Ideal Online Documentation

28524 G/L PROCESSING
GL2-04 Year End Purge

 

PURPOSE

 

This program is run at the end of the fiscal year and does the following:

  1. Clears all income and expense accounts.
  2. Posts a profit/loss figure to the opening balance of the profit/loss account (as defined in COMPANY MAINTENANCE).
  3. Moves all current month end balances and current year opening balance on your G/L master file, to the prior year.
  4. Removes any transaction detail older than the defined number of years of detail history maintained.

The year end purge should only be run after all accounts payable, accounts receivable and inventory month/year end procedures have been completed.

 

Year End Purge is accessed from:

  • G/L Main menu.

 

PROCEDURE

 

When you select Year End Purge from the G/L Main menu the following screen is displayed.

 

G/L YEAR END PURGE DISPLAY

┌────────────────────────────────────────────────────────────────────────────────┐
│06/22/07 TF6             ***** G/L YEAR-END PURGE *****                   3LYEP â”‚
│                                                                                â”‚
│*** THE PRESENT CURRENT FISCAL YEAR IS 2006 ENDING AT MONTH 12 ***              â”‚
│                                                                                â”‚
│This program will shift this year's totals to last year and initialize this     â”‚
│year's totals to zero. The new year's opening balances will be set to the       â”‚
│closing year's final balances for balance sheet accounts and to zero for        â”‚
│income statement accounts. The net income for the year being closed will be     â”‚
│added to the opening balance of account 01-3100 for the new year.               â”‚
│                                                                                â”‚
│Account total history more than 4 years old will be removed (before 2003)       â”‚
│as will transaction detail history more than 4 years old (up to 2002/12).       â”‚
│                                                                                â”‚
│Note: If desired, you can change these purge parameters via the G/L company     â”‚
│master maintenance program.                                                     â”‚
│                                                                                â”‚
│** PROCEED WITH PURGE ? (Y/N): _                                                â”‚
│                                                                                â”‚
│                                                                                â”‚
└────────────────────────────────────────────────────────────────────────────────┘
** PROCEED WITH PURGE ? (Y/N):

 

"Y" to start the purge.

 

"N" to cancel and return to menu.

 

[F4] to exit to menu.