FAQ

Year end Process will have two parts

A.  Inventory Document  Serial creation.

B.  If customer use MYCOM Financial Module.

1.Document Serial Creation.

2.Financial Year Closing (If Account Period closing on January).

A.  Steps to be followed to create Document Serial(INVENTORY) 

Menu-Utility-Document Serial

1.Select Add (F9)

2.Select Document Type (It’s Based on Document you used last Year)

3.Select The Location ID.

4.Type the Financial Year.

5.Type the Prefix based on document type on Last year.

6.Type the Next number - There is two Possible ways

A. If Prefix as Location ID

Next number will be added with existing number + 20, e.g.: Previous Year

Next Number is 2456 so new number 2456+20 =2476

B.If Prefix is Based on Year (1YY or 01Y)

Next number can be 1

7.Save the Screen(F10)

Also in Utility - Company Setup - Add the Starting period & Ending period

A. Steps to be followed to create Document Serial (FINANCIAL)

Menu: - Reference Documents Document Serial.

1. Select Add (F9)

2. Select the Company

3. Select Document Type (It’s Based on Document you used last Year)

4. Type the Financial Year

5. Type the Prefix based on document type on Last year

6. Type the Next number- There is two Possible ways

7. If Prefix as Location ID
i. Next number will be added with existing number + 20,

8. If Prefix is Based on Year (APY or PYY)
i. Next number can be 1

9. Save the Screen (F10).

This is the place where user to create setup for New Year.

Menu: Reference - Company - Company Setup - Click Financial Year TAB - Click Period Setup Button

1. Click Add (F9)

2. Type Company Number

3. Type Financial Year

4. Type the Period

5. Type the From Date (The Month Start Date)

6. Type the To Date (The Month End Date)

Also in Utility - Company Setup - Add the Starting period & Ending period

1. Process all the transaction( if Company setup as User Posting) Transaction modules are (Account Payable, Accounts Receivables, JV, Payment Voucher and Receipt Voucher)
Menu: - Process Processing

2. Check whether Profit and Loss Account code created in chart of account window
Menu:- Reference Chart of account - Account

3. Close the Financial Month one by one
Menu:- Processing - Account Closing - Month Closing

In the screen
a. Type the financial Year (Closing Year)
b. Type the Period (Month from 1 to 12/ JAN-DEC)

4. Click Process.

5. Close the Financial Year
Menu:- Process - Account Closing - Year Closing

1. Type the Financial Year

2. Select the P&L Account Number

3. Click Process

Change the Financial Period

This Process used for modify the new Year Period Setup.
Menu: - Reference - Company - Company Setup then selects Tab - Financial Year