Clearing any unprocessed transactions at a year end

Summary

This article explains how to deal with unprocessed transactions at your financial year end. These often come from items being posted after a month is closed down.

More Information

The symptom of this is when you select your year end option the system shows you a screen something like this:


                     <<<<<< WARNING >>>>>>

End of Year aborted : All previous years data must be processed before
                      proceeding.  Data for the previous year has been
                      found in the following ...

                      Sales Ledger
                      Purchase Ledger
                      Nominal Ledger

                      Please perform  normal period end  procedures on
                      the  appropriate  ledgers  as  required.  It  is
                      important  to close  the  Nominal  Ledger  after
                      both  the  Sales & Purchase  have been Completed
                      as journal entries may be created.

To see what needs to be processed and what steps you are advised to take you may print an "Unprocessed Transaction Report" :

This could be a very long report so we advise you to press <Alt+P> and select your PDF printer or Print to File option followed by <F2> to print the report.

Actions to Take

Your report will highlight areas of unprocessed data. Typically these are:

Print a Sales Daybook
Run the Update Nominal from Sales
Print a Purchase Daybook
Run the Update Nominal from Purchase
Run the Audit Months Before a Given Date Report
Run the Profit & Loss Audit
Run the Balance Sheet Audit

To ensure all data is processed please follow all of the steps listed below, in order, as they are written.

Financial Period Check

Go to " Systems\Reports & Settings Set New Financial Period".

Check the Financial Period is set to the final month of the year. If it is not, move the arrows to point at the last month of the year and press <Enter> to set the period.

Print a Sales Daybook & Update Nominal

Go to " Systems\Accounts Sales Ledger Daybook Listing Print Daybook".

Make sure "Update Nominal" is set to 'Yes'
The date range should be for the whole Financial Year.
Click [Print] and press [Accept] when complete.
Repeat this process but this time with "Update Nominal" set to 'No'.
The date range should remain as for the whole Financial Year.
Click [Print] and press [Accept] when complete.

Run the Update Nominal from Sales Ledger

Go to " Systems\Accounts Sales Ledger Maintenance Options Nominal Ledger Update".

The system will warn you that it is not advised to update this way but just press [Yes] to continue.

Print a Purchase Daybook & Update Nominal

Go to " Systems\Accounts Purchase Ledger Daybook Listing Print Daybook".

Make sure "Update Nominal" is set to 'Yes'
The date range should be for the whole Financial Year.
Click [Print] and press [Accept] when complete.
Repeat this process but this time with "Update Nominal" set to 'No'.
The date range should remain as for the whole Financial Year.
Click [Print] and press [Accept] when complete.

Run the Update Nominal from Purchase

Go to " Systems\Accounts Purchase Ledger Maintenance Options Nominal Ledger Update".

The system will warn you that it is not advised to update this way but just press [Yes] to continue.

Run the Audit Months Before a Given Date Report

Go to " Systems\Reports & Settings Reports Monthly Audit & Cashbook Audit Months Before a Given Date".

Enter the month and year of the first month of the new financial year, i.e. if you are clearing down financial year ending December 2018, enter '01/19'.
Accept when complete.

Run the Profit & Loss Audit

Go to " Systems\Accounts Nominal Ledger Profit & Loss Change Report Range".

Change the start date to be the start of your financial year.
Change the end date to be the last day of the financial year that you are trying to close.
- Press <Esc> to exit this option.
Firstly choose [Run Profit & Loss Report] as this will give you a print for the whole year.
Secondly choose [Audit Trail & Cleardown] and press [Accept] when complete.

Run the Balance Sheet Audit

The Balance Sheet audit report CANNOT be run for a specific period of time like the Profit and Loss audit.

Go to " Systems\Accounts Nominal Ledger Balance Sheet"

Select [Balance Sheet] for an updated print as at the year end.
Followed by [Audit Trail & Cleardown]
Press [Accept] when complete.

Finishing Off

Please be aware that you cannot post transactions into a closed financial year. If you need to post year end adjustments you will need to repeat the above steps once you have made your adjustments.

After carrying out the necessary processes from the list above, go back and try the Year End option again. You should simply get the message :

Current Financial Year is 01/<start month>/<year> to 31/<last month>/<year>. 

Continue (Y/N)".

STOP: Check you have all the reports you need before closing the year. Key reports would be your Aged Debtors & Aged Creditors and Trial Balance as at the year end. Please follow advice in this article for how to produce these reports

If you need to run any further reports press [No] to exit else choose [Yes].

Clearing any unprocessed transactions at a year end

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