Year End Closing Process

1) Clear up any unfinished work in previous year. (Write-offs, Reconciliations, Reports, etc.)

2) In the Financials Section, run "Comparative Accounts", "Create / Update File". Create or update LAST YEARS comparative information.

3) Backup Champion data to a media you will SAVE (Floppy, ZIP, Tape). Optionally make a compressed file with LHA to Save: C:\CHAMPION\DATA>LHA A CHDATA97 - (would back up all data for 1997)

4) Check disk space. Rule of thumb is DOUBLE the CHAMPION\DATA directory size. One way to do this is to write down the "Bytes remaining on Disk" number that shows up when you enter the date while starting Champion. Then after you start Champion, press Alt + F1 and then choose "Files", then "Activity". Make sure the bytes free are larger than the size of ACTIVTY1.DBF.

5) Select "Miscellaneous", "System Administration" from the Champion menu. Run Full Recover for BOTH PERIODS. Check Yes to Rebuild Indexes.

6) While still in Champion Administration, Select Year End - Start New Fiscal Year. Allow it to purge old orders, etc. Annual Closing Account should be beginning retained earnings (for example-320).  If asked if you want to create a history file for previous years, say yes if you have plenty of disk space and will need to access the two year-old data.

7) Once you have completed these steps, you can change years simply by pressing Alt+F4.