For many of you, December 31 is the end of your fiscal year. As long as your year 2020 is not closed, it will not be possible to carry forward transactions into fiscal 2021. When you return in January, you may be wondering whether you should close your 2020 fiscal year immediately or wait until all your December transactions are entered.
In fact, since in Para-Maître it is easy to go back to a previous fiscal year, it is possible to close your 2020 fiscal year when you return in January. However, we suggest that you carry forward all of your pending 2020 bills and process your December bill receipts and complete all current transactions that occurred in 2020 to the best of your knowledge. However, you don't need to have reconciled your December before proceeding, this can be done later without any problems.
What will happen if you carry forward transactions from 2020 when that year has been closed?
A warning will be generated for each transaction belonging to the closed 2020 fiscal year. This message will inform you that the transaction belongs to a closed fiscal year and will ask you if you want to continue the deferral. You will have to answer 'Yes' for each transaction.
The advantage of closing the exercise as quickly as possible is undeniable, since you will want to process your current transactions from 2021 without delay and thus avoid delays that are difficult to make up.
So here is the very simple procedure for closing the current exercise:
1. Make sure you are alone in the accounting of the business you wish to close;
2. Go to the Accounting/General Ledger/Miscellaneous/Cancellation menu;
3. Press the "Close Current Exercise (F5)" button.
4. To the question: "Do you still want to close exercise X (01/01/2020 to 31/12/2020)", press the "YES" button.
5. BE PATIENT, do not Ctrl+Alt+delete to stop the process and do not press the "Close Current Exercise (F5)" button more than once. The transfer of balances can take quite a long time. WAIT, SIMPLY - For Intranet studies, running this process on the server may speed up the process. Also, you may want to run the shutdown at the end of the day or at a time when your server is less busy. IMPORTANT: DO NOT TOUCH YOUR KEYBOARD UNTIL THE YEAR 2020 IS INACTIVE AND THE YEAR 2021 IS ACTIVE.
6. It is not necessary to print the report.
If you have any questions, please do not hesitate to contact a customer service agent Para-Maître by email at sac@avancie.com.