End of Year Processing
This module is used to close a fiscal year in the system. All twelve periods must be closed before you can proceed with end of year processing. If you are out of balance for the year, the system will not allow you to close until it has been corrected. If you use period 13 in the system, you do not need to close that period—the system will do it in this module. During this process, the system will zero out all income and expense accounts and the net income will be moved to your Current Earnings account. This process will also archive the detail from the General Ledger for the year you are closing for access through the Account Detail Inquiry module as well as the Account Detail and Summary Reports. When you enter this module the screen will appear as follows:
The cursor will be positioned at the Current Year (1) prompt. The system requires you to type in the year you are preparing to close. You can click the Previous Years (2) button to see the history of previous years closed in the system. In the Description (3) field, you can type out the fiscal year data, i.e., 1/1/2013-12/31/2013. Please Note: at the top left of the screen is an option that appears as follows: G/L Fiscal Year End Maintenance. You can use this feature to edit the Descriptions of Previous Years. When you click on this option, the system will prompt a Fiscal Year Ending Maintenance box as follows:
At the Company ID (1) prompt, if applicable, use the drop-down menu to select a different Company. At the Select Year (2) field, use the drop-down menu to select a previous fiscal year for which you would like to edit the description. At the Description (3) field, change or create a new description, i.e., 1/1/2010 – 12/31/2010. Click the Save button to continue. These descriptions will prompt everywhere you access the Previous Year option throughout the General Ledger system.
When you are 100% sure you are ready to close the year, click the box in the Are you sure this is the correct year? (4) field (in the first screenshot above) to proceed. Click the Run button to continue and close the year. Please Note: Once a year is closed it cannot be re-opened and no changes can be made.
Related Articles
End of Month Processing
This module is used to close an accounting period in the system General Ledger and to move Balance Sheet account balances over to the next period. It does not need to be done promptly at the end of every month. In fact, you can leave a period open ...End of Month Processing
This module should be run at the end of every month after all month-end A/R reports have been run and before any new activity is entered in the system for the next month. When you run this module, the system performs internal procedures to clear all ...Vendor History by GL Account Report
This report allows you to view Vendor activity broken down by G/L Account Number and will also give you additional data for each entry such as Posting Period, G/L Sequence, Invoice number, Check number, Checking Account, Paid Date and the Debit or ...GL Journal Import csv
This module will allow you to import your payroll and other financial data into RollMaster from a csv file. This program will likely be utilized by your RollMaster trainer/support team during initial setup, but thereafter can be used to quickly ...Date Driven General Ledger
This programming was developed to allow for the Date to drive the selection of the General Ledger Accounting Posting Period in the system. Most of the setup will be completed by a RollMaster Trainer prior to customers using the new ...