Process for Doing a Year End Close by Allison

Help Desk Instructions for Year End Close

When you are ready to close your year, go to:

Work in General Ledger > Year End Close.

If you get the panel below (Figure 1), it does not mean that someone else has kicked off the Year End Close program.

It does mean that someone else has gone to this same panel and "X’d" out of the panel, rather than clicking Cancel to exit the panel. Year End Close is the only panel in General Ledger that requires you to use the Cancel button to exit, without running the function. This is to ensure that two users will not go to the function and run year end close at the same time.

So, should you get this panel, call the Help Desk and we can run a quick query to tell you what user has locked up the panel.
That same user will have to return to the panel and click Cancel to free it up for you to run Year End Close.

Figure 1

Once the panel is "unlocked", click Year End Close again, and the panel below (Figure 2) appears.

Figure 2

The panel displays

- all of your Organizations,
- the current balance sheet year for each organization,
- what the new balance sheet year will be after running Year End Close,
- and whether there are any unposted journal vouchers that need to be either posted or deleted before the year end will process.
Remember, this journal voucher count could include statistical JVs.

To find these JVs,

Go to the Journal Voucher list panel and change the JV status column to "incomplete."
Click Enter.
Any incomplete JVs appear.
Do the same for the "entered" JV status.
Entered and Incomplete Journal vouchers will have to be posted or deleted before you can run the Year End Close process.

The Figure 2 panel will also tell you if a calendar needs to be loaded for the organizations.

When you leave this panel to take care of the unposted JVs and to add your calendar, be sure to click Cancel to exit the panel.

Once you have cleared these JVs and added your calendar, come back to the panel (Figure 2).
The Unposted JVs Exist column should be blank and the Next Year Calendar column should also be blank.

At this time you can put a check mark next to the Organizations you want to close.
Then, click Submit.

You will get a message on your panel that tells you the process has been submitted, and instructs you to go to Work in Administration > Open Batch Jobs if you want to track the running of the Year End Close.

The job runs pretty quickly, so if you go to Open Batch Jobs and it is not there, that means the job has finished running.

The year end close job calculates your retained earnings and adjusts your retained earnings account balance to reflect the new retained earnings balance. It does not actually post a JV -- it just changes the balance.

Next, go to the Financial Report Writer and click Activate Reporting Year. This step creates all the period zero balances for your accounts, and rolls the balances on your balance sheet.

Note: If any error messages appear in the Open Batch Jobs list after you run year end close, click View Error Messages. If you have selected to close an organization that does not have at least one journal voucher with at least one JV line to a P&L account, your Year End Close will not work for that organization.

You will need to decide if you want to post a JV with perhaps $1.00 debit and credit to a P&L account, so the Year End Close will then work for that organization; or if you just want to leave inactive organizations alone.

Year End Close is now complete and you are ready to report on your new year.