End of Year Checklist

In this chapter, you’ll find the end of year checklist for TRASER DMS 365. The contents of this chapter are divided into the following sections:

• Fiscal Year
  • Opening a Fiscal Year
  • Closing a Fiscal Year
  • General Information on Accounting Periods
  • Inventory Periods
• Close Income Statement
  • Creating a Close Income Statement
  • Report Currency
  • Ultimo Date
• Number Series
  • Creating Number Series
  • Adding Number Series Lines

Fiscal Year

The following sections contain all important information on managing fiscal years and posting periods in TRASER DMS 365.

Opening a Fiscal Year

Before postings can be made in a new fiscal year, the new fiscal year must be opened and its accounting periods must be specified. To do so, please proceed as follows:

• Use the quick search (ALT+Q) to find the Accounting Periods page.
• Click on Home > Create Year... In the menu bar to create a new fiscal year.
• The Create Fiscal Year window opens.
• Select the desired starting date of the fiscal year in the Starting Date field, e.g. 01.01.2020.
• Enter the number of accounting periods in the No. of Periods field, e.g. 12.
• Specify the period for which data is shown in the report in the Period Length field, e.g. 1M for one month, 30D for thirty days, 3Q for three quarters, or 5Y for five years.
• Click OK to confirm your entries.

You have successfully opened a new fiscal year. The accounting periods are created, the Starting Date field will be filled in and the name of the month of the Starting Date will be entered in the Name field. After the last period of the fiscal year, a new accounting period is added with a selected checkbox in the New Fiscal Year field.

Closing a Fiscal Year

At the end of a fiscal year, it is necessary to close the individual periods. In addition, it is necessary to close the accounting for the fiscal year in order to enable a zero balance in the profit and loss accounts. To close a fiscal year, please proceed as follows:

• Use the quick search (ALT+Q) to find the Accounting Periods page.
• Click on Home > Close Year In the menu bar. If multiple fiscal years are open, the earliest still open fiscal year is always closed.
• A dialog window opens that specifies the fiscal year to be closed and explains the consequences.
• Confirm the dialog window with Yes to close the fiscal year.

You have successfully closed the fiscal year. The checkboxes in the Closed and Date Locked fields are selected for all periods of the year. You can now neither reopen the fiscal year nor clear the checkboxes.

General Information on Accounting Periods

This section contains further important information on accounting periods.

Inventory Periods

An inventory period defines the time period in which you can post changes to the inventory. It is defined by the date on which it ends (end date). When you close an inventory period, you cannot post any changes to the expected or invoiced inventory before this end date. You cannot post any new values to inventory before this end date. If you have open item entries in the closed period, i.e. positive quantities that have not yet been cleared for an outgoing transaction, you can still link outgoing quantities to these entries even if the period is closed. After the inventory posting period has been closed, you cannot post any inventory changes before the end date. The prices of all items must be adjusted before you close the inventory period. Please proceed as follows to close an inventory period:

• Use the quick search (ALT+Q) to find the Inventory Periods page.

• Click on Close Period... in the menu bar.
• A dialog window opens that specifies the inventory period to be closed and explains the consequences.
• Confirm the dialog with Yes to close the inventory period.

You have successfully closed an inventory period. Closed periods can be reopened with the Reopen Period... function, if needed. Reopening a period causes every inventory posting period to be reopened whose end date is later than the end date of the period you are reopening. You can also edit existing Inventory Periods or create new ones using the Edit List menu option. To do so, click in the next empty line to enter the corresponding end date and name for the following period.

Close Income Statement

The following sections contain all important information on close income statements in TRASER DMS 365.

Creating a Close Income Statement

The close income statement is used to transfer the annual result to a balance sheet account and to perform a profit and loss account zero position. This is done by creating lines in a specified ledger, which can then be posted. All profit and loss G/L accounts are processed and posting lines are created that cause the balances to be set to zero (i.e. each posting amount corresponds to the total of all G/L account items in the account within the fiscal year). These new lines are included in the ledger, in which you have to specify a balance sheet account - undistributed profits - (or a similar account) as the contra account before posting. When the accounting sheet is posted, a posting is made to each profit and loss account, so that the balance is zero. At the same time, the annual result is transferred to the balance sheet. Please proceed as follows to create a close income statement:

• Use the quick search (ALT+Q) to find the Close Income Statement page.
• Fill in the fields according to the following table:

• Click OK to create the close income statement.

You have successfully created a close income statement. You can run the run the Close Income Statement batch job multiple times. You can also post in the previous fiscal year, even if the close income statement has already been created, provided that you then run the batch job again.

Report Currency

When using a report currency, postings are processed automatically, i.e. the batch processing posts directly to financial accounting.

Ultimo Date

The date that is inserted in the lines by the close income statement is always the Ultimo Date of the fiscal year. The ultimo date is a fictitious date between the last day of the old and the first day of the new fiscal year and contains a U before the date, e.g. U311222. The advantage of posting to an ultimo date is that the balances for the fiscal year with normal dates are retained.

Number Series

The following sections contain relevant information on the use of number series in relation to a fiscal year. General information on number series in TRASER DMS 365 can be found under Creating Number Series.

Creating Number Series

Number series are frequently used to create structure and clarity in various areas and can help to facilitate administration and analysis of business data, when used with consideration.

• You can access the number series via the No. Series page.
  In general, you can set up a number series for a specific area. In the Purchases & Payables Setup, you specify a number series for unposted and posted purchase invoices. You control these settings by selecting the checkboxes in the Default Nos. and/or Manual Nos. fields. This determines if you can enter a number of your choice (Manual No.) for documents or if only the number from the number series (Standard No.) is allowed. If you want to allow both options, you can also select both checkboxes.

Adding Number Series Lines

• Click on Lines in the menu bar to create the individual Number Series Lines. You can create Number Series Lines in advance for future periods. The selected starting date for the new number series is essential for the automatic number assignment, e.g. in documents.
• Please consider the following fields for setting up No. Series Lines:

The No. Series Line that is taken into account by the system when creating new documents via the New function in the menu bar depends on the respective Working Date. You can affect this manually by temporarily changing the working date before creating the document, e.g. by resetting the month of January of the following year to December 31 of the previous year. In such cases, the software suggests a number from the number series of the previous year. For posted documents, the posting date from the posted document number series is always decisive.