/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.