Accounts Receivable period-end tasks allows you to print reports that analyze and disclose the results of operations in the period that just ended, and then wipe the slate clean and begin to gather information for the new period. You might find that you want to run reports and then purge unnecessary information quarterly or even each period of your fiscal calendar.

If your fiscal calendar and the calendar year are the same, you will most likely perform all your year-end processes at the same time. However, you’ll need to take care of some tasks related to taxes on January 1st to ensure the numbers are accurate. For additional information on fiscal and calendar years, refer to Working with Dates.