End of Year Procedure - Cashbook

This procedure opens up a new year for the company. As discussed earlier you may have to do this shortly before the actual year-end for ‘forward postings’ in the sales and purchase ledger. You do have to run this option prior to the year-end processes in the sales and purchase ledgers and stock control.

I Haven’t Finished My Postings Yet

The diagram below shows the effect of the year-end procedure on the accounting calendar.

The actions the ‘End of Year Procedure’ undertakes are:

To move all actual figures for the current year back by one year

To move the old year’s actual figures back one year further still in the file

To clear all the current year’s actual figures

To post the closing balances of all bank accounts (flagged cash=Y) in the old year (which was the current year) as the opening balances for the new current year

To accumulate the net value of the closing balances of all other accounts in the old year. This it posts into the year-end control account (defined in the cash book system profiles)

To move the accounting calendar forward one year

To ‘set’ the sales, purchase and stock ledger periods into their same period, now in the previous year

On selection of this option the system displays the current accounting year date ranges for the current and previous years plus the date range of the new year to be created.

You are first prompted to ensure you have a backup.You should always take a security backup prior to running this procedure.

After confirming you have indeed taken a backup you are prompted to begin the year-end process.After you give the go ahead the system proceeds with the cash book year end. When complete a message is displayed and <Enter> returns you to the menu.

Non-Monthly Periods