Create Year End Vouchers
Explanation
Use this activity to finally transfer the closing balances of a selected
ledger from one accounting year to the opening balances of the next accounting
year. One voucher for the closing balance
and one voucher for the opening balance in period 0 in the following year will
be created.
When a balance amount is 0, it is not transferred to
the new balance.
Prerequisites
Before a final transfer of the balances can be done, the following
must have been completed for the selected ledger:
- The profit or loss for the past accounting year must be
posted before the final transfer.
- There must not be any vouchers in the hold table.
- The accounting periods for the closing accounting
year must be closed.
- A year closing period must be created.
- The user must be connected to a user group defined
for year-end periods.
- This user group must be connected to the actual year
closing and year opening periods and to a voucher type with function group
YE.
- The accounting periods in the accounting year must
all have the same status, either Closed or Finally Closed.
System Effects
As a result of this activity, two vouchers are created.
One voucher for the
closing of balances on the balance accounts in the year closing period of the
year and one voucher for the opening of balances on the balance accounts in
period 0 in the following year. The two vouchers are placed in the hold
table of the selected ledger to be manually updated to the respective ledger.
When the year end vouchers are created, the year status
of the selected ledger is changed to Closed. The Closing Balance and Opening Balance
fields are updated
with Final Voucher Created status when the respective voucher is updated to the
ledger. See Accounting Periods for more information.
If final closing of accounting periods is used, the
status of the accounting year of the selected ledger will be changed to Finally Closed.
Window
Final Year End
Related Window Descriptions
Final Year End, Accounting
Periods
Procedure
Use the following procedure to transfer final year-end
balances:
- Open the Final Year End window.
- Enter the ledger ID for which you want to transfer the final balances.
The List of Values can be used to select the required ledger ID.
- Select Create Year End Vouchers.
- Enter the accounting year from which you want to
transfer the closing balances.
- Enter the accounting year to which you want to
transfer the opening balances.
- Enter the user group. Use the List of Values to select a
user group valid for the accounting periods.
- Enter the voucher type. Use the List of Values to select a
voucher type that belongs the function group YE. The List of Values only
contains voucher types that are valid for the user group.
- To start the transfer, click OK. A validation is carried out to match the
debit and credit balances. Assets, liabilities and owner's equity must balance. A
validation is also carried out to ensure that all the accounting periods in the primary calendar from which
the closing balances are to be transferred are closed or
finally closed for the accounting year. A
message is displayed when the transfer is complete.
- Click Print to print the report in order to
check the transfer. You can view the report by clicking Preview. The
report can also be found in
Archived
Reports.