GL Define Financial Year End

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

GL Define Financial Year End

You use this program to add or subtract years from the financial year field in all the files modified by the GL Configure Year End and GL Control Record Update programs.

Each transaction containing the financial year is adjusted according to the number of years specified. This prevents duplicate records when posting begins in the new financial year.

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Field

Description

Start Processing

Changes the Current financial year according to your selections.

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

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).

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.

GL Define Financial Year End Details

Field	Description
Current financial year	Indicates the current financial year. The year changes according to your selections at the Process method field.
Process method	Select whether you want to change the Current financial year to an earlier year (Decrement) or later year (Increment). If you are shortening your financial year, then you must run the GL Configure Year End and the GL Control Record Update programs to move your data and then run the GL Define Financial Year End program. If you defined your financial year incorrectly, then you only need to run the GL Define Financial Year End program to increase/decrease the current year as required.
Number of years	Indicates the number of years by which the Current financial year must be changed.

Field

Description

Current financial year

Indicates the current financial year. The year changes according to your selections at the Process method field.

Process method

Select whether you want to change the Current financial year to an earlier year (Decrement) or later year (Increment).

If you are shortening your financial year, then you must run the GL Configure Year End and the GL Control Record Update programs to move your data and then run the GL Define Financial Year End program.

If you defined your financial year incorrectly, then you only need to run the GL Define Financial Year End program to increase/decrease the current year as required.

Number of years

Indicates the number of years by which the Current financial year must be changed.

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.
The General Ledger module must be installed and all modules must be in the same 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.

Run the GL Configure Year End program to move existing data in the current financial year from the current periods to the end of year periods.
Run the GL Control Record Update program to update all sub ledger control records with the year end period.

The General Ledger is updated with the year end period plus 1.
Run the year end function in all modules.
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.

You only need to perform this step if the year is incorrect.
Check all the budget figures and recapture these where necessary.
If you are sharing General Ledger and/or Inventory files between various companies (Company Maintenance) then repeat this process for all companies involved, in order to update all files correctly in each company.