CHAPTER 14 - YEAR-END PROCESSING
This option is used to "close" your books at the end of the year. Before
performing this update, the system will check to make sure that each of the
twelve periods have already been closed. If any of the periods have not been
closed, the following message will appear:
*** CANNOT PERFORM YEAR-END UPDATE ***
Monthly Update for pp/yy Has NOT Been Run Yet, press <RETURN> to continue
You must go back and run the Update Chart of Accounts option under the Monthly
Trial Balance for the period indicated before you can continue closing the year.
If all twelve periods have been closed, the following screen will appear:
** YEAR-END PROCESSING FOR G/L **
Print Detailed Trial Balance? _
Perform Year-End Process for 1993
Year-End Processing
Enter Y if you want to print the Detailed Trial Balance before closing the year.
Otherwise, enter N to skip the report. The first message you will see is as
follows:
CHECKING G/L TRANSACTION BALANCES
999999999DR 999999999CR
The system will check to make sure that your Debit and Credit amounts are equal.
If they are not, you will see the following message:
Transactions Out Of Balance - Cannot Perform Year End
If you see this message, you should print a Journal Activity Report by Journal
Code for each period and look for unbalanced journals. Correct any journals that
do not balance and reclose the month through the Monthly Trial Balance - Update
Chart of Accounts option. You may want to reprint any financials or reports that
would be affected by the corrections.
If you have chosen to print the Year-End Trial Balance, the report will print,
and you will be prompted as follows:
Year-End Trial Balance Print Okay? (Y/N/REPRINT)
Enter Y to accept the Trial Balance and continue with the Year-End Closing.
Enter N if you want to abort the Year-End Closing. Enter REPRINT to print the
report again. If you have chosen to continue with the Year-End closing, the
following message will appear:
UPDATING CHART OF ACCOUNTS ...
The Year-End procedure is updating the Chart of Accounts Master file, the Budget
file, and the Retained Earnings, and recalculating new closing dates for each
period. The following screen will then appear:
UPDATE G/L CLOSING DATES
G/L Last Current
Period Year G/L Closing Date
------ -------- -------- -----------------
1 01/31/92 01/31/93 Jan 31, Sunday
2 02/29/92 02/28/93 Feb 28, Sunday
3 03/31/92 03/31/93 Mar 31, Wednesday
4 04/30/92 04/30/93 Apr 30, Friday
5 05/31/92 05/31/93 May 31, Monday
6 06/30/92 06/30/93 Jun 30, Wednesday
7 07/31/92 07/31/93 Jul 31, Saturday
8 08/31/92 08/31/93 Aug 31, Tuesday
9 09/30/92 09/30/93 Sep 30, Thursday
10 10/31/92 10/31/93 Oct 31, Sunday
11 11/30/92 11/30/93 Nov 30, Tuesday
12 12/31/92 12/31/93 Dec 31, Friday
Closing Dates Correct? (Y/N) Y
Closing Date Confirmation
Enter Y to accept the closing dates as they appear. Enter N if you want to make
any changes to the current closing dates. After you accept the closing dates,
the system will update the Accounting Period Record file accordingly and return
to the menu.