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Evo-ERP and DBA Classic >> Accounting >> Year end...but can I wait to do AM-A?
http://www.istechforum.com/YaBB.pl?num=1080847658

Message started by Laura on 04/01/04 at 11:27:38

Title: Year end...but can I wait to do AM-A?
Post by Laura on 04/01/04 at 11:27:38

I am posting this so it will go to the archives....because I wont remember next year. Thanks for bearing with me.

Laura asked: Our fiscal year ended yesterday. Can I wait and do AM-A later. I still have some things I want to do. We will not be doing any new year GL. Posting for a few days. In the past I have switched it back and forth until I have my year ended.

Lynn answered:
Go ahead and even do AM-B and post the in new year and you can do AM-A later.

Title: Re: Year end...but can I wait to do AM-A?
Post by Lynn Pantic on 04/01/04 at 13:35:10

To clarify further, since March 31 seems to be year end for a lot of people...

AM-B opens the new year for posting in GL-O. It closes out Income and Expense accounts to Retained Earnings, rolls the balances forward for GL-A and Financial Statements and advances the Fiscal Year date in AD-A. It DOES NOT mean you have to be finished all posting and processing for last year. Any further posting to last year will correctly post to 1 year past and if the posting happens to be to an income or expense account, the GL-O program will correctly make a closing entry to Retained Earnings as well.

When you want to prevent posting to last year (or any prior period) use AM-A to set the GL Close Date to the FIRST DAY of the period you want to enbable posting for. So to prevent any transactions posting to a year ended March 31, 2004, set the close date to April 1, 2004. If at some future date you need to make an adjustment back into last year, use AM-A to set the date back, make the adjustment and post it, then use AM-A to reset the date again. This can be done as often as needed.