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Checklist Fiscal Year Transition

Administrative entries in MKG are divided into fiscal years. In addition, MKG has many fiscal year-dependent tables. To ensure a smooth transition in the fiscal year, you must therefore perform one or more actions every year. You can do this quickly and easily using our checklist.

 

While executing a fiscal year transition, in today's administrative systems, actions that only occur once a year still have to be performed. These actions cause questions, or worse, are not performed at the most appropriate time. To prevent these questions and to ensure that the fiscal year transition runs as smoothly as possible, this checklist is intended for those who coordinate a fiscal year transition with MKG software.

 

 

   
   
 

Checklist Fiscal Year Transition
   
 
This action is:



1. Create a Fiscal Year
required
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2. Authorize Users
optional
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3. Check the Period Division
optional
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n.a.
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4. Adjust the Financial Sequence Numbers
optional/moment critical
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5. Adjust the Logistic Sequence Numbers
optional/moment critical
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6. Adjust the Batch Assignments
optional/moment critical
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n.a.
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Explanation

 

Creating a Fiscal Year > MKG entries are subdivided into fiscal years. A fiscal year contains fiscal year-dependent tables that are automatically filled for the new fiscal year when you create a new fiscal year from a current fiscal year.

 

Please note!
Also create a new fiscal year if you do not keep your financial administration in MKG. This is desirable for the time registration and for the year-dependent entry numbering.

 

 

 

Authorizing Users > MKG uses an authorization model in which you set per user whether or not they have access to the data of an administration/fiscal year. You can set this access after creating a new fiscal year.

 

Checking the Period Division > In the new fiscal year MKG creates a period classification according to the settings of the current fiscal year. Especially in administrations where bookings are made in 4-weekly periods, a check and possibly a correction is sometimes necessary.

 

Adjusting the Financial Sequence Numbers > MKG registers a unique number, a sequence number, for various processes. The financial sequence numbers, also known as entry numbers, are recorded in the journals in which you manually create entries.

 

Adjusting the Logistic Sequence Numbers > MKG registers a unique number, a sequence number, for various processes. The logistics sequence numbers, also known as order numbers, include the quotation series and the calculation series in addition to the order series. If you want to automate this serial numbering, so that you no longer have to enter it manually, you must perform this action before you create the new fiscal year. Automating the process numbering is only possible in MKG3 and MKG5.
Here's how to do that.

 

Adjusting Automatic Batch Processing > Do you use automatic batch processing, for example to import orders? In the relevant import script, the fiscal year in which the import must be performed must then be adjusted to the new fiscal year. This is related to the assignment of the order numbers.

 


New Fiscal Year in MKG App

In the MKG App it is possible to switch between fiscal years. Do you use the MKG App? Do not forget to set the new fiscal year there as well.

 

  1. Go to the settings via the main screen. You can find this via the cogwheel at the top right of the screen.
  2. Go to MKG.
  3. Go to Fiscal year and choose the newly created fiscal year.

 

 

Day-to-day Working Method during a Fiscal Year Transition

If you use MKG in the Basic financial setup, there are few or no restrictions on the daily operations with MKG. The only thing to keep in mind is that, in case of a serial number change, this change will be applied immediately the moment you save the control variables. Read more...

 

If you only use the financial processing of purchase invoices and sales invoices in the administration of MKG, then we speak of a financial setup Basic. The automatic journal entries that MKG are processed in this method only affect the profit and loss account and not the balance sheet (except for the VAT accounts and the debtor and creditor accounts). All entries that affect the balance are entered manually by the user. You can read more about MKG's financial structure here.

 

 

Rate Adjustments during a Fiscal Year Transition

A rate adjustment is often implemented simultaneously with a fiscal year transition, if desirable and necessary of course. Different rates are available within MKG. For two types of rates of operations, net and billable rate, you can specify a price per hour, with which MKG calculates different prices. Read more...

 

 

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