Year end accounting procedures

If you have not yet done so, now is a good time to check ALL time sensitive tables within Enrich.

Tables to Review

All Enrich Users

The Accounting Period table should be reviewed to be sure that the new calendar year has been set up (future years can be entered).

Path: EMMS | Administration | Tables | Accounting | Accounting Periods

The copy function can be used to copy an entire year.

Inventory Reconciliation

Please see the section How to Reconcile Inventory.

Clients Using Customer Calendars within Lease/Rental

Customer calendars should be reviewed to be sure that the accounting periods have been set up for the customer’s new fiscal year.

Path: Lease Rental | Customer | Edit Customer | Calendar | Change

The customer calendar is intended to be used when your customer’s fiscal year does not coincide with your fiscal year.

Clients Using our Accounting Extraction or Infinium Interface Programs

If you use our accounting extraction program or our interface to the Infinium program, remember to define the subsystem entry for each period.

The GL extraction checks the W (work order) subsystem to pick up a Hold Open Date. The Hold Open Date is used to decide whether transactions approved after the month-end but finished (closed) during the accounting period can still be posted to that period.

Clients Using our Enrich Financials

Reference File 5066 – Period Names – GL Report Writer must be kept up to date for each new year.

After your year end is closed, we suggest you update:

Ref File 0166 for the Trial Balance Inquiry Defaults and
Ref File 5048 GL R/E Accounts & Inquiry Defaults.

Some of you may be using reference file 0094 (Begin & End Dates for Fiscal Periods) to define your year/period. IF fiscal year codes in reference file 5005 (Company Information) is set to 0, you need to make sure the year/period is defined in ref 0094.

Balance Sheet Accounts

Balance sheet accounts for the new year need to be updated manually by running the option in the General Ledger to Replace Beginning Balances. This option can be run as many times as needed. The Ending period does not need to be closed prior to running this option.

Path: Financials | General Ledger | On Demand Processing | Replace Beginning Balances

Select the new year to replace the balances into (e.g. 18).

Financial Statements in BOA

Financial statements in BOA currently only run over 1 year and are updated in the nightly programs. The year for the report is controlled in reference file 5755 – GL Report Writer Batch Jobs.

Path: Financials | Work Bench | Reference File Maintenance | Maintain Ref File Data | select category 5755

Clients Using ETK

If you are using our Payroll function, you should review your Pay Periods table.

Path: ETK | Administration | Tables | Payroll | Pay Periods

If you are using our Calendar function within ETK, review the following tables:

Corporate Calendar
Path: ETK | Payroll | Corporate Calendar
Employee Calendar
Path: ETK | Payroll | Employees | sub-option Calendar

FAQs

What if I enter the wrong dates on invoices?

For example, I enter 12/31/14 instead of 12/31/13 or 1/07/13 instead of 1/07/14, etc.

The best thing for you to do:

Go ahead and post the invoice through the AR interface.
The invoice will likely get stuck in AR | On Demand Processing | Special Processes | Batch Invoice Maintenance.
Select the option to post with errors and then do the batch interface post again.
Once you see it in AR | On Line Inquiry, you can change the date via AR | On Demand Processing | Maintain Customer Documents. This will correct the year, period, and date in all the correct files.

Note: Only users authorized in reference file category 0129 - A/R Security Functions will be able to change the dates.

If you have any questions, please contact our Help Desk at 1-403-297-1682 or email help@richer.ca.

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