Close financial year in ERP-SB


F

Fiona Mill

We started to use ERP-SB this year. We had no problems at all and the
system performed beyond our expectations. But now that our financial
year is nearing its end, despite the explicit user manual, we are a
little anxious since we have never closed a financial year in ERP-SB
before. If anyone of you can give us any tip that may increase our
confidence in starting this process, we'd be more than grateful.

Fiona.
 
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J

Jessica Treadle

Closing a financial year in ERP-SB is quite simple. Just go to: "Options"
and then select "Close Book Year". Just follow the instructions given by
ERP-SB and you'll do just fine.
Obviously, you will need to make a backup before you start this process,
since a power failure during this process is libeled to spoil your day.
 
M

Mark Chandler

If you are anxious to execute this process in ERP-SB on your >>true<<
data, you can try it out on >>fake<< data first. Just create test books
in ERP-SB (you can even choose to append data from your >>true<< company
ledgers) and close these test books.

You can remove these test books and repeat this process as often as you
want until you are confident enough to do so on your >>true<< company
ledgers.
 
B

Beatrice

Fiona said:
We started to use ERP-SB this year. We had no problems at all and the
system performed beyond our expectations. But now that our financial
year is nearing its end, despite the explicit user manual, we are a
little anxious since we have never closed a financial year in ERP-SB
before. If anyone of you can give us any tip that may increase our
confidence in starting this process, we'd be more than grateful.

Fiona.
Make a backup of your books before you start to close them. Then, if
something should go wrong, you can restore the old data and try again.
 
J

Jim Cooper

My advice is not to close your books on December 31 yet. It is very
likely that you will have to make FY 2003 postings after this date.
ERP-SB makes it easy for you in allowing you to close a financial year
(well) after this financial year has elapsed. On the last day of the old
year, just make a hard copy of your trial balance for verification
purposes.
 
B

Benny

Fiona said:
We started to use ERP-SB this year. We had no problems at all and the
system performed beyond our expectations. But now that our financial
year is nearing its end, despite the explicit user manual, we are a
little anxious since we have never closed a financial year in ERP-SB
before. If anyone of you can give us any tip that may increase our
confidence in starting this process, we'd be more than grateful.

Fiona.
We have been using ERP-SB for several years now, but we have never closed
our financial year (never used this system option in ERP-SB). All we do
is print a trial balance on the first working day of the following year
(e.g. January 2) and use that data for taxation purposes. Works just fine
for us.
 
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F

Fay Arbid

Our method is slightly different from yours. What we do is:

- print a trial balance on the last day of the old year/first day of the new
year
- create new books for the new year and -while doing so- append appropriate
data from last year's books.
- Use last year's trial balance to check and complete the new year's opening
balance.

This way we are less likely to keep old data in our files of merchandise that
we stopped selling, of clients and suppliers that we do not do business with
any more, etc. Our method usually takes us about 15 - 30 minutes.
 

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