Financial Year End Processing

Transcription

1 Financial Year End Processing

2 Pronto is a registered trademark and PRONTO-Xi is a trademark of Pronto Software Pty Ltd (ABN ) All other products mentioned are trademarks or registered trademarks of their respective companies. Copyright 2010 Pronto Software Pty Ltd. All rights reserved. Permission is granted under the Software License Agreement to incorporate the contents of these manuals into your own procedure manuals, only for the purpose of assisting your staff in the use of PRONTO-Xi. Any documents incorporating all or part of these manuals must bear notice of Pronto Software s ownership of copyright of the content of these manuals. All business referred to in examples are entirely fictitious. Any resemblance to any company or individual is accidental.

3 Table of Contents Table of Contents REVIEW MAJOR FUNCTION FLAGS... 3 PRE-ROLLOVER... 5 STEP 1: COMPLETE POSTINGS TO THE LEDGERS... 5 INVENTORY LEDGER PROCESSING... 5 CUSTOMER LEDGER PROCESSING... 5 SUPPLIER LEDGER PROCESSING... 5 FIXED ASSETS LEDGER PROCESSING... 6 GENERAL LEDGER PROCESSING... 6 STEP 2: BACKUP DATA AND SYSTEM FILES... 7 END OF YEAR PROCEDURES... 8 INVENTORY... 8 STEP 1: INVENTORY LEDGER PROCESSING... 8 STEP 2: LOCK INVENTORY LEDGER... 8 STEP 3: INVENTORY INTEGRITY... 8 STEP 4: PRINT THE FINAL INVENTORY VALUATION REPORT FOR THE YEAR END... 9 STEP 5: INVENTORY LEDGER ROLLOVER DEBTORS STEP 1: CUSTOMER LEDGER PROCESSING STEP 2: LOCK ACCOUNTS RECEIVABLE LEDGER STEP 3: CUSTOMER INTEGRITY STEP 4A: RUN THE CUSTOMER STATEMENTS PRODUCED FOR THE MONTH/YEAR STEP 4B: RUN THE END-OF-MONTH CUSTOMER REPORTS STEP 4C: RUN END-OF-MONTH SALES REPORTS STEP 5: CUSTOMER LEDGER ROLLOVER CREDITORS STEP 1: SUPPLIER LEDGER PROCESSING STEP 2: LOCK ACCOUNTS PAYABLE LEDGER STEP 3: SUPPLIERS INTEGRITY STEP 4: RUN SUPPLIERS END-OF-MONTH REPORTS STEP 5: SUPPLIER LEDGER ROLLOVER FIXED ASSET STEP 1: FIXED ASSETS LEDGER PROCESSING STEP 2: FIXED ASSETS INTEGRITY STEP 3: RUN THE FIXED ASSETS REPORTS INCLUDING TAX RECONCILIATION REPORTS STEP 4: FIXED ASSET ROLLOVER STEP 5: PURGE ALL DISPOSED ASSETS (OPTIONAL/NOT RECOMMENDED) GENERAL LEDGER Scope Systems - End Of Year Procedure Page i

4 Table of Contents STEP 1: GENERAL LEDGER PROCESSING STEP 2: GENERAL LEDGER APPROPRIATION ACCOUNT (GLAPP) STEP 3: LOCK GENERAL LEDGER STEP 4: GENERAL LEDGER INTEGRITY STEP 5A: RUN TRIAL BALANCE REPORT FOR BALANCE SHEET ACCOUNTS STEP 5B: RUN TRIAL BALANCE REPORT FOR PROFIT & LOSS ACCOUNTS STEP 5C: IF A DIFFERENCE EXIST, CHECK BALANCE SHEET ITEMS FOR ALL ACCOUNTS STEP 6: CHECK NEXT YEAR S DATE (IF USING IRREGULAR PERIODS) STEP 7: GENERAL LEDGER ROLLOVER STEP 8: ENSURE ALL LEDGERS HAVE BEEN ROLLED OVER INTO THE NEW FINANCIAL YEAR AFTER THE ROLLOVER STEP 1: RUN GENERAL LEDGER INTEGRITY STEP 2: TRIAL BALANCE (BALANCE SHEET) STEP 3: ENTER NEXT YEAR S PERIOD CONTROL DATES (IF USING IRREGULAR PERIODS) STEP 4: RE-SUBMIT THE GL INTEGRITY INTO THE NIGHT SEQUENCE APPENDIX PRONTO YEAR END PROCESSING CHECKLIST SETUP OF THE FAVOURITES MENU (ALL MODULES AND FUNCTIONS) Scope Systems - End Of Year Procedure Page ii

5 Review Major Function Flags Review Major Function Flags Use the History Options (SYS M052) function to ensure the major function flags for history and data archive have been set according to the company s business process. Ensure the major function flags in the Amount of History Kept area are set appropriately as the history is automatically cleared based on the values set in these flags. Administration System Administration Major Function Flags History Options (SYS M052) Review the following major function flags in the Amount of History Kept area. History Options Flag Amount of History Kept: G/L Archive Transaction Control Customers Archive Transaction Control Options Available Specify the number of years to keep the archive G/L transactions. The end of year G/L housekeeping program removes the archived transactions according to the settings on this flag. 0 None to 9 years. This flag controls the storage of customer transactions after performing housekeeping functions. The following values are available: Scope Systems - End Of Year Procedure Page 3

6 Review Major Function Flags History Options Flag Suppliers Archive Transaction Control Sales Order Archive Control No. of Periods to Keep Sales Trans No. of Period to Keep Stock Trans Keep Stock Price Archive File Options Available 0 or Y Hold full details for 12 months. D E F G H N Hold full details for 24 months. Hold full details for 12 months. Hold full details for 3 years. Hold full details for 4 years. Hold full details indefinitely. Customers archive not held. To use Quarterly Open Item accounts or print prior period transactions on statements, this flag needs to be set to D, E, F, G or H. 1 Archive records held for 12 months. 2 Archive records held for 24 months. 7 Archive records held for 84 months (7 years). A B C D Keep full transaction history for 12 months. Keep full transaction history for 24 months. Keep full transaction history for 3 years. Keep full transaction history forever. When Withholding Tax Suppliers exist and this flag is set to any one of the SUMMARY types ('1' '2' or '7'), this flag is automatically changed to the equivalent DETAIL history type. 0 Sales orders not archived Number of months to keep archived sales orders based on invoice date. 99 Keep all sales orders, never delete. Months to hold sales history details before compression. Set this flag to zero when there is no cut-off date. Holds sales order transactions in the inventory movement s file. Always have a minimum of 1 month or 90 transactions plus the value entered for this flag; 2-9 (months) or Y (1 year). Blank or 0 Not archived. 1-9 Keep records for the specified number of years. Scope Systems - End Of Year Procedure Page 4

7 Following are the steps that need to be taken during the pre-rollover process. Step 1: Complete Postings to the Ledgers Complete all postings to the ledgers as required: Inventory Ledger; Customer Ledger; Supplier Ledger; Fixed Assets Ledger; and General Ledger. Inventory Ledger Processing Pre-Rollover Pre-Rollover Depending on the company s business process, perform the following tasks as required: Ensure that all inventory processing procedures are completed. Ensure that any end-of-year stock take procedures are completed. Customer Ledger Processing Depending on the company s business process, perform the following tasks as required: Ensure that all invoices are updated by running the Update Customer & General Ledger (SO T017) function. Ensure that all customer cash receipting is processed and posted for the month or year. Ensure that customer adjustment notes have been produced for tax. Ensure that the foreign exchange revaluation is posted to the General Ledger by running the Foreign Exchange Revaluation (AP T021) function. Ensure that you have accounted for the foreign exchange exposure. Supplier Ledger Processing Depending on the company s business process, perform the following tasks as required: Before posting to the Supplier Ledger, ensure that periodic payment details are correct. Use the Periodic Payment Maintenance (AP M012) function to maintain the periodic payment details. Ensure that the periodic payments for the month or year are processed by running the Periodic Payment Update (AP T035) function. Ensure that the foreign exchange revaluation is posted to the General Ledger by running the Foreign Exchange Revaluation (AP T021) function. Ensure that all supplier records are updated by running the Print/Update Remittance/Cheque (AP T041) function. Ensure that bank reconciliation is completed by running the functions within the Bank Reconciliation (AP X014) folder. Ensure that you have account for the foreign exchange exposure. Scope Systems - End Of Year Procedure Page 5

8 Pre-Rollover Fixed Assets Ledger Processing Depending on the company s business process, perform the following tasks as required: Ensure that the fixed assets records are correct. Use the Maintain Fixed Assets (FA M007) function to maintain fixed assets records. When a fixed asset record is set to a status other than Active, depreciation is not calculated. Ensure that the status for each fixed asset is set correctly for transactions to be processed. Ensure that all fixed asset transactions processing procedures are completed. Ensure all completed acquisitions are posted. Ensure all disposals and transfers are completed. Ensure book and tax depreciation is run and posted. General Ledger Processing Depending on the company s business process, perform the following tasks as required: Process all normal, standing and inter company journals. Ensure that the Balance Sheet Item field in the Maintain Ledger Account Details (GL M001) function is set to: N for all Profit and Loss accounts. Y for all Balance Sheet accounts. Scope Systems - End Of Year Procedure Page 6

9 Pre-Rollover Step 2: Backup Data and System Files A backup of the data and system files must be performed as the end-of-year rollover process cannot be reversed. Ensure that the backup is complete and verified. For assistance with the backup process contact your System Administrator. Tape Backup Test Company Backup Year End Company Backup Scope Systems - End Of Year Procedure Page 7

10 End of Year Procedures End of Year Procedures Inventory Step 1: Inventory Ledger Processing Depending on the company s business process, perform the following tasks as required: Ensure that all inventory processing procedures are completed. Ensure that any end-of-year stock take procedures are completed. Step 2: Lock Inventory Ledger Ensure that the Inventory ledger is locked by running the Maintain Ledger Locks (GL M149) function. Locking the ledger prevents transactions from being posted into the month which is being rolled. On the Maintain Ledger Locks screen, set the selected ledgers to 4 to lock out all users, so that no changes can be made to the Inventory ledger for the current month until rollover occurs. Step 3: Inventory Integrity Use the Inventory Integrity (INV M011) function to check the integrity of the Inventory Ledger and its associated files. Inventory Maintain Inventory Control Inventory Inventory Integrity (INV M011) Scope Systems - End Of Year Procedure Page 8

11 End of Year Procedures Step 4: Print the Final Inventory Valuation Report for the Year End Use the Inventory Valuation (INV R039) function to generate a report on the inventory values at the end of the last period or at current value. The inventory valuation report is helpful when performing a manual check of the inventory values. Inventory Inventory Reports Inventory Status Menu Inventory Valuation (INV R039) Scope Systems - End Of Year Procedure Page 9

12 End of Year Procedures Print the valuation report and the general ledger report on the last day of the year (as set in the period processing dates) showing the closing balance for any related inventory GL accounts. Step 5: Inventory Ledger Rollover Use the Inventory Ledger Rollover / EOP (INV M237) function to roll the Inventory Ledger into the new financial year. General Ledger Period End Processing Individual Ledger Archive Inventory Ledger Rollover / EOP (INV M237) Once the Inventory Ledger rollover is complete: All inventory balances are moved to the new financial year; Average monthly demand and days available are recalculated; and All inventory transactions for the period that was rolled over are cleared and archived. Scope Systems - End Of Year Procedure Page 10

13 End of Year Procedures Debtors Step 1: Customer Ledger Processing Depending on the company s business process, perform the following tasks as required: Ensure that all invoices are updated by running the Update Customer & General Ledger (SO T017) function. Ensure that all customer cash receipting is processed and posted for the month or year. Ensure that customer adjustment notes have been produced for tax. Ensure that the foreign exchange revaluation is posted to the General Ledger by running the Foreign Exchange Revaluation (AP T021) function. Step 2: Lock Accounts Receivable Ledger Ensure that the Accounts Receivable ledger is locked by running the Maintain Ledger Locks (GL M149) function. Locking the ledger prevents transactions from being posted into the month which is being rolled. On the Maintain Ledger Locks screen, set the selected ledgers to 4 to lock out all users, so that no changes can be made to the Accounts Receivable ledger for the current month until rollover occurs. Step 3: Customer Integrity Use the Customers Integrity (AR M176) function to check the integrity of the Customer Ledger and its associated files. Accounts Receivable Maintain Customer Account Details End of Period Functions Customers Integrity (AR M176) Scope Systems - End Of Year Procedure Page 11

14 End of Year Procedures Step 4a: Run the Customer Statements Produced for the Month/Year To ensure the ageing on the customer statements is correct, integrity checks must be completed. For further information on integrity checks refer to the End of Year Procedures Inventory section. Run the Customer Statement (AR R082) function after the integrities are finalised. Accounts Receivable AR Reports Customer Statements (AR R082) Step 4b: Run the End-of-Month Customer Reports Depending on the company s business process, run the functions within the Aged Customer Reports (AR X009) folder as required. Accounts Receivable AR Reports Aged Customer Reports (AR X009) Step 4c: Run End-Of-Month Sales Reports Depending on the company s business process, run the necessary functions within the Sales Reports (AR X026) folder as required. Accounts Receivable AR Reports Sales Reports (AR X026) Scope Systems - End Of Year Procedure Page 12

15 End of Year Procedures Most of the sales reports are set to run at current period, therefore the reports cannot be reprinted once the system is rolled. Step 5: Customer Ledger Rollover Use the Customers Archive/EOP (AR M350) function to roll the Customer Ledger into the new financial year. General Ledger Period End Processing Individual Ledger Archive Customers Archive/EOP (AR M350) Once the Customer Ledger rollover is complete: Fully paid transactions are archived; Balances on the customer master file are reset; and Ageing information is updated. Scope Systems - End Of Year Procedure Page 13

16 End of Year Procedures Creditors Step 1: Supplier Ledger Processing Depending on the company s business process, perform the following tasks as required: Before posting to the Supplier Ledger, ensure that periodic payment details are correct. Use the Periodic Payment Maintenance (AP M012) function to maintain the periodic payment details. Ensure that the periodic payments for the month or year are processed by running the Periodic Payment Update (AP T035) function. Ensure that the foreign exchange revaluation is posted to the General Ledger by running the Foreign Exchange Revaluation (AP T021) function. Ensure that all supplier records are updated by running the Print/Update Remittance/Cheque (AP T041) function. Ensure that bank reconciliation is completed by running the functions within the Bank Reconciliation (AP X014) folder. Step 2: Lock Accounts Payable Ledger Ensure that the Accounts Payable ledger is locked by running the Maintain Ledger Locks (GL M149) function. Locking the ledger prevents transactions from being posted into the month which is being rolled. On the Maintain Ledger Locks screen, set the selected ledgers to 4 to lock out all users, so that no changes can be made to the Accounts Payable ledger for the current month until rollover occurs. Scope Systems - End Of Year Procedure Page 14

17 Step 3: Suppliers Integrity End of Year Procedures Use the Suppliers Integrity (AP M041) function to check the integrity of the Supplier Ledger and its associated files. Accounts Payable Maintain Supplier Suppliers Integrity (AP M041) Step 4: Run Suppliers End-of-Month Reports Depending on the company s business process, run the necessary functions within the AP Reports (AP X018) folder as required. Accounts Payables AP Reports (AP X018) Step 5: Supplier Ledger Rollover Use the Suppliers Archive / EOP (AP M071) function to roll the Supplier Ledger into the new financial year. General Ledger Period End Processing Individual Ledger Archive Suppliers Archive / EOP (AP M071) Scope Systems - End Of Year Procedure Page 15

18 End of Year Procedures Once the Supplier Ledger rollover is complete: Fully paid transactions are archived; Balances on the supplier master file are reset; and Ageing information is updated. Scope Systems - End Of Year Procedure Page 16

19 End of Year Procedures Fixed Asset Running the fixed asset rollover is optional as the fixed asset register is rolled automatically when the General Ledger End of Period/Year (GL M164) function is run. For further information refer to the Rolling the General Ledger section. Step 1: Fixed Assets Ledger Processing Depending on the company s business process, perform the following tasks as required: Ensure that the fixed assets records are correct. Use the Maintain Fixed Assets (FA M007) function to maintain fixed assets records. When a fixed asset record is set to a status other than Active, depreciation is not calculated. Ensure that the status for each fixed asset is set correctly for transactions to be processed. Ensure that all fixed asset transactions processing procedures are completed. Ensure all completed acquisitions are posted. Ensure all disposals and transfers are completed. Ensure book and tax depreciation is run and posted. Step 2: Fixed Assets Integrity Use the Fixed Asset Integrity (FA M005) function to check the integrity of the Fixed Asset Ledger and its associated files. The cost, revaluation and provision accounts must be set to account type F in order for Fixed Asset Integrity to check if they match between the asset register and the General Ledger. Reconcile all cost and depreciation to the General Ledger. Fixed Asset Register Asset Administration Fixed Asset Integrity (FA M005) Scope Systems - End Of Year Procedure Page 17

20 End of Year Procedures Step 3: Run the Fixed Assets Reports Including Tax Reconciliation Reports Depending on the company s business process, run the functions within the Fixed Asset Report (FA X006) folder as required. Fixed Assets Register Fixed Asset Report (FA X006) Some reports cannot be re-run after the end-of-year rollover. For full details refer to the Fixed Assets reference manual. Step 4: Fixed Asset Rollover Before proceeding with the fixed asset rollover, ensure that tax depreciation is posted. Use the Asset End of Year (FA M039) function to transfer current year depreciation to accumulated depreciation, which becomes the opening balance for the next financial year. General Ledger Period End Processing Individual Ledger Archive Asset End of Year (FA M039) Step 5: Purge All Disposed Assets (Optional/Not Recommended) Do not perform this step if the company is required to report on disposed assets. Year end is an opportune time to purge disposed assets, however, once disposed assets are purged, they cannot be re-instated into the system. Use the Purge Disposed Assets (FA M028) function to list all the assets that have been disposed of prior to the date entered in the Purge Date field. These assets and its histories are removed from the system. General Ledger Period End Processing Year End Functions Purge Disposed Assets (FA M028) Scope Systems - End Of Year Procedure Page 18

21 End of Year Procedures To purge last year s disposed assets, the General Ledger roll must be completed. For full details refer to the General Ledger reference manual. Scope Systems - End Of Year Procedure Page 19

22 End of Year Procedures General Ledger Step 1: General Ledger Processing Depending on the company s business process, perform the following tasks as required: Process all normal, standing and inter company journals. Step 2: General Ledger Appropriation Account (GLAPP) When running inter-company postings, ensure that the special account GLAPP (General Ledger Appropriation) is set for all companies in the Special Accounts Maintenance (GL M013) function Step 3: Lock General Ledger Ensure that the General ledger is locked by running the Maintain Ledger Locks (GL M149) function. Locking the ledger prevents transactions from being posted into the month which is being rolled. On the Maintain Ledger Locks screen, set the selected ledgers to 4 to lock out all users, so that no changes can be made to the General ledger for the current month until rollover occurs. Step 4: General Ledger Integrity Use the General Ledger Integrity (GL M011) function to check the integrity of the General Ledger records and their associated files. General Ledger Period End Processing File Integrity General Ledger Integrity (GL M011) Scope Systems - End Of Year Procedure Page 20

23 End of Year Procedures When using inter-company postings, check the company balances by setting the Check Company Z Imbalances field to Y. When running the general ledger integrity in the night sequence and there are corrected errors reported, the reported financials may now be different. Ensure that Check History Balances is set to N. Step 5a: Run Trial Balance Report for Balance Sheet Accounts When running multiple companies in one dataset, sub-total the report by company. Run the Trial Balance by Account Movements (GL R023) function for each individual company. The objective of running these reports is to ensure that all Profit and Loss accounts are correctly set up as Profit and Loss accounts in the Chart of Accounts. When the total profit on this standard Profit and Loss report does not equal the reported profit, one or more accounts may not be set up correctly and should be reviewed. General Ledger GL Reports Trial Balance & Budget Variances Trial Balance by Account Movements (GL R023) Scope Systems - End Of Year Procedure Page 21

24 End of Year Procedures The balance of each company is the amount transferred to the retained earnings account for that company. Run a balance sheet and check the total amount. Run a full trial balance ensuring the net amount is zero (which means the GL is in balance). Step 5b: Run Trial Balance Report for Profit & Loss Accounts When running multiple companies in one dataset, sub-total the report by company. Run the Trial Balance by Account Movements (GL R023) function for each individual company. The objective of running these reports is to ensure that all Profit and Loss accounts are correctly set up as Profit and Loss accounts in the Chart of Accounts. When the total profit on this standard Profit and Loss report does not equal the reported profit, one or more accounts may not be set up correctly and should be reviewed. General Ledger GL Reports Trial Balance & Budget Variances Trial Balance by Account Movements (GL R023) Scope Systems - End Of Year Procedure Page 22

25 End of Year Procedures The balance of each company is the amount transferred to the retained earnings account for that company. Run a balance sheet and check the total amount. Run a full trial balance ensuring the net amount is zero (which means the GL is in balance). Step 5c: If a difference exist, check Balance Sheet Items for all Accounts Ensure that the Balance Sheet Item field in the Maintain Ledger Account Details (GL M001) function is set to: N for all Profit and Loss accounts. Y for all Balance Sheet accounts. Scope Systems - End Of Year Procedure Page 23

26 End of Year Procedures Step 6: Check Next Year s Date (if using Irregular periods) When using irregular periods, next year s date must be set correctly before rolling. The dates on the Period Processing Dates screen should already have been set, therefore should not be changed. When next year s dates are not correct contact your System Administrator or your local Pronto Support Centre before rolling the General Ledger. Administration System Administration Table Maintenance Menu Period Processing Dates (SYS M137) To check next year s dates 1. Run the Period Processing Dates (SYS M137) function. 2. Select the PERIOD DATES mode. 3. On the Period Processing Dates screen, select the NEXT YEAR mode. Next year dates are displayed on the screen. Scope Systems - End Of Year Procedure Page 24

27 End of Year Procedures Step 7: General Ledger Rollover Before proceeding with the General Ledger rollover process, all users must log off from PRONTO-Xi. Should the roll fail, read the screen or error message and take a screen print. The roll should restart from where it failed when the General Ledger End of Period/Year (GL M164) function is re-run. Use the General Ledger End of Period/Year (GL M164) function to: Roll the Fixed Asset Ledger; Transfer the balance of all Profit and Loss accounts to the appropriate GLAPP special account; Create a Brought Forward (BF) transaction for all balance sheet accounts; Transfer the current year s transactions to an archive file; and Reset period control dates. General Ledger Period End Processing Individual Ledger Archive General Ledger End of Period/Year (GL M164) Scope Systems - End Of Year Procedure Page 25

28 End of Year Procedures Step 8: Ensure All Ledgers have been rolled over into the new Financial Year General Ledger Period End Processing Ledger Status (GL.E002) Scope Systems - End Of Year Procedure Page 26

29 After rolling the ledgers the following steps must be taken. Step 1: Run General Ledger Integrity After the Rollover After the Rollover Run the General Ledger Integrity (GL M011) function in REPORT AND CORRECT mode. Ensure there are no uncorrected or correction failed errors. When using inter-company postings check company balances. General Ledger Period End Processing File Integrity General Ledger Integrity (GL M011) Scope Systems - End Of Year Procedure Page 27

30 Step 2: Trial Balance (Balance Sheet) After the Rollover Run the Trial Balance by Account Movements (GL R023) function to check the new balance of each retained earnings account. The new balance should be equal to the retained earnings balance from last year (which is the year just rolled) plus last year s profit. Ensure that the total of the opening balance column of the Profit and Loss account is zero. Spot check the opening balance of individual balance sheet accounts. These should be equal to last year s closing balance. General Ledger GL Reports Trial Balance & Budget Variances Trial Balance by Account Movements (GL R023) Scope Systems - End Of Year Procedure Page 28

31 After the Rollover Step 3: Enter Next Year s Period Control Dates (If using Irregular periods) When running irregular periods, use the Period Processing Dates (SYS M137) function to enter next year s period control dates. Administration System Administration Table Maintenance Menu Period Processing Dates (SYS M137) To enter next year s period control dates 1. Run the Period Processing Dates (SYS M137) function. 2. On the Period Processing Dates screen, ensure the Type field is blank when running irregular periods. 3. Select the PERIOD DATES mode. 4. On the Period Processing Dates screen, select the NEXT YEAR mode. Scope Systems - End Of Year Procedure Page 29

32 After the Rollover 5. Enter the processing dates and click OK. The entered dates are now next year s period control dates in PRONTO-Xi. Scope Systems - End Of Year Procedure Page 30

33 After the Rollover Step 4: Re-Submit the GL Integrity into the Night Sequence The parameter for the General Ledger integrity contains dates and a financial year; therefore it must be resubmitted into the night sequence. Once this is done, the old integrity is deleted from the night sequence. When using inter-company postings, check company balances by entering Y in the Check Company Z Imbalances field. ME NU PATH General Ledger Period End Processing File Integrity General Ledger Integrity (GL M011) Scope Systems - End Of Year Procedure Page 31

34 Appendix APPENDIX PRONTO Year End Processing Checklist Review Major Function Flags - History Options Complete Postings to Ledgers Inventory Ledger Customers Ledger Suppliers Ledger Fixed Asset Ledger General Ledger - Management Accounts General Ledger - Audit Adjustments Suggested Target Date 23-JUN JUN JUL JUL JUL JUL AUG-10 Complete INVENTORY MODULE Complete Postings Backup data Run Integrity Lock Ledger Run Reports Print and Save Copy of Reports for Auditors Roll the Ledger Check the Ledger Status Suggested Target Date 30-JUN JUN JUL JUL JUL JUL JUL JUL-10 Complete DEBTORS LEDGER Complete Postings Backup data Run Integrity Lock Ledger Run Reports Print and Save Copy of Reports for Auditors Roll the Ledger Check the Ledger Status Suggested Target Date 03-JUL JUL JUL JUL JUL JUL JUL JUL-10 Complete CREDITORS LEDGER Complete Postings Backup data Run Integrity Lock Ledger Run Reports Print and Save Copy of Reports for Auditors Roll the Ledger Check the Ledger Status Suggested Target Date 07-JUL JUL JUL JUL JUL JUL JUL JUL-10 Complete Scope Systems - End Of Year Procedure Page 32

35 Appendix GENERAL LEDGER MANAGEMENT ACCOUNTS Complete Postings Check Special Account GLAPP Backup data Run Integrity Lock Ledger Run Reports Print and Save Copy of Reports for Auditors Suggested Target Date 15-Jul Jul Jul Jul Jul Jul Jul-10 Complete FINAL ACCOUNTS Receive Audit Adjustments Unlock the Ledger Complete Postings Lock Ledger Backup data Run Integrity Ensure the Ledger is Locked Purge Disposed Assets ( OPTIONAL ) Run Trial Balance for both B/S and P&L and Reconcile to Zero Run Trial Balance for P&L and Reconcile to Reported Profit/Loss Run Reports Print and Save Copy of Reports for Auditors Check Next Years Date in Period Processing Dates [For IRREGULAR Period users only] Roll the Ledger Check the Ledger Status Suggested Target Date 15-Aug Aug Aug Aug Aug Aug Aug Aug Aug Aug Aug Aug Aug Aug Aug-10 Complete POST GL ROLLOVER Run a GL Integrity - Check All Clear Run Trial Balance for Balance Sheet Only and Check Op/Closing Bals Enter Next Years Date in Period Processing Dates [For IRREGULAR Period users only] Re-Submit GL Integrity into Night Sequence Suggested Target Date 16-Aug Aug Aug Jun-10 Complete Scope Systems - End Of Year Procedure Page 33

36 Appendix Setup of the Favourites Menu (all modules and functions) Scope Systems - End Of Year Procedure Page 34