Year End Complete normal End of Month Processing Steps. A. Resident Day Statistics and other statistics reports will print automatically with the normal End of Month reports. Make a copy of these reports for auditors. B. Reconcile the Accounts Receivable account to the General Ledger. C. Print the A/R Detail Aging Report. RA > Reporting > Receivables > Detail Aging Report D. Print a second copy of the Aging Reports for auditors. E. Print Medicare A and B Billing Logs. RA > Billing > Billing Logs > Print Logs (password = HTS). For both Medicare A and Medicare B, choose all 3 report types and enter Log Dates of your fiscal year. The reports include totals for each month and grand totals for the year. End of Year Processing The system automatically performs all End of Year processing when Period 12 is closed. During this close, the system will clear all other statistics (days, admission totals, discharge totals, etc.). NOTE: When you process December Resident Accounting End-of-Month, Medicare B Therapy statistics will automatically be moved to history. This includes moving the detail in the Medicare B Stay Tables to Prior Year. IMPORTANT: This application is not affected by closing EOY in the General Ledger. Users can proceed with normal processing. You can post activity whether or not the GL New Year has been set up. G:\HITECH\NOTES\End of Year\YEInstOther2013.docx Printed: 12/16/2013 2:25:00 PM Page 4
General Ledger If you use Condensed General Ledger, skip to those instructions below. As soon as possible after the last day of your fiscal year, select End of Year > Open New Year. Under End of Month, the Reoccurring Entries and Reclass Entries options allow you to post these items to This Year or Last Year; therefore, you need not process these entries before opening the New Year. You can continue to record activity for the last month of the fiscal year, i.e., Journal and Adjusting Entries, through Last Year > Processing. You can post activity in RA, PR, AP and FA to the last month of the fiscal year whether or not the GL New Year has been set up. Look for the option to Post to Prior or Last Year on the posting screens in PR, AP and FA. Pay close attention to the Post to year that is displayed. When you select Print/Post Journal Entries the adjusted ending balances are automatically transferred to the current year. Complete End of Year Processing step (GL > EOY > Open New Year). This step will: change the current year to the new fiscal year set up your chart of accounts in the new fiscal year allow you to post to the new year in General Ledger. If you need to make additional journal entries for fiscal year 2014, enter these from the Last Year menu. See Page 8. Condensed General Ledger IMPORTANT: If you do use Condensed General Ledger, you must complete the process below. If you use General Ledger, you can skip this step. Complete End of Year Processing step. (CGL > EOY > Open New Year). This is the only end of year step in Condensed G/L. This step will: change the current year in the Company Header to the new fiscal year set up your chart of accounts in the new fiscal year assign subsequent transactions to the new year. G:\HITECH\NOTES\End of Year\YEInstOther2013.docx Printed: 12/16/2013 2:25:00 PM Page 5
Accounts Payable Verify End-of-Year Accounts Payable Balances. A. Print Open Invoice Report. (AP > Reporting > Open Invoices) B. Verify that the total of Open Invoices equals the total of the AP account in the GL. This step should also be part of your regular monthly tasks. C. Print End of Month Aging (AP > Reporting > End of Month Aging) using an aging date of the last day of your fiscal year. The total on this report should equal the total on the Open Invoice Report and the balance of the A/P account in the General Ledger. You can now continue with Accounts Payable processing in the new fiscal year. Batch invoices for Period 12 and Period 1 (new fiscal year) and enter them separately. When you Update Transactions under Record Invoices / Credits and Pay Invoices: o If you have already set up the new fiscal year in General Ledger: o Post Period 12 transactions (fiscal year 2014) to Last Fiscal Year. o Post Period 01 transactions (fiscal year 2015) to Current Fiscal Year. o If you have not set up the new fiscal year in General Ledger: o Post Period 12 transactions (calendar year 2014) to Current Fiscal Year. o Post Period 01 transactions (calendar year 2015) to Next Fiscal Year. 1099 Processing Print 1099 forms for the calendar year. The system will use check dates to determine total payments for the calendar year. Find detailed instructions at www.hi-techsoftware.com Select Clients > Year End Instructions > Calendar Year End December 31, 2013. IMPORTANT: You can post activity whether or not the GL New Year has been set up. Look for the option to Post to Prior or Last Year on the posting screens. Pay close attention to the Post to year that is displayed. G:\HITECH\NOTES\End of Year\YEInstOther2013.docx Printed: 12/16/2013 2:25:00 PM Page 6
Payroll Follow end of year instructions for Payroll at the end of the calendar year. For detailed instructions, go to www.hi-techsoftware.com > select Clients > Year-End Instructions > Calendar Year End on December 31, 2013. IMPORTANT: You can post activity whether or not the GL New Year has been set up. Look for the option to Post to Prior or Last Year on the posting screens. Pay close attention to the Post to Year that is displayed. Resident Trust Accounting If your fiscal year end coincides with a calendar quarter end, (for example, September 30) follow your normal end of quarter procedures. There are no specific End of Year procedures for Resident Trust. IMPORTANT: This application is not affected by closing EOY in the General Ledger. Fixed Assets Complete normal End of Month Processing Steps. You can complete this step after the new fiscal year in GL has been completed. A. Print Depreciation Entry B. Update Depreciation C. Post Depreciation Entry D. Print Fixed Asset List (FA > Asset Lists > Detail or Summary) IMPORTANT: You can post whether or not the GL New Year has been set up. Look for the option to Post to Prior or Last Year on the posting screens. Pay close attention to the Post to year that is displayed. G:\HITECH\NOTES\End of Year\YEInstOther2013.docx Printed: 12/16/2013 2:25:00 PM Page 7
Enter Adjusting Entries for Prior Year (G/L) When your accountant provides fiscal year-end adjusting entries, proceed with the following: GL > Last Year > Processing A. Enter Prior Year Adjusting Entries. Enter all journal entries for the prior fiscal year. Use Period 13 to keep adjusting entries separate from normal Period 12 activity. B. Review Journal Entries (View All Journal Entries). C. Print/Post Journal Entries. Click All Sources and All Periods to post. After posting activity to the prior year, this step transfers adjusted balances to the new fiscal year accounts. GL > Last Year > Reporting D. Print Trial Balance. Verify that it is in balance. E. Print Financial Statements. Print any financial reports you normally print with month end and any others requested by your accountant. F. Print Activity by Period Report. Analyze or research general ledger activity by account number and/or period, as necessary. G:\HITECH\NOTES\End of Year\YEInstOther2013.docx Printed: 12/16/2013 2:25:00 PM Page 8