Menu 8.3 - Month-End Close

The Month‑End Close routine is a file update program that prepares the workstation to receive the next month's information. It is extremely important that you use this routine only after all the Month‑End statements, reports, and so on, have been run, examined, and (if necessary) rerun.

If you cannot run the Month‑End reports (for example, if the end of the month falls during the work week), use the preliminary Month‑End to delineate between the old month and new month. For more information, see Menu 8.4 - Preliminary Mth-End.

You should run Month‑End Close as soon as possible after the end of the month.

If your agency uses branches, you must run Month‑End from the main logon. This prevents one branch from closing the month before another branch or main logon is ready to be closed.

If any conditions exist that prevent the Month‑End Close routine from running, either correct the conditions from another terminal, or exit the routine to fix any issues and then run the Month‑End Close routine again.

The Month‑End Close routine performs the following functions:

  • Clears month-to-date collector statistics that display on the Collector Performance report.
  • Updates the client history, salesman, and holdover (for those using the Holdover feature) files.
  • Performs maintenance on the Credit Reporting file. If your agency does not do credit reporting, contact your Finvi Support representative to turn off this feature.
  • Creates a save‑list from the new account file.
  • Zeros out month-to-date client statistics.
  • Clears the Trans file, the Progress file (cancellations), and the New Debtor file.
  • Copies the Trans file to back-up files called Backup-trans-mmmyyyy and Backup-holdover-mmmyyyy. The m's and y's designate the month and year. This feature must be turned on by your Finvi Support representative. Backup-trans-mmmyyyy is available for Easy Out reports.
  • Ages the AR‑Aged file. If there are negative current charges, they are treated as a payment and applied to the oldest age category.
  • Sets the last close date in the agency file.
  • Loads new balance forwards into the Trans file.
  • Clears Statement Record file.
  • Performs an automatic Year‑End Close. The system automatically runs a Year‑End routine when it closes the last month of your agency's fiscal year. The default is December 31st. If you are using Precollect, you must still run Precollect Year-End from the Precollect menu (14). If your agency's fiscal year ends on a different date, see Changing the automatic run date for Year-End.