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To populate the information about a financial year select it from the year drop down list.
Auto-create of Financial Years
After a journal is saved, if the latest created financial year for the journal ledger host company ends less than a year after the journal date then a new financial year will be created for the year following
GL Control Configuration form (Admin menu, Finance, GL Control Accounts), GL (Advanced) tab:
New field ‘Financial Year Name Format’.
Name will be converted to upper case.
Key strings in the format will be replaced:
{SY} will be replaced with the 2 digit calendar year that the financial year starts in, e.g. 2021 = 21.
{SY4} will be replaced with the 4 digit calendar year that the financial year starts in, e.g. 2021.
{EY} will be replaced with the 2 digit calendar year that the financial year ends in, e.g. 2022 = 22.
{EY4} will be replaced with the 4 digit calendar year that the financial year ends in, e.g. 2022.
Other characters will be left unchanged, e.g. if the financial year ends 30/6/2022 FY{SY}{EY} = FY2122 or FY {EY4} = FY 2022.
After a journal is saved, if the latest created financial year for the journal ledger host company ends less than a year after the journal date then a new financial year will be created for the year following the latest created financial year, using the name format shown above.
To create a new Financial year
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When the last period that was open in a financial year is closed the year will be calculated
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The GST Explorer for BAS enables closing of BAS periods without closing financial periods. Any transactions that are added to a closed BAS period are reported in the next BAS period as a change from the previous period. |
Roll Account Totals recalculates all the GL Accounts for all time until the last closed period and also updates the retained earnings for each year.
The Standard Financial Reports Module in the system use the calculated Retained Earnings Figure
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In the bottom of the grid is the total Debits and credits across all accounts.
Opening Balances
Once a period has been selected in the Financial year tab the values for each account of the opening balances for the selected period.
Note - '''Create Zero or Empty Opening Balances Button''' is a use once capability used when first implementing the system.Usually created by Upload or Import a General Journal from Excel
Cross Period Explorer Tab
This is an audit function to enable searching for Stock Sales Orders that have Revenue journals but not COGS journals in the same or earlier financial period as the revenue. Typically these transactions may have journals entered into the system for accounting purposes on period ends that enable the reporting of the COGS amount for the period and reversing it again at the beginning of the next period. '''Create Journal for''' Button is used to create a single journal for the entire amount of COGS in the period.
How to use the Cross Period Explorer
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