The following document summarizes the steps required to close the books for the calendar year ending December 31, 2018. This procedure will cover all relevant modules in TOPS iQ.

To View/Download the PDF, scroll to the bottom of the page. 

Included in the PDF 

End of Year Shopping List

Not sure how many 1099's or W-3's you need? This chart can help make sure you buy the right amount of forms the first time. 

Filing Deadlines

No one likes a missed deadline, especially Uncle Sam.  Keep note of these important dates. 

Current Period Processing 

For all modules in TOPS Professional and TOPS iQ, you may continue to process for January (or whatever the first month of your fiscal year might be) even though you have not closed the year. TOPS can interpret transactions by date and will recognize the dates in the new year and automatically keep them separate from transactions for the year just ended.

Calendar VS Fiscal Closing 

Some modules must be closed at the end of the calendar year, regardless if your team is currently on a fiscal calendar. 

Backups

Before closing any of the modules for Year-End it is strongly recommended that you make a backup of the Community’s data files. 

Download the PDF for more information. 

TOPS Modules and preparing for Year End 

Calendar Year End: Accounts Payable

Fiscal Year End: General Ledger 

Fiscal Year-End Closing: A/R & Owner Collections