Navigation:  General Ledger >

Year End Roll

Training Manuals Alphabetical Function List Back Print this Topic Previous topicOne level upNext topic
Show/Hide Hidden Text

This function is used at the end of a financial year.  It is applied to calculate the actual amount for every income statement account for the Financial Year to be ended and post a corresponding journal for every income statement account to ensure that the opening balance results to zero for the start of the new financial year.

 

The user specifies the retained earnings account code, which will result in the posting of journals to divisional accounts of which the Account Code corresponds with the specified "Retained Earnings" account code.  The actual amounts for all income statement accounts will thus be summed per division and posted to the relevant retained earnings account per division.

 

This function allows for a simulated roll that can be performed before deciding to perform the actual year end roll and resulting journals.

 

On this tab the following fields can be viewed:

 

hmtoggle_plus1Apply

When the "Apply" button is clicked, it first checks to see that all Divisions' Retained Earnings accounts exist. It will prevent you from continuing with the Year End Roll if any of the accounts are missing.

 

If "Simulated Roll" is checked, the actual update will not be performed i.e. the journals will not be written.

 

If "Simulated Roll" is unchecked, the actual update will sum all actual amounts of income statements between the "From Period" and "To Period" and write it to the divisional accounts of which the retained earnings code is supplied.  The other leg of the journal is written to the Income Statement account.  Both Journals are written in the "To Period" financial period.

 

The source "Y" for, Year End Journals must exist in the Journal Source table in order for the journals to be inserted.

hmtoggle_plus1Error log

Only when the Actual Roll is performed will all unsuccessful attempts to write journals be written to the specified file.

hmtoggle_plus1Financial Year

It is populated with the financial year from the Financial Year table.  The number of characters to be entered before the list is shown is governed by the value of "populate length" (mandatory).

 

When a financial year is selected, the first financial period and last financial period are displayed in the "From Period" and "To Period" text boxes respectively.

hmtoggle_plus1From Period

Displays the first financial period for the selected financial year.  The accounts are summed for the period from the "From Period" up to and including the "To Period".

hmtoggle_plus1Journals List Box

Displays the results (retained earnings) summed per division with or without an Actual or Simulated Roll.

 

The sum of all the Divisions' retained earnings is displayed in the last row of the list box.

hmtoggle_plus1Results To

Only when the Actual Roll is performed will the results be written.  These results are then written to the specified file.

hmtoggle_plus1Retained Earnings

It is populated with codes and descriptions from the Account Codes table.

 

The number of characters to be entered before the list is shown is governed by the value of "populate length" (mandatory).

hmtoggle_plus1Simulated Roll

When checked, only calculations are performed and results displayed.  No journals are written.

 

When unchecked, the journals for the Year End Roll are written.

hmtoggle_plus1To Period

Displays the last financial period for the selected financial year.  The accounts are summed for the period from the "From Period" up to and including the "To Period".

hmtoggle_plus1View

When the "View" button is clicked, the user can view the file specified in the "Results To" text box.

hmtoggle_plus1View Error Log

When the "View" button is clicked, the user can view the file specified in the "Error Log" text box.