GL0715 - APPLY ADJUSTMENTS FROM LAST YEAR TO BEGINNING BALANCE and LAST
  YEAR ACTIVITY FIELDS OF THIS YEAR IN GENERAL LEDGER

GENERAL DESCRIPTION:

This feature in the General Ledger system allows you to keep a copy of the last year’s files in an open status (OPEN LAST YEAR FILES) on your system, even after you perform the Year End routine, and continue working on the new years books. 

When the final adjusting figures for last year are ready, you can post them to the OPEN LAST YEAR files and then run the GL0715 procedure to apply those adjustments to the new year’s beginning balances and last year’s period activity.  The new financial reports run on the current year will then reflect those adjustments to last year.

From the OPEN LAST YEAR files you can reprint last year financial statements and detail transaction reports as needed.  These new reports will reflect the adjustments entered.

Note that the YTD GENERAL LEDGER report includes both open and closed periods of the current year.  This means when you print the report with the final period open, the details from that period will be included on the Year to Date report.

You should  never close the last period of the year on the OPEN LAST YEAR files so GL0715 can be rerun as needed. GL0715 may be run multiple times as long as the Last Year files are still on the system.
 

PREPARATION:

To use GL0715 it is necessary to prepare by taking the optional step in the General Ledger Year End Check List to run the GL0710 procedure.  This is the step that sets up a new file set for selected G/L files to be used later.  

THIS MUST BE RUN PRIOR TO CLOSING THE LAST PERIOD OF THE YEAR!

1.         Since you will be nearly doubling the size of your G/L files, ample disk space is an obvious requirement in order to utilize this feature.  If you are not sure you have enough space available on your hard disk, call Customer Support for assistance in this evaluation.

2.         When the final period of the year is ready to be closed, but BEFORE running the Period End Process, run the GL0710 procedure.  From the bottom of the BOMGL1 menu, type GL0710 and press Enter.

3.         The following selection screen will appear:

MULT-COMPANY SYSTEMS:  Enter your current back office file prefix in the FROM FILE field.  For the TO FILE field, create a new three character file prefix that is not currently in use. The code must begin with A through Z and the last two characters may be alpha or numeric.  You may want to use the year for the last two characters.  (i.e.: current prefix is WYN, possible 2000 TO FILE PREFIX of  L00)

SINGLE COMPANY SYSTEMS:  Enter your current back office file prefix in the FROM FILE field.  For the TO FILE field, type the letter “P” followed by the last two numbers of the year being closed.  For example, P00 for year 2000 or P01 for 2001.

BOTH SINGLE & MULTI-CO SYSTEMS:  After typing in both prefix names, press F1 to continue.  All G/L and S/L files will be copied to the new “TO FILE PREFIX” you specified.

4.         MULTI-COMPANY SYSTEMS ONLY:  Next, a new company access number will need to be set up to access the OPEN LAST YEAR files. 

Only if you are on a Multi-Company system:

• This is done via the SYSTEM Utilities menu, Option 2- MAINTAIN COMPANY CODES. Type in an currently unused three digit company number which will be used to access your “Open Last Year” files, then press ENTER

• Type the company name in the COMPANY-NAME field, followed by the year (ie: “2000”)

• Type the three character prefix used in step 3 above (TO FILE PREFIX) in the FILE PREFIX field.  Press F1 to accept & F7 to return to the menu.

• Next, set up Employee/Menu access to this new company number for only those employees needing access to the Last Year G/L.   Give them ONLY G/L and SysUtility access.  This is done via SYSTEM Utilities menu, Option 3-MAINTAIN EMPLOYEE ACCESS CODE.  Type the employee’s number and the new company number and press ENTER.

• On screen-2, type “Y” in the access fields for GENERAL LEDGER and SYSTEM UTILITIES; type “N” in all other access fields.  Press F1 to accept and F7 to return to the menu.

• Upon completion of the above steps, you should be able to select the GENERAL LEDGER menu with the OPEN LAST YEAR company number. 

  5.         SINGLE COMPANY SYSTEMS ONLY:  For each employee that should have access to the OPEN LAST YEAR files, update their EMPLOYEE RECORD from menu BOSSY1 (option 1).  Place the letter “Y” in the field titled “ACCESS PRIOR YEARS”.

  ACCESS THE “OPEN LAST YEAR” FILES

Single company systems:            Use the procdure GLPRIOR.  From the BOMGL1 menu, type GLPRIOR and press Enter.  Type the employee number and prior year number (00 for year 2000) and press F1.  To return to the current year files, just type 24 to return to the main CSS BACK OFFICE menu.

Multi-company systems:              From the main CSS Back Office menu, select #5 for General Ledger.  In the COMPANY # field, enter the company number assigned to the OPEN LAST YEAR files from step 4 above.  To return to the current year files, just type 24 to return to the main CSS BACK OFFICE menu.

POSTING ADJUSTMENTS TO OPEN LAST YEAR FILES 

• Ensure you are on the BOMGL1 menu and on the OPEN LAST YEAR files.

• Use options 1 through 3 to Enter, Edit and Post the transactions as you normally would. 

• Prior period (Source code 99) and Beginning balance (Source code 98) adjustments may also be used.
  

  GL0715 - Apply Adjustments

Upon completion of the adjusting entries you are ready to run GL0715.  This is done by typing the command GL0715 at the bottom of BOMGL1 menu.  The screen will request the following information.  Key the appropriate responses and press F1 to continue. 

• GL0715 may be run multiple times if additional adjustments are needed. 

• Upon completion of GL0715, new financials may be run with the adjustments now included.

• There is no repetitive version of this command; it must be run individually on each company.