How do I open a New Year for Account Payable and General Ledger?

Question:

How do I open a New Year for Accounts Payable and General Ledger?

Resolution:

Create the accounting period for each Corp/Fund for the new year. (this example is from 2011 to New Year 2012)

You can easily clone from one year to the next using Option 18 -Clone Accounting Periods, from the General Ledger File Maintenance menu.

You will need to key in the Corp/Fund and the "from" year 2011, then the same Corp/Fund and the 'To" year 2012, at the copy period closed area, key in a "N" and the following fields will appear.

From Corp# : 2 To Corp# : 2

From Year : 2011 To Year : 2012

Copy Period Closed Data . . . .: N (Y,N)


Set 12 months to Yes or No
Valid For GL . . . . . : Y
A/P Closed . . . . . . : N
A/R Closed . . . . . . : N

Set the Valid for GL, AP Closed, and AR Closed as shown above. You will need to do this for all Corps/Funds.