Year end rollover

• The Year end rollover (YERO) process is run from a Financial Year.

• The YERO process creates document(s) for the previous financial year to populate the bought forward period. In high level terms, this is done as follows:

• An aggregated posting line per balance sheet Chart of Account (COA) code and selected [posting attributes] with a balance other than 0.

• An aggregated posting line of all P&L lines to the equivalent Retained profits COA code and selected posting attributes that are set in environment defaults period handling.

• The above lines include the monthly periods as well as the special bought forward and adjustment period(s).

• The above posting lines create a document in the bought forward period of the next financial year.

• YERO can be conducted on 1 or more Legal Entities at the same time as long as they are part of the same Financial Year Group.

• The postings generated by the YERO are created as manual journal documents. If following the posting of these documents, further revisions need to be made to the YERO then the previous YERO documents can be reversed, the corrections/ adjustments made and the YERO process repeated, thus creating new YERO documents.

  

How to perform a Year End

• If you would like to choose an attribute to aggregate by e.g. fund, go to environment defaults, period handling and set the year end rollover attributes.

1. To perform a Year end first select the financial year you would like to end.

2. Press Year end.

   

3. Choose the setup.

   Setup explained

   • Document type: This is a "Periodicity" section in environment settings, period handling. Consider relaxing the posting attribute validation checks if you're not going to include all balance sheet posting attributes. Additionally, if the YERO document type is locked, unlock it and set it as the default here.

   

   • Batch series: choose a suitable batch series

   

4. Select rollover year.

   Rollover year explained

   • Financial year: The financial year that is being ended.

   • Description: The journal description.

   

5. Select criteria. You can choose to Year end one legal entity or all that are in a financial year group.

   Selection criteria explained

   • Legal Entity: YERO can be run for 1 or more Legal Entities which are part of the Financial Year Group.
   • Include b/f period: Tick if you wish to include the bought forward values from the Financial Year being rolled forward.
   • Include adjustment period(s): Tick if you wish to include the adjustment values from the Financial Year being rolled forward.

   

6. Select outcome options.

   Outcome explained

   • Produce B/F: Author based setup to produce a brought forward document for the Financial year being rolled forward.
   • Submit for authorisation:
   • Close periods: Tick if you wish to close the periods associated with the Financial year as part of the process.
   • Finalise year end rollover: Tick if you wish to close the Financial Year as part of the process.

   

7. Press Run.

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Updated March 2024