Can I unpost from previous year if I open a new year.
I do not need to run a year end if I create a new year do I?
Do you have a to do list for year end and a what not to do list

Well Daffy, waddle on over to here for a year-end checklist.

Hi Irene,

To answer your first question, you can never Unpost from a historical fiscal year but you can 'Post to Prior Year', or the immediate historical year.

However, once the Next Fiscal Year has been created, then the Post to Prior Year function becomes disabled, therefore you cannot post to the historical year.

When you create the Next Fiscal Year with Adagio Ledger version 9.0A or 9.0B, you do not have to close your Current Fiscal Year at the same time. You can keep both years open for as long as you need to complete your Current year. When you are ready, then you can close the year.

If you are using Adagio Ledger 9.0B, you can Unpost from either the Current or Next Fiscal Year if both are open. Older version of Ledger only supported Unpost from the Current fiscal year.

We hope the checklist that Ralph linked to is helpful for you.

Just a note that you should close your "current year" when you send your books to your accountant for the preparation of the year end adjusting entries, if not before. You should not be keeping it open waiting for the adjusting entries.

Thank you Ralph;

The check list was great. A few more questions. please.

Current fiscal year still pertains to the year just finished , i.eg. Oct 31, 2009.??

I can create Nov (new fiscal year to post payables)
and still leave last year open and finish month of Oct.
no problems forseen, finsh year end, then run year end before sending to auditors, and use prior year to post their je's
(amortization etc.). I can use year end je's to post automatically to retained earnings. What is the value of year end adjustment je? Also, until I close the year of Oct 31, 2009, I can use the unpost, but once it is closed cannot use the unpost je's is that right. Have gl 9.0A not going to put in the service pack until old year done just in case it does something weird.

If you can think if anything I should be careful of, please let me know.

Thank you lots,

Hi Irene,

From your reply, I assume your year end date is Oct 31st.

Thus indeed the 'Current year' pertains to the fiscal year ending Oct 31, 2009. The 'Next year' would be the fiscal year ending Oct 31, 2010, which you can open using the 'Create Next Fiscal Year' function. Then you can bring in your Payables or anything else dated in Nov 2009.

When all of your transactions for your year ending Oct 31, 2009 (apart from the accountants adjusting entries) have been entered, and you do not have to Unpost any batches from this fiscal year to make corrections, then you can run the 'Close Current fiscal year' function to officially close that year, and make the year ending Oct 31, 2010 the new 'Current year'.

The adjusting entries would be entered as a typical Journal Entry batch and posted using the 'Post to Prior Year' function. You can choose to post to a specific fiscal period in the prior year, or keep them separate by posting to the special 'Year End period', which is essentially 'Period 14'.

The checklist has the list of basic steps of what can be done and what happens. For sure, make a backup of your Ledger data (using the File / Backup menu) once before you Create your Next fiscal year, and again before you Close your Current year, in case anything unforeseen happens, as these functions cannot be undone once performed.

Thank you alot;

The backup is really a great idea, perfect, puts my mind
at ease.

You have been really helpful. Will definitely use again.,