/PROG_HDR/

Program description:

This module closes all the G/L accounts at year-end and setup up the comparatives file.

/SCREEN1/

Program operation:

Type in the account number of the account to close all the income and expense accounts to (Retained Earnings) and consolidate all the asset & liability accounts into a single transaction for the starting balance.

Then, type in the period closing date.

The system will automatically:

- Close all Expense & Revenue accounts to Capital/Retained Earnings account

- Up-date the comparative information for each account for each period

- Summarize all the year's transactions into one transaction (dated the first day of the new period)

- Add one year to the accounting periods

Note: This program requires exclusive use of the G/L files. Do not run this program while others on the system may need to access these files.

WARNING: Run all the financial statements for the year BEFORE running the year-end program. This program clears all the G/L information for the previous year. You may however set up the new periods manually and wait a few months before closing the G/L. This program may take a long time to run, depending of the amount of data in the system.