As we enter the busy season and receive an increased number of calls from Collectors working through their Year End Close, we want to provide some additional resources to help guide you through the process.
After you’ve finished entering all payments for the 2025 fiscal year, you’ll need to print your reports and balance the month of December. Once December is balanced, you can proceed with running your year-end reports and completing your annual reconciliation. Please remember that no transactions or payments for 2026 can be posted until your 2025 fiscal year has been closed in Collect.
As a reminder, Collect now automatically handles any transactions (payments, abatements, refunds) entered after year end but before the fiscal year is closed. When you access the Monthly Balance or Lien Redemption report during this period, a message will display notifying you that the effective dates for these transactions will be adjusted so they are correctly included on the report. This built-in process replaces the old requirement of calling Avitar for a script.
Because year end requires generating and printing numerous reports, we’ve prepared several Year End Tips and Tutorial resources with detailed guidance on:
- Year End Zoom Webinar
- FAQs for Year End Process
- Monthly Balancing
- List of reports that are necessary for most audits.
- Reviewing, understanding, balancing, and submitting your MS-61.
- Creating a backup of your data.
- Performing the actual Close Period.
If you encounter any issues, or have any questions, please feel free to call us.
Avitar Associates 