Final Year End Process

Hi Nagah,

Do a GL balance analysis query by account type ASSETS and LIABILITIES. check if the balance is 0, if not (which could be due to a rounding issue or having balances in STATISTICS accounts), then you will have to create a manual voucher to adjust it.

Pamith

Did you close your costs and Revenues accounts before Final Year end?

yes

OK, please check balances on your statistical, costs and revenue accounts. They should give total zero amount to close accounting year.

Did you recently upgraded to a new version of IFS from an older version.  If so, submit a case to IFS.  I believed this is an upgrade issue.

Hi Nagah,

If it is relating to parallel currency difference related to an upgrade you can use the below steps to solve the issue

Here are the steps followed.

1. Go to GL balance Analysis and query for Year 2019
2. Notice that the balance difference Accounting year 2019 for parallel currency 
3. Now put a M voucher to 2019 period 12 as follows:

If the difference is a minus value

Asset Account - Debit 

A Statistic Account – Credit

And update GL

If the difference is a positive value

A Statistic Account – Debit

Liability Account-Credit 

4. Now try to do the Final Year End and it should be able to be done successfully

Hope this works for you.

Best Regards,

Hakeem