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

 

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During the execution of 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 avoid these questions and to make the transition to the fiscal year run as smoothly as possible, you will therefore have to perform one or more actions every year.

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New Sequence Numbers in Use?

For example, the next MKG user who enters a sales order on New

gets a number from the new string. Even if that was not the intention, it is better not to correct that sequence after this action. The order series will then still be broken, whereby it is not excluded that at some point you will run into an unintentional double order number. Incidentally, the application will prevent malfunctions from occurring as a result, but you now have to enter new order numbers and/or series yourself.

 

Entries for the New Fiscal Year

All actions are linked to the voucher date. This voucher date is part of a period determined by the Periods table. If you create entries for the new fiscal year at the end of the fiscal year, but the new fiscal year is not yet available, this can lead to notifications. These messages then have to do with the fact that it is not possible to determine what the period is and whether the entry can be executed correctly. As soon as the new fiscal year is available, the messages will disappear and the processing can be carried out without any problems.

 

Two Entry Types

Using the administration settings, you have chosen to financially process two types of entries. These entries are also visible in the financial administration. However, MKG writes out all other entries completely - invisible to the financial administration - but does not offer them for processing. When these processing operations take place, it is checked whether the relevant entry rules can be written correctly.

 

Historical Periods and Fiscal Years

In the Periods table historical periods can be closed during the maintenance of fiscal years. When you run a Basic financial setup, we advise you not to close historical periods and historical fiscal years. The above (hidden) entries are then checked and declared invalid if they are made in a closed period. An example for such a situation is the financial completion of production orders. This completed notification is created in the period in which the linked sales order was invoiced. This (historical) period must then be available for entries.

 

Outstanding Items on December, 31 after a Fiscal Year Transition

Suppose that for the purpose of the financial reporting at some point in the new fiscal year you must have access to the position of debtors and creditors on the closing date of the current fiscal year, then MKG has the reports Outstanding Items Debtors (8513) and Outstanding Items Creditors (8500) with which the open entries (on a given reference date) can be printed. Even if the new fiscal year has already been in use for several weeks, it is still possible to print the outstanding item lists on the reference date December, 31 of the past fiscal year.

 

Ledger account 9999 contains a balance? Within the administration, ledger account 9999 has been set up as closing account. As a rule, a balance on this account means that something went wrong during processing or setting up. One of our employees of the MKG Helpdesk can assist with this.