⚠️ Warning: Take a database backup and ensure all users are logged out before starting this process.
Back up the database.
Ensure all users are logged out.
Then follow these steps:
Click System.
Click Options.
Click System Control Options.
Click Ledger Defaults.
Update the Current Financial Year started field.
Update the Current Year field.
Once this has been amended change the periods on the right ensuring they match with what’s expected.
When this has been done for the current period click the current year drop-down highlighted in yellow and change this to next. Now ensure the dates for next year are correct.
We can now period end the nominal ledger, moving it into period 13:
Click Financials.
Click Period End (Period 12) and run a period end.
Dimensions rolls into period 13 automatically.
On the Financials tab, click Period End (Period 13).
Click Advance working period.
Once this has been done All users who do not have the access will be posting into N1 and only users with access can post in period 13 for auditing. Dimensions will show on the ledger that it’s still in period 13 until a full year-end is complete.
When looking at the Ledger Defaults in System Control Options, the user will see that the working period is the period everyone is posting into but can also see that the nominal is still in 13 until a year-end is done after any adjustments have been posted.
After the full year-end is done, the user can then change the current financial year start date back to being a day forward if preferred.