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RE: EOY rollover and Bank Reconcilations

coronelsuper — Thu, 07 Jan 2010 20:30:17 GMT

Hi MySF. Happy New Calendar year ! i had a question on the bottom of one of my old querries - the 'compare with last year's balances' on the 'report tool' for P&L and B/s has 'greyed out' ie the later versions do not give this as option. has it been removed ? thanks

RE: EOY rollover and Bank Reconcilations

MySF2 — Mon, 13 Apr 2009 22:34:30 GMT

Hi,

The 'cannot be undone' in the warning of the year end reversal refers to the fact that you cannot un-reverse a year end process reversal. This does not mean that you cannot rollover the same year again with the same or different information. It is safe to use the year end reversal to re-open the closed off year, modify information and then roll it over again.

Note that doing a bank reconciliation is not required by the software and not reconciling all items will not lead to any errors. If you are happy to keep going with those two unreconciled entries then you may wish to leave them as is and not repeat the year end rollover process.

Regards,

MySF

EOY rollover and Bank Reconcilations

coronelsuper — Sat, 11 Apr 2009 21:48:23 GMT

I was getting efficient and doing the rollover earlier than I normally do, and with 2 property trust distributions (which are nortorious late) were not yet banked until months after end of June. I did bank rec for 30 June 08 and both distrubutions were left unticked ie with 'no' on the reconc. Do the EOY rollover and do next bank rec and the distributions are no longer there, thus bank rec does not rec.

I guess the solution is to unwind the EOY rollover and do the bank rec 1st ? but looking at the housekeeping - reverse end year process. It states reversal is permanent and cannot be undone - does this mean I cannot do another EOY process ? that would really screw things up.

please advise which way to go ? thanks

ps . I note once I have done EOY rollover and go to P&L or B/S one cannot see (compare with last year's balances) anymore. It seems the EOY process wipes all records for compartive purposes.