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

GL Configure Year End

You use this program to move existing data in the current financial year from their current periods to the end of year periods. For example, if your current period is 4, then the data in periods 1 - 4 inclusive are moved to periods 9 - 12 inclusive.

Configure Year End

Field Description
Current ledger period

This indicates the ledger period and year that the General Ledger module is currently in.

[Note]

This period must be the period that will become your final period of your new financial year.

Additionally, all modules (sub ledgers) that interface with the General Ledger must be in the same period and year as the General Ledger. These modules are Accounts Payable, Accounts Receivable, Cash Book, Assets Register, Inventory and Work in Progress.

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 therefore be taken to prevent this by not opening non-existent periods in the General Ledger.
Start Update

Select this to begin moving your data.

The following example explains how the data is moved:

If the current period is 6 and there are 12 accounting periods in the year (Company Maintenance - General tab), then the data in period 6 is moved to period 12; the data in period 5 is moved to period 11; etc. Once this program has been run, there will appear to have been no transactions in periods 1 to 6 inclusive. However, all rolling month history remains unaltered. This includes the 12 month sales and issues by stock code; the 24 month sales history by customer; and the 12 month sales and budgets for product class, salespersons and targets.

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

The conversion does not clear transactions from rolling months history in the modules. This means that when you run the Sales Analysis Query program, the following remain unaltered:

  • the 12-month sales and issues by stock code
  • the 24-month sales history by customer
  • the 12-month sales and budgets for product class, salespersons and targets

If, after running the year end, your company is in the wrong financial year, you can use the GL Define Financial Year End program to increment/decrement the financial year by up to 9 years.

[Note]

The GL Configure 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). Therefore 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.
Close Select this to exit the program.

Example

This example describes how you would "lengthen" your financial year for a single company.

Your financial year runs from 1st March to 28th February. You need to change this to run from 1st July to 30th June.

Your system is currently in Period 12/07 (calendar month/year February 2007).

Since you cannot lengthen the year from 12 to 16 periods, you need to proceed as follows:

  1. Process all transactions for Period 12/07 (calendar month/year February 2007).

  2. Process a Year end as usual for Period 12/07 (calendar month/year February 2007) in all subsidiary modules and in the General Ledger.

    Once the year end is successfully completed, your system will be in Period 01/08 (calendar month/year March 2007).

  3. Continue to process transactions as usual (i.e. as if you are not going to change your year end) until the end of Period 4 (calendar month / year June 2007).

  4. Once you have processed all transactions for Period 4 (calendar month/year June 2007), you can shorten the current financial year by 8 months to make the beginning of your new financial year 1st July 2007.

    To achieve this, at the end of Period 04/08 (calendar month/year June 2007):

    1. Ensure that all pre-requisites to using the GL Configure Year End, GL Control Record Update and GL Define Financial Year End programs are met (see Change your year end).

    2. Process the Balance function of the GL Period End program to ensure that the current (short) year is in balance.

      If not, then do not proceed until you have resolved the imbalance.

    3. Run the GL Configure Year End program to move all transactional data to the equivalent period in relation to the new year-end period.

      As you are shortening the year, you need to move the data in the current periods 01 to04 to periods 09 to 12 respectively.

      The GL Configure Year End program will move all your data currently in Period 01/08 (March 2007) to Period 09/08, the data in Period 02/08 (April 2007) to Period 10/08, the data in Period 03/08 (May 2007) to period 11/08 and the data in Period 04/08 (June 2007) to Period 12/08.

    4. Run the GL Control Record Update program to put the General Ledger into Period 13/08 and the subsidiary ledgers into Period 12/08.

    5. Ensure that the totals for each account type on the Current period summary produced by the Balance current year function of the GL Period End program agree with the report produced by the GL Control Record Update program.

      If not, then resolve any issues before continuing.

    6. Process the Year end function as usual in all subsidiary modules and in the General Ledger.

      This puts the General Ledger and all subsidiary ledgers into Period 01/09, (which is incorrect, but will be corrected using the GL Define Financial Year End program - see below).

    7. If you are using the Assets Register module, then ensure that the period end dates are correct. Amend them if necessary.

    8. Run the GL Define Financial Year End program and select to decrease the current year by one.

      This is because your system is currently in Period 01/09 (after the year end), but you are physically in July 2007, so this must be changed to Period 01/08.

      Once run successfully, the GL Define Financial Year End program will have changed the General Ledger and all subsidiary ledgers into Period 01/08. In addition, it will also have decremented the year against each transaction in the previous years' ledgers on file by one.

      [Note]

      Depending on the number of year's history you are retaining, this process could take several hours to complete.

    9. If you are running more than one SYSPRO company, you will need to repeat the entire process in each of the companies for which you want to change the financial year.

Notes and warnings

Prerequisites

  • Before using this program, ensure that you have a complete backup that can be restored if necessary.

  • If you are using the Assets Register module, then before you use this program, you must ensure that:

Restrictions and limits

  • This program will not run if any of the sub-ledgers are not in the same current period and year as the General Ledger.

Change your year end

The following are prerequisites to using the GL Configure Year End, GL Control Record Update or GL Define Financial Year End programs:

  • You must ensure that you have a complete backup of your system 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.

  • If you are using the Assets Register module, then before you use this program, you must ensure that:

  1. Run the GL Configure Year End program to move existing data in the current financial year from the current periods to the year end period (i.e. the current period is changed to the 12th period). The General Ledger is changed to period 12 + 1 (or 13 + 1) depending on the number of accounting periods defined against the company (Company Maintenance - General tab).

  2. Run the GL Control Record Update program to change the current period in all sub ledger control records to 12.

  3. Run the Year end function in all modules, including the General Ledger. This places all modules into period 1 of the next financial year.

  4. Optionally run the GL Define Financial Year End program to correct the financial year field in all the files modified by the GL Configure Year End and GL Control Record Update programs.

    [Note]

    You only need to perform this step if the year is incorrect.

  5. Check all the budget figures and recapture these where necessary.

  6. If you are sharing General Ledger and/or Inventory files between various companies (Company Maintenance - Options tab), then repeat this entire task for all companies involved, in order to update all files correctly in each company.

  7. If you are using the Assets Register module, then when you run the year end function of the Assets Period End program you are prompted to enter the period end dates. You enter the new period end dates for the assets register module for the current and the previous year. The previous year's and current year's period end dates should be the same except for the year. For example, if the first period end date of the current year is 31/01/2006, then the first period end date for the previous year must be 31/01/2005.