Question

Final Year End Process

  • 1 March 2021
  • 6 replies
  • 494 views
N
Rank
Userlevel 7
Badge +13

while closing the financial year -2019

I try to run Final Year End process, but system generated this error

 

This topic has been closed for comments

6 replies

PamithK
Rank
Userlevel 3
Badge +8

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

A
Rank
Userlevel 7
Badge +16

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

Regards, Adam
N
Rank
Userlevel 7
Badge +13

yes

A
Rank
Userlevel 7
Badge +16

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

Regards, Adam
C
Rank
Badge +1

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.

H
Rank
Userlevel 2
Badge +2

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 

 

  1. 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

 

 

 

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