GL ENTRY IN A CLOSED YEAR(PF7)

To make a Journal Entry into a closed YEAR.

This procedure is accessible only at the highest Password level.
This technique uses the Programmer’s Menu, and does not include any data validation.

Make a Back Up of the data file before proceeding. Do not trash the backup until you have confirmed that the following procedures have been done correctly.

1. Use the Ledger menu > Re-Open Period to open old periods to the first month of your current fiscal year. This can be done by entering the opening year date. Do not re-open the previous year.

2. Print an Audit Trail for the Last day of the previous fiscal Year, and the First day of the current fiscal year.

3. Go to Maintenance > Programmers > PROG > Windows > Transactions.
INSERT the transactions. Each Debit and Each Credit must be a separate Record. Leave TSEQ and TSET blank. The only required fields are: TDATE, TPDATE, TDRAMT or TCRAMT (but not both!), and ACCOUNT.
When done, click the Last button, then the Previous button to find the first TSEQ in the series you just entered. Note the TSEQ number. This number must be Edited into the TSET field for all transactions you just inserted. This is the Transaction SET number.

4. Run the Audit Trail for the Post Date just inserted. Make sure the Delta (DR – CR) equals 0.00

5. Look at the Audit Trail for the last day of the month just entered. You will need to EDIT the Closing Transactions for the Accounts you just entered. Add the Amounts to the amounts already there. Print the Audit Trail for that post date to check your work. Make sure the Delta (DR – CR) equals 0.00

6. Look at the Audit Trail for the first day of your Opening Period. You will need to EDIT the Opening Transactions for the Accounts you just entered. Any Income Statement accounts – series 4, 5, 6, …etc. – must be added to the Income summary account. Add the Amounts to the amounts already there. Print the Audit Trail for that post date to check your work. Make sure the Delta (DR – CR) equals 0.00. There should be no Year OPENING transactions on Income Statement Accounts.

7. PROG > Reset Account Balances for the accounts affected.

8. If you use the GL Module, you will need to reset the Summary Account file.

9. Print Diagnostics.