GL Define Financial Year End

General Ledger > Setup > Change Financial Year End > GL Define Financial Year End

GL Define Financial Year End

You use this program to add or subtract years from the financial year field in all the files modified by the GL Configure Financial Year End and GL Control Record Update programs.

Toolbar and menu

Field	Description
Start Processing	Changes the Current financial year according to your selections. Each transaction containing the financial year is adjusted according to the number of years specified. This prevents duplicate records when posting begins in the new financial year. If Alternate currency ledgers exist, then the G/L Alternate Currency Detail and History files are included in the conversion process. See Restrictions and limits in Notes and warnings

Field

Description

Start Processing

Changes the Current financial year according to your selections.

Each transaction containing the financial year is adjusted according to the number of years specified. This prevents duplicate records when posting begins in the new financial year.

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

See Restrictions and limits in Notes and warnings

GL Define Financial Year End Details

Field	Description
Current financial year	Indicates the current financial year. The year changes according to your selections at the Process method field.
Process method	Select whether you want to change the Current financial year to an earlier year (Decrement) or later year (Increment). If you are shortening your financial year, then you must run the GL Configure Financial Year End and the GL Control Record Update programs to move your data and then run the GL Define Financial Year End program. If you defined your financial year incorrectly, then you only need to run the GL Define Financial Year End program to increase/decrease the current year as required.
Number of years	Indicates the number of years by which the Current financial year must be changed.

Field

Description

Current financial year

Indicates the current financial year. The year changes according to your selections at the Process method field.

Process method

Select whether you want to change the Current financial year to an earlier year (Decrement) or later year (Increment).

If you are shortening your financial year, then you must run the GL Configure Financial Year End and the GL Control Record Update programs to move your data and then run the GL Define Financial Year End program.

If you defined your financial year incorrectly, then you only need to run the GL Define Financial Year End program to increase/decrease the current year as required.

Number of years

Indicates the number of years by which the Current financial year must be changed.

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.

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 process for all companies involved, in order to update all files correctly in each company.