What must be printed and cleared before you can use the Year End function?

Question

BlackTom AI · Accepted Answer

The question asks what must be printed and cleared before you can use the Year End function.
Option 1: Adjustments. While year-end adjustments are common, the requirement to print and clear specifically before Year End is not typically described as ‘Adjustments’ being the prerequisite. Adjustments may be prepared and posted, but they are not the item that is universally mandated to be printed and cleared prior to Year End.
Option 2: Posting Journals. This is the correct choice. Posting journals involve recording and clearing journal entries that close out the year, settle open balances, and ensure the fiscal period is ready for Year End processing. Printing and clearing these journals ensures the data is finalized and balanced before running Year End actions.
Option 3: Batch Listings. Batch listings are generally reports or exports of batch data. They are useful for review but are not the item that must be printed and cleared as a prerequisite for Year End processing.
Option 4: Statistics. Statistics typically refer to summary metrics or counts. They are not something that is printed and cleared in preparation for Year End and do not serve as the required prerequisite.
Overall, the reasoning hinges on understanding that the Year End function requires that the core financial movements be finalized via postings, i.e., the Posting Journals, before Year End processing can proceed; the other options describe supportive data or reports rather than the essential prerequisite action.

SG30018E2 - Sage 300 2018 Accounts Payable Module 4 Quiz

What must be printed and cleared before you can use the Year End function?

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