Year-end reversing entries? 1

[Cristian122]

Hello,

I apologize if this has been covered before but it's rather urgent. I'm looking to close 2010 and have a few reversing entries as at Dec 31/10 - currently the system is not letting me set the Auto-Reverse function (getting the error message "Incorrect Procedure. Cannot post to a future year". I would greatly appreciate it if someone could let me know if it's possible to have year-end reversing entries, and if so how can I set them up as such prior to creating a new year, which I believe closes the prior year such that no changes can be made to the posted entries.

Thank you,

Cristian

 

[ettienne]

Yes... I assume 2011 has been created in the fiscal calender.
You will get an error because you cannot post to 2011 before 2010 is closed. You will however have an error batch for 2011 that you can post after you have closed 2010.

 

[Cristian122]

Thanks Ettienne, much appreciate the quick response. Yes, I have created the 2011 fiscal calendar. I was not aware that Error Batches can be posted, and I can't spot the process in the User Manual. Could I trouble you to briefly outline the process of running the error batch after closing 2010? I'd do it myself through trial and error, but once I close 2010 there's no going back. And just in case it's needed I'm using Sage Accpac 500 ERP (v5.3B).

Thanks again,

Cristian

 

[ettienne]

Click the Post button... it's just like posting any other batch.
And you can go back.

 

[Cristian122]

Thanks Ettienne. Seems like I've got quite a bit left to learn