The process needs to run in single sign-on mode, so make sure everyone is logged out of the company, and then log in with a supervisor password.

1. To start the New Year process: Pie Menu – Select Change -> New Year

2. Pie checks that the last financial period has transactions, that is, if it is appropriate to run the year-end. If there are no transactions Pastel Contabilidad notifies you with a message.

3. The Pastel Year-End Wizard screen opens. Always back up before you start your New Year’s Eve. Even if you’ve already backed up, do it now by clicking the Backup button.

4. The file backup screen opens.

5. On the File Backup screen, select a directory to back up and click process. has. For Verify method, select Make sure files are readable. b. For images: select Image backup.

6. Since we selected to make sure the files were readable, the backup process notifies us that it has completed the compression of our data files and is about to test that this backup is readable. (This is done because it can happen that a backup is saved in bad sectors of the hard disk and cannot be restored; this procedure verifies that the files are readable).

7. Once the backup is complete you will return to the Year End Wizard screen, click Next.

8. If there are any open batches, the Wizard will display an error and the user will need to update the open batches.

– To view Open Lots: select Pie Menu – View – Open Lots

– Open quote sales order batches can be ignored because they do not create financial entries, but any type of transaction will need to be updated (including POS batches)

– The marks in the All Users column are fine, but there should be no marks in any other user columns when you try to run the Wizard again.

9. The Copy company to another company screen. The selection here is a matter of personal preference, but I personally like to copy the company to a new company (give it a name that indicates the new financial year) and run the year-end process on that new company. This allows users full access to historical information BUT requires year-end auditors adjustments to be entered at both companies, this is to ensure that the closing trial balance at one company matches the trial balance opening in the new company. More effort, yes, but definitely beneficial when you want to analyze years and years of historical data, as this approach ensures that you don’t miss any historical details. -Select Create a new company named -Enter the name of the new company (8 characters) -Select Run year-end in the new company

10. If you have chosen a 13-period fiscal year setup, with 13 being the first period of the new year, Pastel will ask if you want to copy the period budgets to the new year. Make a selection and continue.

11. The Print Reports screen opens, reminding us of the most important reports that must be printed before starting the year-end process, these being: a. Trial balance b. income statement vs. Balance Sheet d. Customer and supplier age analysis e. Detailed ledger for all accounts

12. The What the Year Does screen opens. This screen tells us exactly what the Pie Accounting Year-End Function does. Read this to see if any alarms sound, but the effects listed are standard for all accounting systems. We’re almost done%uF04A. Click Next.

13. The Confirm Operation screen opens, this screen is your final confirmation that you want to run the year-end procedure. If you’re sure, click Process.

14. The year-end procedure runs and confirms that it is complete. If this process is interrupted, for example by a power outage, restore the previously created backup and start this process again.

15. Depending on your selection related to copying companies and which company to do New Year’s Eve, you will find yourself in the right company to process New Year’s transactions.

Pie Accounting Year-End Procedure: Effect What the Year-End Procedure Does… The Year-End Procedure Does the Following:

1) General Ledger Balances For income statement accounts, balances from the current year are carried forward to the previous year. For balance sheet accounts, balances from last year are consolidated as a total and current balances are carried forward to the previous year. Current year balances are set to zero. The system posts the profit or loss for the year to the retained earnings account.

2) Customer and supplier balances Last year’s balances are consolidated as a total and current balances are carried over to the previous year. Current sales/purchases scales carry forward to last year. This year the balances and values ​​of sales/purchases become zero.

3) General ledger transactions, customers and suppliers The system eliminates the transactions of the last year. This year’s transactions are converted to last year’s transactions, and the system creates a new, empty transaction file for the current year. Invoices on hold have their period set to period one.

4) Inventory costs, sales and quantity values ​​The system accumulates them in the totals of the last year and the current values ​​become zero.

5) Periods The system increments the years by a year in the period table and adjusts the end dates of the periods if necessary, for example, for leap years. The system sets the current period to one for users in a single period. 6) Move period 13 If you set period 13 as the first period of the new year, the system moves the transactions and balances from period 13 to period one of the new year.

Cake Accounting Preparation

What should you do first…

1) Update Open Batches – You cannot process year-end if you have open batches in your system.

2) Back up your business – We can’t overstate the importance of this step. You must keep this backup and NEVER overwrite it.

3) Make impressions:
– Trial balance for the year.
– Balance of the exercise.
– Detailed ledger for all accounts and all periods.
– Customer and supplier age analysis reports.
– Any other report deemed necessary.

4) Be sure to specify a retained earnings account

5) Copy the company to a new company: this is optional; we highly recommend it. To run the year-end procedure, the system first validates the following:
– You have to be a supervisor.
– The Retained Earnings Account must exist.
– There can be no open lots.
– If there are no transactions in the last period of the current fiscal year, the system warns you, since in all probability the closing of the fiscal year should not be running.
– The Year End Backup screen appears: The Confirm Operation screen appears. Click the Process button to perform the end of the year, or click the Cancel button to leave the function unprocessed.