Re: Year End Automation

>> In french ledger, the invoice is posted on the date the document is made...
>> They are two accounts "charges à payer" et "produits à recevoir" ("accrued
>> liabilities" and  "accrued income")
>> in wich the operations are posted (products or services are delivered but
>> the invoice isn't etablished).
>
> Are these different from the normal GL accounts (Accounts Payable & Accounts Receivable)?
No.
 
It's the same account with a 8 in third or fourth position
401 Supplier
408 Supplier Invoice not send  

445 Fiscal TVA Taxe
4458 Fiscal TVA Taxe to be regularised

In French Ledger you have account 1xxxxxxx  Capital accounts, 2xxxxxx Immobilisations (like cars, constructions) (and 28xxxxx amortissements and 29xxxxx provisions - 8 or 9 in second position is a diminution)
3xxxxxxx stocks (inventory depreciation 39) 401xxxxxx Suppliers 41xxxxxx Custommer 44 Fiscal Adminstrations 512 Banks 530  Cash

and
  6xxxxxxx expenses and 7xxxxxxx income (the number of digit x are variable from one activity to another 5-7-9...)

>
>> The next fiscal year, you must reverse the accounting entry when you receive
>> or etablish the invoice.
>
> What are the mechanics of this?  Is this something that can be automatically entered?


No it's a manual operation


>
>
>>> 3.  pERP checks for a year end bank reconciliation, and suggests maybe
>>> you should do one if you haven't
>>
>> bank reconciliation is done month after month, operation after operation
>> when you do the daily accounting
>
> Really?  We do month by month, because the bank sends a statement of transactions monthly.
> Does your bank provide you with real-time electronic records for you to reconcile against?

It's depends if you're a small  or a big bussiness, yes. It depends wich are your banks. Statement are send as you want, or as the bank wants.

>
>>> 4.  pERP creates and posts a Journal Entry that moves the balance of
>>> all Revenue & Expense accounts to a single GL account, Retained Earnings
>>> 5.  The General Ledger is locked, and no posting is allowed prior to
>>> the year end date, except for accountant / auditors with extra admin
>>> permissions.
>>
>> There is a journal called "Bilan d'ouverture" or "Reports à Nouveau" created
>> by the year end procedure
>> in wich all accounts are automaticly reversed for the balance of each
>> account
>> and the result goes in a result account.
>
> ALL General Ledger accounts?  What happens to outstanding amounts?

little mistake : not all,  only 6xxxxxxxx expenses and 7xxxxxxxxx income gives the result


The others are writen in the  reported in the journal "Report à Nouveau" for the balance (with the history)
and the result is manualy affected in the "Bilan d'ouverture".


The correction and the year end operation are posted in a special journal
and it's before the year end procedure.
Before the year end procedure, you have two years opened. And after it, you
can't touch anything in the closed year.

What is the procedure for correcting errors?
For example, incorrectly valued inventory.

It's a manual posting in a journal (O. D.) Miscellanous Operations.
Before the year end procedure.
After the year end procedure you can't  (law) access at the past year.
That's the reason why two fiscal years are open some months together..

Sorry for my non perfect english...
I Will make you a real example as soon as possible.
Claude