Ensure a backup has been taken of the database
All users then need to be logged out
Please navigate to the following:
Click on System.
Select Options.
Click on the system control options.
Finally select Ledger Defaults.
Amend the "Current Financial Year started: ________" field.
Amend 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 on Financials.
Select “Period End (Period 12)” and carry out a Period End on period 12.
This will now roll into period 13 automatically.
Now on the financials tab click on period end (period 13) – A similar screen will load up.
Now ensure to 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.