GL Year-end Procedures 1

[hahsia]

Hi,

Its going to be my 1st time doing year-end closing this year & have some doubts on how do i go about doin it. Hope somebody could enlightened me.
I have the following qns:

1) I have not completed my GL entries for period end December but the sales, purchase & inventory dept will need to proceed with their new year 2006 transactions

a) can they proceed with their daily duties in 2006 even before i manage to close my financial year 2005?

b) roughly i'll be able to complete my GL entried for Dec 2005 by 10th January, can i proceed to run "Create New year function" when there's 2006 transactions from sales/purchase/inventory dept.

c) And what if i need to do adjustments to financial yr 2005 after the auditors audit my accounts?

Please advice.
Thanks

 

[jayconverse]

Don't you have an Accpac business partner? These are beginner-type questions.

1) Create the new year in the fiscal calendar, and when the 2006 entries get to the GL, don't post them.

a) yes
b) yes
c) Check the box "allow posting to previous years" in GL setup.

Jay Converse
IT Director
Systemlink, Inc.

 

[hahsia]

Thanx Jay!

 

[RogerRuntings]

I am having the same problem at a client...when the new year is created (Fiscal Calendar), then on restart of the ACCPAC, we get:

Earlier processing was not completed.
Use Restart Maintenance to see which operations stopped due to errors.

Looking in 'Restart Maintenance', we see:

Database ID: GAMDAT
Program Name: GL0026
Restart Number: 8,706
UserID: ADMIN
Date: 01/09/2006
Time: 10:07:51
Message: Create New Year processing did not complete.
Run the Create New Year program in order to finish new year processing.



I'm stuck...I need help....I am just learning this ACCPAC program and I'm being sent out to assist clients who want answers like, yesterday!

 

[jayconverse]

Two likely causes:

1. You ran G/L Year End, and the closing period was locked in the Fiscal Calendar.

2. Somebody ran GL Year-End twice in a row. 2006 got created, but 2007 didn't (and it shouldn't have).

Jay Converse
IT Director
Systemlink, Inc.

 

[RogerRuntings]

The ACCPAC version is 5.3A, The client OS is WinXP SP2, the Server is Win2000 AD Server.

I did this procedure at another client on Friday and everything worke without a hitch.

 

[jayconverse]

Accpac version, OS, and database don't matter. I've seen people do this since version 2.0 on Windows 95.

Jay Converse
IT Director
Systemlink, Inc.

 

[RogerRuntings]

I made sure that:

'Make sure the adjustment and closing periods of the current fiscal year are unlocked.'

I would need to call the client and see if there actually is a '2007'. If there is, can I just delete it on that screen?

How do I resolve that problem?

 

[jayconverse]

Here's what I think happened.

They created 2006 in the fiscal calendar. Then they created 2006 in GL. So far so good.

Then, they clicked the "Create New Year" icon in G/L again. They got an error message because 2007 wasn't created in the fiscal calender, which is correct. And they didn't tell you about that error message. So now, there's a restart record.

All you have to do is look in G/L setup, and see if the current year is 2006. If it is, then delete the restart record.

Jay Converse
IT Director
Systemlink, Inc.

 

[RogerRuntings]

OK, Jay. I'lllet you know how that turns out. Thanks.

 

[RogerRuntings]

That did help, J. Thanks a lot! *