Information Systems:Fiscal Year-end Procedures (ASW) - Revision history

Jeremym: /* STEP 3 – EXECUTE PERIOD ROLL FROM 12 TO 1 */

2022-03-31T17:10:58Z

STEP 3 – EXECUTE PERIOD ROLL FROM 12 TO 1

2022-03-31T17:09:39Z

STEP 3 – EXECUTE PERIOD ROLL FROM 12 TO 1

2019-04-08T19:14:15Z

2018-01-29T21:16:58Z

2018-01-29T18:58:26Z

STEP 3 – EXECUTE PERIOD ROLL FROM 12 TO 1

2018-01-29T18:55:34Z

STEP 3 – EXECUTE PERIOD ROLL FROM 12 TO 1

2018-01-29T18:42:05Z

2018-01-29T18:40:02Z

2018-01-29T18:39:13Z

STEP 6 - RECORD RETAINED EARNINGS AND CLOSE PERIOD 13

2018-01-29T18:38:36Z

@@ Line 35: / Line 35: @@
 This job is typically on job control/scheduler and runs automatically. However if it is not, here are the instructions:
 # In ASW navigate to the following area: Financials/Financial Accounting/Period end tasks
-# Select ‘Execute period rollover/reorganization/backup’
+# Select: Execute period rollover/reorganisation/backup
 # Check ‘Execute’ under ‘Period roll-over’. You may optionally set a start time. (24hr clock) For example you could select 2300hrs and date of 12/31/16.

@@ Line 34: / Line 34: @@
 This job is typically on job control/scheduler and runs automatically. However if it is not, here are the instructions:
 # Select ‘Execute period rollover/reorganization/backup’
 # Check ‘Execute’ under ‘Period roll-over’. You may optionally set a start time. (24hr clock) For example you could select 2300hrs and date of 12/31/16.

← Older revision		Revision as of 19:14, 8 April 2019
Line 94:		Line 94:

	[[Category:ASW: Technical Reference]]		[[Category:ASW: Technical Reference]]
		+	[[Category: Fiscal Year-end Tasks]]

@@ Line 29: / Line 29: @@
 ===STEP 3 – EXECUTE PERIOD ROLL FROM 12 TO 1===
 ----
  THERE IS NO DIFFERENCE IN ROLLING TO A NEW YEAR AND ROLLING FROM MONTH TO MONTH FROM A USER-PERSPECTIVE; HOWEVER, THIS JOB MAY TAKE SIGNIFICANTLY LONGER THAN OTHER MONTHS. THE REASON IS DUE TO THE SYSTEM CREATING ‘OPENING
  BALANCES’ FOR THE NEW YEAR AND PURGING SUMMARY BALANCES. DO NOT END THIS JOB IF IT APPEARS TO BE TAKING TOO LONG.

@@ Line 34: / Line 34: @@
 This job is typically on job control/scheduler and runs automatically. However if it is not, here are the instructions:
-Select ‘Execute period rollover/reorganization/backup’
+# Select ‘Execute period rollover/reorganization/backup’
-Check ‘Execute’ under ‘Period roll-over’. You may optionally set a start time. (24hr clock) For example you could select 2300hrs and date of 12/31/16.
+# Check ‘Execute’ under ‘Period roll-over’. You may optionally set a start time. (24hr clock) For example you could select 2300hrs and date of 12/31/16.
 ===STEP 4 - REVIEW ROLLED GL CONTROL FILE – AFTER PERIOD ROLL===

@@ Line 5: / Line 5: @@
 ===STEP 1 – UPDATE YEARLY TABLES===
 {{quote-sm |'''''Done by Accounting.'''''}}
@@ Line 18: / Line 19: @@
 ===STEP 2 - REVIEW GL CONTROL FILE===
 Prior to running the period roll from period 12 to 1 of new fiscal year, the following values in the GL control file should be reviewed:
 # We strongly recommend closing old accounting periods however it is not ‘technically’ necessary.
@@ Line 27: / Line 28: @@
 ===STEP 3 – EXECUTE PERIOD ROLL FROM 12 TO 1===
 {{quote-sm |'''''Done through job scheduler - EOMASW'''''}}
@@ Line 37: / Line 39: @@
 ===STEP 4 - REVIEW ROLLED GL CONTROL FILE – AFTER PERIOD ROLL===
 The system will automatically increment to the first period of the new year. The following GL control file fields should be reviewed.
 “Actual year/period” will represent the new year and period 01. (1701)
@@ Line 46: / Line 48: @@
 ===STEP 5 – DISTRIBUTION “TURN OF YEAR”===
 {{quote-sm |'''''Done through job scheduler - EOMASW'''''}}
@@ Line 61: / Line 63: @@
 ===STEP 6 - RECORD RETAINED EARNINGS AND CLOSE PERIOD 13===
 {{quote-sm |'''''Done by Accounting.'''''}}

← Older revision		Revision as of 18:40, 29 January 2018
Line 92:		Line 92:
	# Press enter. Printer queue is displayed. A report of the final closing balance for period 12 and final opening balance for period 01 will be printed.		# Press enter. Printer queue is displayed. A report of the final closing balance for period 12 and final opening balance for period 01 will be printed.

−	[[Category:ASW - Technical Reference]]	+	[[Category:ASW: Technical Reference]]

@@ Line 66: / Line 66: @@
 The following is the recommended procedure for closing out the year. This can be run at ANYTIME in the new year. Typically, this is not done until all adjusting entries and audit entries(if applicable) are made.
 NOTE: During the period roll, end of year balance sheet amounts are brought forward into the new year’s opening balance. From that point on, any adjustments made to prior year balance sheet accounts will update these opening balances.
 NOTE: Make adjusting entries to period 12 of year being closed. Examples: Tax, Audit, other year-end adjustments. This will leave period 13 reserved for use by the yearend close entry. If you prefer to post these entries in period 13, be sure to report appropriately in report writer.
@@ Line 86: / Line 85: @@
 Note: For any report which includes period 13, make sure not to double count current year earnings on your balance sheet.
-=====6.2 Close the Final Accounting Period 13=====
+====6.2 Close the Final Accounting Period 13====
 Run routine ‘Close Accounting Period’ as normal. A couple extra steps are added from the normal month end:
 # ‘Period to be closed’ will be 1613. A warning message will display ”Pressing F8 will check balance on trade accounts…” Press F8.