TESS/GL New Year Processing

Steps to be taken

1. Open the New Year. This can be performed at any time - it is likely that you will have already done it by now as CL period 13 can not be opened until it has been done. Once the new year process has been run you can post to periods in the next financial year. The new year option is located on the General Ledger Processes Menu mumenu->GL->PROCESS->NEWYEAR

   Carry out any necessary work required to finalise the balance sheet and P & L accounts for the current year. Once you have done this (posting any batches as required) you are ready for the next step.

   The next three steps should be done at the point in your accounting timetable when you would normally close the period. Note that the provisional opening balances must be posted BEFORE period 13 is closed. To post the opening balances, the balance sheet for period 13 must be in balance.

2. Post Provisional Opening Balances to the New Year. When your are ready to close period 13/financial year 93/94, select the NEWBAL option from the General Ledger Processes Menu.
3. Close Period 13. You can do this immediately after running the NEWBAL process - once you are sure that NEWBAL has functioned correctly. You can Close period 13 in the normal way by selecting GLPERIOD from the General Ledger Processes Menu.
4. Close the financial year. As soon as period 13 has been closed, choose the close financial year option by selecting YEAREND, again from the General Ledger Processes Menu.

If you have an questions or require further help please contact the Support Desk on 01756 749944 or Send E-Mail to help@looksystems.co.uk.