YEAR END

SOLVED

hello,

my year end just came, and the system doesn't allow my to move to next calendar month etc..

I was searching about the procedures but it sais that in order for me to move to a next session date  I need to enroll in a new fiscal year

which I can not, for I have invoices to enter, reconciliations,  payroll entries to make etc .. I am not ready to go to next calendar year ..  until the middle of the month ( I hope so...) now I have to make payments ( cut cheques etc..) so

what can I do ?? 

thank You !

Parents
  • 0
    verified answer

    There are 2 things you can do. One is to note your last JE nbr  and then do a 'Save As' renaming it to Company Name JE??? B4 New Year. Then the 2nd thing to do is to do a backup of new company using same name. Now go back into your usual company file and move the date ahead to the new year. A box will ask if you wish to clear data so click on 'No' for that as you do not want to clear out any data. Then check your data integrity to ensure it is OK (sometimes you will get a data inconsistency aster rolling into new year so if that happens just restore backup and start over again).

    Now you can move into the next month and post into new year but the great thing is that you can also post into previous year! You will get a message each time when posting with previous year dates that this will affect your Fiscal Year but that is ok. Once you have completed everything for the previous year and ready to send to accountant then you can go into Set-up, Setting, Company, System, and tick the box for "do not allow transactions date before' and enter the first day of the New Year. That way you won't accidentally post into the prev year since the accountant now has it for year end filing.

  • 0 in reply to Smith and Co

    Thank You so much !!

    now, I have checked my data integrity and states that there is a discrepancy. It shows and asterisk besides my vacations pay balance vs my vac pay owed - than acct rec files matched - data inconsistencies have been detected -  what is that mean ?? how can I solve that ?

    thank You again :)

  • 0 in reply to SC@bell

    Hi Sc@bell,

    You can follow the link written below to access the knowledge base article for your issue.

    How to solve "Data inconsistencies have been detected"?

    In your case, the incsonsistency is between your vacation payable balanace and vacation owed.  You will have to go to unlink the linked account of Vacation Payagel in Setup, Settings, Payroll, Linked Accounts, Income.

    Please make a backup before you follow the steps in the article.

    Hope this helps

  • 0 in reply to SC@bell

    Keith gave instructions below but also check your 'Save As' file that you creased as B4 New Year  and see if there was a data integrity in there as well. If you are not in habit of checking your data integrity that may have already been there prior to moving into new year. If so do another 'Save As' called something like To Correct Data Integrity and do the corrections as per Keith. If that works then do another Save As to the B4 New Year company (yes, it will be overwritten and that's ok) then another backup file (but get rid of the first backup file you did since that has the data inconsistencies in it and you never want to use it) and then do a 'save as' to overwrite your usual company files that you normally use. Then do the rollover into the new year and verity data intergrity. Hope this didn't sound too confusing?

  • 0 in reply to Smith and Co

    Great !! I wonder if I had move to the next year without checking data before... this is the first time I will make it happened ...is there any problem with my balances ??  I know the problem is in my vacations, ...could it be that it was set up wrong? how to correct that ?  thank you again ..

  • 0 in reply to SC@bell

    Yes, you will need to go back into your data files that you created prior to moving into new year. If there is a data inconsistency in the old year then you need to correct that before moving into the new year. How much are you out by - what is the difference between vac pay balance and vac pay owed? Is vac pay balance higher or lower than vac pay owed?

  • 0 in reply to Smith and Co

    hi, going back to this topic ,... I am quite confuse with this

    my integrity summary states:  vac pay balance ( this amount comes from my payables and I can see it on my trial balance ) however, Vac pay owed: I can not find this amount in my trial balance , so I am  not sure where it comes from ? my vac payable is less than Vac Owed for over $ 13TH ...what should I do ? where to go to find this amounts ??

    thanks

  • 0 in reply to SC@bell

    Vac Pay Owed is your Vac Pay Payable on your trial balance - it is what the company owes the employees. When you pay the employee their vac pay then the Vac Pay on Trial Balance is reduced by that amount and wages is increased by same amount. If you were to run a TB at today's date and run a calculator total on all of your employees vac pay owed it will come out to same total.

  • 0 in reply to Smith and Co

    Sorry - just reread your question. I would suggest running an employee report from Jan1 to current showing the vac pay earned and vac pay paid and also running the vac pay payable general ledger. Hilite the amounts showing on employee report against vac pay report and see where the differences are. If that is correct then try same reports but for previous year. It sounds like someone may have unlinked the vac pay account to payroll somewhere along the way. Hopefully you will see a pattern develop and can correct it.

Reply
  • 0 in reply to Smith and Co

    Sorry - just reread your question. I would suggest running an employee report from Jan1 to current showing the vac pay earned and vac pay paid and also running the vac pay payable general ledger. Hilite the amounts showing on employee report against vac pay report and see where the differences are. If that is correct then try same reports but for previous year. It sounds like someone may have unlinked the vac pay account to payroll somewhere along the way. Hopefully you will see a pattern develop and can correct it.

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