GL Control Record Update

General Ledger > Setup > Change Financial Year End > GL Control Record Update

GL Control Record Update

You use this program to set the current period as the year end period in all sub-ledgers. These sub-ledgers include: Accounts Payable, Accounts Receivable, Cash Book, Assets Register, Inventory and Work in Progress.

Control Record Update

Field	Description
Current ledger period	This indicates the current General Ledger period.
Last period of year	This indicates the period to which all control records in the sub ledgers will be set by this program.
Start Update	Select this to update the control records in the sub ledgers as well as in the General Ledger. A General Ledger Balance function is automatically run after the update (GL Period End). If Alternate currency ledgers exist, then the G/L Alternate Currency Detail and History files are included in the conversion process. The General Ledger is updated with the year end period plus 1. The reason for this is that if the General Ledger has 12 periods in the year, then SYSPRO provides an additional period in which to do year-end adjustments. This is deemed to be the year-end period for General Ledger. Therefore, in order to get the General Ledger into the year-end period, the General Ledger control record is updated with the year-end period plus 1, resulting in the current period in General Ledger being set to 13. If you used the GL Structure Definition program to structure your General Ledger codes and you selected the option: Section analysis required from the GL Structure Definition program, then the Rebuild Analysis History screen is displayed after you redefined your year end. This screen enables you to rebuild your General Ledger analysis history tables/files based on your existing General Ledger history and budget tables/files. (see Rebuild Analysis History).

Field

Description

Current ledger period

This indicates the current General Ledger period.

Last period of year

This indicates the period to which all control records in the sub ledgers will be set by this program.

Start Update

Select this to update the control records in the sub ledgers as well as in the General Ledger.

A General Ledger Balance function is automatically run after the update (GL Period End).

If Alternate currency ledgers exist, then the G/L Alternate Currency Detail and History files are included in the conversion process.

The General Ledger is updated with the year end period plus 1. The reason for this is that if the General Ledger has 12 periods in the year, then SYSPRO provides an additional period in which to do year-end adjustments. This is deemed to be the year-end period for General Ledger. Therefore, in order to get the General Ledger into the year-end period, the General Ledger control record is updated with the year-end period plus 1, resulting in the current period in General Ledger being set to 13.

If you used the GL Structure Definition program to structure your General Ledger codes and you selected the option: Section analysis required from the GL Structure Definition program, then the Rebuild Analysis History screen is displayed after you redefined your year end. This screen enables you to rebuild your General Ledger analysis history tables/files based on your existing General Ledger history and budget tables/files. (see Rebuild Analysis History).

Notes and warnings

Prerequisites

The following prerequisites apply to the GL Configure Financial Year End, GL Control Record Update and GL Define Financial Year End programs:
- Ensure that you have a complete system backup that can be restored if necessary.
- Ensure that all operators besides yourself, are logged out of the system.
- The General Ledger module must be installed and all modules must be in the same financial year and period as the General Ledger.
- You must be in the period that will become your final period of your new financial year.
- If you intend retaining full multi-period accounting, then the short year must be at least two periods long.
  
  All previous year statistics in the Sales Analysis module and other sub-ledgers will reflect the shorter year.
  
  Although a single period year can be accommodated, the transactions posted to a period two periods back (while in the first period of the new year) would be posted to a non-existent period. This would be awkward to deal with in financial statements. Care should be taken to prevent this by not opening non-existent periods in the General Ledger.

The GL Configure Financial Year End program must be run before you can run the GL Control Record Update program.

Restrictions and limits

The GL Configure Financial Year End, GL Control Record Update and GL Define Financial Year End programs update only the data in the current Company (the Company from which they are run). If you have several companies sharing the General Ledger and/or Inventory files, then these programs must be run for each company involved to update all the files correctly.

Change your year end

Ensure that all prerequisites to using this program are met.

See Prerequisites in Notes and warnings.
Run the GL Configure Financial Year End program to move existing data in the current financial year from the current periods to the end of year periods.
Run the GL Control Record Update program to update all sub ledger control records with the year end period. The General Ledger is updated with the year end period plus 1.
Run the year end function in all modules.

Optionally run the GL Define Financial Year End program to correct the financial year field in all the files modified by the GL Configure Financial Year End and GL Control Record Update programs.


	You only need to perform this step if the year is incorrect.

Check all the budget figures and recapture these where necessary.
If you are sharing General Ledger and/or Inventory files between various companies (Company Setup) then repeat this entire task for all companies involved, in order to update all files correctly in each company.