GL End Of Period

Navigator > Tasks > General Ledger > End Of Period

You can move the Current Period for General Ledger processing and reporting forward one period (adjustment periods are excluded).

Normally this is done each month at the end of the accounting period after:

End of Period has been completed for each Sub Ledger.
GST / BAS Returns has been accepted if it is the end of a GST reporting period.
Sub ledger batches have been transferred to the General Ledger.
All batches for the period have been posted.
Financial and other reports have been run.

GL End of Period Update

Take a monthly backup as well as the daily backup before you perform an End Of Period.

End of period is not reversible though batches may still be posted subject to available periods, and reports are available as at any period.

Validation

Before the update, Accredo will validate the ledger to ensure that the chart structure is valid. If you see the message "Ledger is not valid", go to Navigator > Tasks > General Ledger > Validate Ledger and correct validation issues before proceeding.

Before the update form is displayed, a number of checks occur and warnings will appear if there are untransferred or unposted batches, or if no transactions have been posted for the period. To view unposted batches, go to Maintain > General Ledger > Transaction Batch List. To view untransferred GST batches go to Maintain > Goods and Services Tax > Transaction List. To transfer GST batches go to Tasks > Goods and Services Tax > Transfer to General Ledger.

View the Current Period to ensure you are in the period you expect.
Print report lists prior to performing the End Of Period.

Click Run to proceed with the End of Period which will:

Advance the Current Period and available period range, setting status for the period to Open if required.
Add balance records as required.
Update budget opening figures to actuals at year end for the new current year.

Note: There is no separate end of period update required for the Adjustment period.