The new close of income/expense was not clear to me and I closed Income/Expense before I was ready.... I had expected that my 2006 (Past Year) would close since I dated it 10312006...
Instead my 2007 (Current Year) closed to retained earnings. I have not yet closed the Fiscal Year for 2007.
I have been posting in BATCH for 2007 Current Year postings and in NEXT YEAR for my 2008 New Year postings)Should I continue in this way?
Once I am ready to close the fiscal year, can I Close Income/Expense again and date it 10312007???? or will it close next year's totals to retained earnings?

Hi Fullen,

It is allowed to run the Close Income/Expense Accounts function multiple times, to close postings in your Income Statement accounts to Retained Earnings, for Current Year transactions only. Any batches you have posted from the Next Year Batches when using Adagio Ledger 9.0A are ignored by the Close Inc/Exp Accounts function.

As long as you haven't run the Close Current Fiscal Year function for 2007 (you said you haven't yet), then it's OK to proceed as usual and run Close Income/Expense Accounts a second time when you want to move all the remaining Income Statement account balances to retained earnings.

FYI: The Close Income/Expense Account function in Adagio Ledger 9.0A is identical to the function called 'Close Year' in previous versions of Adagio Ledger. We simply renamed the function in order to better describe what processing will occur when performing the function. Similarly, the old 'Change Fiscal Year' function has been renamed 'Close Current Fiscal Year' in Ledger 9.0A, but the function processing is identical.

If you haven't yet attended a webinar describing the new features and functions of Adagio Ledger 9.0A, there are some free webinars (about 1 hour in length) you can register for, from the link here

Thank you...

I had already closed 2006 but it was my first year end and I didn't realize that the 2006 prior year postings didn't have to be closed again to retained earnings... so I understood that it needed to be closed again before I opened 2008.

Anyway, this will work.

Thanks

I have posted and cleared all the journals in Payables, posted and cleared the batch status, posting journals and used the Close Income/Expense Account function but cannot get access to the Close Current Fiscal Year. How can get access to this?

Hi June,

If this is Adagio Ledger 90A you are referring to, there are two things to investigate:

- If you don't even see the 'Close Current Fiscal Year' menu choice, this means you haven't created the next fiscal year yet, using the 'Create Next Fiscal Year' function. Once this is done, the Close Year function will be available.

- If you do see the 'Close Current Fiscal Year' menu choice but it is grey and inactive, this means the security Groups have been set to disallow access to this function. Edit the Security Groups to provide access.

Hi
I have used the Create Next Fiscal Year function, then used the Close Year function and the message I got was to print and clear the Prior Year Posting Jounal first. I went to the Prior Year Post but it is grey. where do I go to edit the Security Groups to provide access to this?

Ahh, I see. Once you have opened your next year, you can no longer post to prior year. This is not a security setting but the way it works. You cannot post to prior, current and next year all at the same time.

If you have recently opened the next year, then perhaps you can restore your data from a older backup before creating the Next year, then re-do the work for posting to Prior Year, then open your Next year.

If it has been some time since opening the Next Year, and re-doing work is not palatable, your only other choice is to use the Import Transactions function to get the entries into the prior year. Note that you also have to account for Retained earnings manually if you choose this option.

It seems pretty late to have adjusting entries for Prior Year, over a year later so that the Next Year needs to be opened. Is there a reason why these entries are so late, and what did you do before Ledger 90A allowed opening a Next Year before closing the Current year?

No I just opened the Next Fiscal Year. Prior to doing this I checked the Prior Year Post and there was nothing to post.

I have tried to print the Detail Listing for the whole year and the prompt asking if I would like to clear this posting does not pop up.

Opening the Next Fiscal Year intentionally disables the Post to Prior Year function. The correct procedure is to ensure that there are no more correcting entries that need posted to prior year before opening the Next year.

Printing the Detail Listing report never gives an option to purge. Perhaps you mean the Posting Journal report or the Batch Status report, which are the 2 reports that can be purged? Also you must print to paper or file (not the screen) in order to allow purging a report.

Hi, June,

Am I correct that you are not trying to post to the prior year but are trying to get the prior year posting journal to print and clear so you can close the current fiscal year? If so, please read on.

If you're receiving a message to print and clear the Prior Year Posting Journal which is preventing you from closing your current fiscal year.

Two things:

First, please confirm that from the menu you have selected Post | Print Posting Journals | Print Posting Journal. Then on the Print Posting Journal window you have clicked the radio dot to be positioned beside the Prior Year (eg. if your fiscal year you're wanting to close ended in, say, March 2008, you would click beside 2007 as your prior year). When you do this and then click the Print button, does anything print? Do you receive the 'Do you wish to purge posting journal message? If so, say 'Yes'.

Second, if in the last paragraph there was nothing to print, you will have to use Windows Explorer to drill down to your data folder and scroll through the list of files to locate the GLPJRPYR.xxx file (where 'xxx' is your company's 3-character data extension). Rename this file to something like oldGLPJRPYR.xxx or GLPFRPRY.old. Do not delete the file. Now, try to close the current fiscal year again.

I have experienced the problem June is encountering, in fact just today.

It occurs with data that has been converted to 9.0A during the year in question, and the converted data had entries posted to the prior year. The conversion seems to want to create a prior year posting journal, but there is no way to PRINT this posting journal unless you post ANOTHER prior year entry after conversion.

Softrak's suggestion to locate and rename the GLPJRPYR.xxx file is the solution.

I just wanted to throw out a reason why this happens. It won't happen again next year.

Steve

Just a note - we PRINT all batches immediately after posting, but do not purge them at that time (we want to keep the option of unposting, in case of mistakes). We still had to go through the exercise of printing the batches again in order to purge. Is there any way around this? (Our system froze if we tried to print to file, so we printed to paper and then killed the job at the printer rather than waste 2 reams of paper).

Hi C White,

The Unpost function does not rely on the posting journal, so you don't have to keep them for the reason of unposting. But you really wouldn't want to purge a posting journal until Year End anyway.

You only get the option to purge if you print to file or printer. Yes, you must go through this process again.

If your system froze when printing to file, either you printed to Excel and there was too much data to fit in 65000 rows (the maximum), or your system can't handle large files. The smallest file size you could print to is the HTML format.

Or you could use a PDF printer and use that as the print destimation, rather than the printer or one of the supplied file types in Adagio.

Perhaps try printing a few posting sequences to file, rather than all at once. This could help determine if the resulting print file is too large for the network to deal with.

Hello,

Are you referring to printing the posting journal? You cannot actually print a batch after it has been posted.

We feel that preserving the audit trail (one of Adagio's strengths), requires that the posting journal be sent to file or printer before it is purged, and we require that the file be purged before the year end is done. We do recommend keeping your posting jounals until the ned of the year. However, we print the journal to a PDF and save the PDF file for any audit before purging the file. Both PDF995 and CutePDF are inexpensive PDF file creating products.

Another PDF printer I have just found recently, and rather like, is PDF Creator .

I have found problems with Cute PDF on files with intensive graphics.