This option allows you to close the prior year journals, meaning that the year-end process is finally complete . [It acts as a cut-off point to prevent any further prior-year movements being posted to the ledgers] Once this option has been run, the menu options Enter Prior Year Journals and "Close Prior Year Journals" will be removed from the ledger until the next year end has been run.
To access the option:
1. From the Autoline master menu select the Nominal Ledger option and the company you require.
2. Select the Period-End Options menu option.
3. Select the Close prior year journals option.
4. The Close prior year journals form is displayed.
BUTTONS
At this point you will have the following choices:
Close: In this case, Close will close off the prior year journals.
Cancel: Returns you to the main menu.
Help: Displays online help in the default company browser.
This functionality exists to improve general ledger group consolidation facility, as an alternative to divisional accounting, for group financial reporting. Support for consolidation to any company number from any company, by specifying the 'consolidation' company as a system parameter of the 'source company'. [Refer to System Parameters for further set-up detail] It allows posting of journals within a consolidation company .The source NL company is added to all of the transaction files, TRANS. ATRAN and OTRAN. in the Consolidation Co as far as reporting is concerned. As a means of determining which daybook was the last to be included in a consolidation, there is a new System Control, which increments the number to the last daybook used in any given consolidation. This field is only visible to priority 9 users.
Set-up requirements
All source companies must have the Consolidation Company ID set in System Parameters. The Consolidation Company itself must have its own ID in System parameters. This is how the system knows that it is a consolidation company and therefore gives the Consolidation option on the Main NL menu. The Accounts company file in the consolidation company must have the Consolidation Company record only. The consolidation company ID can now be any Nominal Ledger Co. provided the Accounts Company file requirement is met.
Operation
1. Select the NL Consolidation company
2. Select the menu option Company Consolidation
3. Click the button to Consolidate Nominal Ledger
When complete [this may take several minutes depending on the size of the Autoline installation], a button entitled Rebuild will be enabled. The user must click this button to rebuild the accounts and then the consolidation process will be complete.
Additional Points
When performing consolidation all source companies and the consolidation company require to be in the same NL accounting period. Before you can roll the period end of the Consolidation Company all source companies must have been consolidated. No VAT related files will be consolidated. Nominal atran and OTRAN files will be updated in the normal process of period and year end closing. As the transactions are being consolidated the account totals will be rebuilt at the end of the consolidation process, therefore after consolidation the Consolidation Company nominal account totals should verify. When in the consolidation company certain menu options will not be available to the user. i.e. VAT Options, Bank and Currency options, Quick Cash Input etc. Nominal Ledger journals are allowed in the Consolidation Company but it must be remembered that there is no concept of a divisional consolidation company, although it will allow you to consolidate divisional and non-divisional companies together.
