Tuesday, December 7, 2010

SmartList and Year End. A love story.

My love for SmartList knows no boundaries lately, especially when you add the capabilities of SmartList Builder in to the mix.  But that is for another day.  Today, I wanted to talk about using basic SmartList during your year end.  I have been working on a presentation for our annual year end event for customers, and thought I would share a few of my top SmartLists for year end.

In no particular order (drumroll, please!):
  • 1099 Transaction Audit- Validate 1099 amounts based on transaction detail
    • Payables Transactions
    • Add Columns
      • Document Amount 
      • 1099 Amount
      • 1099 Type
    • Search
      • 1099 Type is not equal to Not a 1099 Vendor
      • Voided is equal to No
      • Posted is equal to Yes
      • Document Date (or Posting Date, depending on preference/need) is between Beginning of Calendar Year and End of Calendar Year
  • 1099 Vendor Audit- Confirm that you have Tax IDs for all 1099 vendors
    • Vendors
    • Add Columns
      • 1099 Type
      • Tax ID Number
      • Vendor Status
    • Search
      • 1099 Type is not equal to Not a 1099 Vendor
      • Vendor Status is not equal to Inactive
  • Open Accounts Receivable- Document open AR at year end
    • Receivables Transactions
    • Add Columns
      • Current Trx Amount
    • Search
      • Current Trx Amount is greater than 0.00
      • Void Status is equal to Normal
      • Posted is equal to Yes
    • Can use a similar setup for Payables Transactions 
  • Discontinued Items- Review discontinued items to see if you would like to remove the records during year end
    • Item Quantities
    • Add Columns
      • Item Type
    • Search
      • Item Type is equal to Discontinued
      • Record Type is equal to Overall
  • Standard Cost Review- Review item standard cost for periodic valuation methods to determine if you would like to update standard cost as part of year end
    • Items
    • Add Columns
      • Valuation Method
      • Current Cost
      • Standard Cost
    • Search
      • Valuation Method is between FIFO Periodic and LIFO Periodic
  • Employee Status- Review employees to see if any records need to be inactivated
    • Employees
    • Add Columns
      • Inactive
      • Last Day Worked
    • Search (optional)
      • Inactive equals No
      • Last Day Worked is greater than 1/1/1900
  • Account Type Review- Review the account type (e.g., Balance Sheet or Profit and Loss) to ensure that account balances close properly during the financial year end close process
    • Accounts
    • Use defaults, but make sure that maximum records allows all records to be returned (check under Search for maximum records setting)
Please share any SmartLists you rely on for year end as well, and I will update the post! Happy holidays!

2 comments:

Steven said...

I am using GP10 and on the Smartlist Options screen, I only see Maximum Records where you can enter a value but not an option for me to get all the records. Am I missing something here?

Steven Ngai

Christina Phillips said...

Hi Steven--

As you saw, there is not an option for all records automatically. You just need to set your maximum records high enough (1,000,000 or 5,000,000, etc) to ensure you get all records.

Thanks!
Christina