How to close year end

Hi sanduni follw below  steps,

1) make sure you have run clear cost and revenue and posted the voucher period 13

2) make sure in accounting periods you have period 0 setup for the new year (make sure to RMB and add usergroup)

3) run the preliminary year end

4) run the balance analysis for period 0 of the new year and check to make sure the balance, balance in accounting currency, and the parallel currency are 0. 

5) if 4 is true you can close the accounting periods and run final year end-- if the parallel currency is out of balance -- proceed to step 6

6) You will need to determine what account you want to post to and you can setup a statistical account for the other side of the entry since statistical accounts do not roll forward to new year.

7) voucher entry - do a new journal in the last period of the year you are tying to close. -- on the row enter in a currency code other than your home currency -  then enter account - put 0 in the amount field - 0 in the currency amount and put in either a debit or credit amount in the parallel currency amount to balance this out.(the amount you need can be derived from the balance analysis you ran -- of course reversing sign of what the balance is)

8) post this voucher

9) run preliminary year end

10) run balance analysis for period 0 of new year to confirm all amount,currency amount, parallel currency amounts are all in balance

11) now you can close your periods and run your final year end.."

12),.

I assume you have the statistical account setup to exclude from GL.   That would cause it to not recognise the $ posted to that account to be taken into account when balancing.

Please make sure your statistical account is not set to exclude from GL.

Detail test steps are available in attached in document.

@Ramessh Kanna Thank you for sending this 🙂