To determine your end of year consignment liability for accounting purposes:
Before running this process you can download a copy of your current balances due as a backup by going to Reports and downloading your Contract Balances report as a PDF, CSV, or XLS file. We backup your data every 24 hrs but this report could be more up to date than our backup depending on when the backup ran.
- Go to Administration.
- Click on End of Year at the top.
- Select your end of year date from the picker.
- If you'd like to clear inactive balances, choose the date for when to clear balances. This date will then be used to clean account balances with no activity up to and including that date. Accounts with activity following that date will not be affected.
- Check the box if you are going to clear inactive balances.
- Click Next to start.
- Confirm that you've selected the correct End of Year date and the correct date to clear balances, if you've chosen to do so.
- Do not navigate away during this process. If you do, you will need to re-run the process and allow it to complete.
- To see your End of Year Liability Balance after the process is complete, go to Reports and find the End of Year Liability in the Financial Reports section.