Osas General Ledger Fiscal Year End Procedures 2004

1. Post all entries to General Ledger from other Open Systems modules installed (SO/AR PO/AP IN).

2. Post to Master in General Ledger for all periods.

3. Backup Data

4. Setup General Ledger for 2005

General Ledger

Periodic Processing

Create Last Years Data

************************** Create Last-Year Data ****************************

* *

* Have You Backed Up Your Current-Year Files? YES *

* *

* Reset Current-Year Journal Entry Number to 1? YES *

* *

* Retained Earnings Account For Company x ? ????? *

* *

* Copy Next-Year Budget to Current-Year Budget? NO *

* *

* Do You Want to Zero Next-Year Budget Balances? NO *

* *

* *

*** Company H ****************************************************************

x=Company Id ?????=Retained Earnings Account

5. Update or Create period table for 2005 in Resource Manager

Resource Manager

Application Setup

Period Setup

Current fiscal year 2005 – Number of periods 13

Press Page Down and enter the new period begin

and end dates in 1 to 12.

Enter the last day of the year for period 13 begin

and end dates. Press enter when message appears in period 13 begin date.

OSAS General Ledger Using Last Year’s Data

1. After Creating Last year files you may switch between years by pressing F9 at the General Ledger main menu.

1. When Posting Accounts Payable, Accounts Receivable or Payroll – Select Current Year to post the current year on your system and select Last Year to post the previous year. You may have multiple years open at the same time.

2. Do not mix check runs of current year and prior year transactions in accounts payable. You may post in either year, but be sure to enter and post each years transactions in a separate run.

4. After posting transactions in a previous year use the “UPDATE CURRENT YEAR” in periodic processing in the prior year to update beginning balances and prior year comparison balances into the current year file.

5. DO NOT CLOSE LAST YEAR.