FISCAL Year Procedure

Please perform a FILE-SAVE before running this program and save it until you are sure that you will Not need to restore the data about to be changed. This program should be run at the beginning of the new FISCAL year.

You may roll the Chart of Accounts in the month prior to the end of the current fiscal year. This allows you to roll without having to wait until the new fiscal year.

The new year will be inserted into each Chart of Account:  Asset, Liability and Equity account. Ending Balances will be copied into the Beginning Balances for the new year.

It is important that you do a Journal Entry (8.1.1) to clear the Profit and Loss Equity Account into Retained Earnings. WARNING: If the Current Year Profit & Loss is cleared and there are additional transactions put into that year; the Current Year Profit & Loss will need to be cleared again for the new value.

If the new year does not match the current fiscal year, you cannot roll. If this occurs, just press <ENTER> to exit.

The Chart of Accounts Roll will backup the entire Account file into a sub-file before the accounts are actually rolled. The file name will be in the form of Date.Time (example: 01/26/1999.15:19:42 is the file name). This is useful as an annual backup of the account file.

The TCL command to list the accounts is:

LF ACCOUNT 

The TCL command to list the individual backup is:

LIST ACCOUNT,mm/dd/yyyy.hh:mm:ss

(example: LIST ACCOUNT,01/26/1999.15:19:42)

Enter a <C> at the “Enter Selection” prompt and press <ENTER> to create new year in Chart of Accounts and Year List.  When finished, just press <ENTER>.

If you need to force the Chart of Accounts to Roll and you get a message similar to:  “The new year 2005 does not match the current fiscal year 2004. Cannot Roll.”, Type in ROLL at this error message and the roll will go through.