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Year End Automation
by Nathan Gray
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I'm doing up some automatic year end stuff, and I'd like some
confirmation against some other nations, to make sure pERP doesn't
violate anyone's laws (including Canada).
What has been requested:
1. After the fiscal year end date, any invoice posted for goods
received in the previous fiscal year should be posted as at the fiscal
year end date, but the date on the invoice should be unchanged. I
suppose services received might be covered as well, but pERP can't
detect that, so they would have to be manually corrected.
After a certain, variable period of time (maybe up to a month or two),
an accountant can begin the year end procedure.
2. pERP checks for a year end inventory count (if you use inventory)
and suggests maybe you should do one if you haven't
3. pERP checks for a year end bank reconciliation, and suggests maybe
you should do one if you haven't
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.
After this point, everything is sent off the external accountants /
auditors, who analyze and come back with any corrections that need to
be made. These corrections are made by a user with the extra admin
permissions mentioned above.
Does that sound reasonable?
Anything to add?
Anything that needs to be made optional or removed?
Nathan Gray
nathan at goarctic dot com
------------------------------------------------------------------------------
Crystal Reports - New Free Runtime and 30 Day Trial
Check out the new simplified licensing option that enables unlimited
royalty-free distribution of the report engine for externally facing
server and web deployment.
http://p.sf.net/sfu/businessobjects
_______________________________________________
Perp-developers mailing list
Perp-developers@...
https://lists.sourceforge.net/lists/listinfo/perp-developers
confirmation against some other nations, to make sure pERP doesn't
violate anyone's laws (including Canada).
What has been requested:
1. After the fiscal year end date, any invoice posted for goods
received in the previous fiscal year should be posted as at the fiscal
year end date, but the date on the invoice should be unchanged. I
suppose services received might be covered as well, but pERP can't
detect that, so they would have to be manually corrected.
After a certain, variable period of time (maybe up to a month or two),
an accountant can begin the year end procedure.
2. pERP checks for a year end inventory count (if you use inventory)
and suggests maybe you should do one if you haven't
3. pERP checks for a year end bank reconciliation, and suggests maybe
you should do one if you haven't
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.
After this point, everything is sent off the external accountants /
auditors, who analyze and come back with any corrections that need to
be made. These corrections are made by a user with the extra admin
permissions mentioned above.
Does that sound reasonable?
Anything to add?
Anything that needs to be made optional or removed?
Nathan Gray
nathan at goarctic dot com
------------------------------------------------------------------------------
Crystal Reports - New Free Runtime and 30 Day Trial
Check out the new simplified licensing option that enables unlimited
royalty-free distribution of the report engine for externally facing
server and web deployment.
http://p.sf.net/sfu/businessobjects
_______________________________________________
Perp-developers mailing list
Perp-developers@...
https://lists.sourceforge.net/lists/listinfo/perp-developers
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