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Year-End Journal Entry Reports
Year-End Journal Entry Reports
Because some governments require generation of a year-end journal entry report, you can generate them for your profit/loss accounts and your balance sheet accounts. The report shows what the closing entries of the General Ledger profit/loss accounts would be if they were generated. In addition, an option on Reference File category 144, Year-End Report, allows you to specify whether the report will also show what the closing and opening entries of the balance sheet accounts would be.
The Year-End Journal Entry Program (GL290E) creates fictitious transactions on the report that are used to zero the report balance. Each transaction is only generated on the report, no transactions are written to the accounting transaction files.
For each company/location, you can define a year-end account/center on Reference File category 144. When the year-end journal entry report is generated, this account/center is used as an earnings account in the fictitious transaction to zero each account. You may specify an account/center other than your retained earnings account on the category.
You can generate either one or three reports, depending on how you set up Reference File category 144. The Profit and Loss Accounts Ending Journal Report is always printed; however, you may elect to print the Balance Sheet Accounts Ending Journal and the Balance Sheet Accounts Beginning Journal reports. In addition, you choose to print the reports in detail or summary by setting a flag on category 144.
You may request either list or final reports on the Year-End Journal Report Request Screen. However, once the Final Year-End Journal Report is run, you cannot enter prior-period adjustment journals.
A sample of the transactions generated for the Year-End Journal Entry Report (GL290A) is shown in the following illustration.
DATE 1/28/93 ANDERSEN SOFTWARE EUROPE PAGE 1
TIME 19:37:19 BRUSSELS LOCATION CO 001
REPORT GL290A LOC LMM
LIST
YEAR END JOURNAL REPORT
INCOME STATEMENT ACCOUNTS
YEAR 92
BALANCE 100,000.00 100,000.00
LINE JRNL ACCOUNT CENTER ACCOUNT
NUMBER DATE NUMBER NUMBER DESCRIPTION DEBIT CREDIT
--------- -------- ---------- ---------- ----------------------------- ----------------- -----------------
58532 3/31/93 SALES SALES 115.00 .00
58533 3/31/93 PL-CLOSE P/L CLOSING ACCT .00 115.00
58534 3/31/93 DEPR-EXP-F DEPRECIATION EXPENSE - FISCAL .00 10.00
58535 3/31/93 PL-CLOSE P/L CLOSING ACCT 10.00 .00
58536 3/31/93 EXPENSES EXPENSES .00 50.00
58537 3/31/93 PL-CLOSE P/L CLOSING ACCT 50.00 .00
58538 3/31/93 YTD-RE YTD RETAINED EARNINGS .00 55.00
58539 3/31/93 PL-CLOSE P/L CLOSING ACCT 55.00 .00
TOTAL TRANSACTION DATE 3/31/93 100,230.00 100,230.00
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DATE 1/28/93 ANDERSEN SOFTWARE EUROPE PAGE 2
TIME 19:37:19 BRUSSELS LOCATION CO 001
REPORT GL290A LOC LMM
LIST
YEAR END JOURNAL REPORT
BALANCE SHEET ENDING ACCOUNTS
YEAR 92
BALANCE 100,230.00 100,230.00
LINE JRNL ACCOUNT CENTER ACCOUNT
NUMBER DATE NUMBER NUMBER DESCRIPTION DEBIT CREDIT
--------- -------- ---------- ---------- ----------------------------- ----------------- -----------------
58540 3/31/93 A/R ACCOUNTS RECEIVABLE .00 115.00
58541 3/31/93 BS-CLOSE B/S CLOSING ACCT 115.00 .00
58542 3/31/93 CASH CASH .00 500.00
58543 3/31/93 BS-CLOSE B/S CLOSING ACCT 500.00 .00
58544 3/31/93 DEPR-INV-F DEPRECIATED INVENTORY - FISCAL 10.00 .00
58545 3/31/93 BS-CLOSE B/S CLOSING ACCT .00 10.00
58546 3/31/93 INVENTORY INVENTORY .00 950.00
58547 3/31/93 BS-CLOSE B/S CLOSING ACCT 950.00 .00
58548 3/31/93 A/P ACCOUNTS PAYABLE 500.00 .00
58549 3/31/93 BS-CLOSE B/S CLOSING ACCT .00 500.00
58550 3/31/93 CAPITAL CAPITAL 1,000.00 .00
58551 3/31/93 BS-CLOSE B/S CLOSING ACCT .00 1,000.00
58552 3/31/93 YTD-RE YTD RETAINED EARNINGS 55.00 .00
58553 3/31/93 BS-CLOSE B/S CLOSING ACCT .00 55.00
TOTAL TRANSACTION DATE 3/31/93 103,360.00 103,360.00
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DATE 1/28/93 ANDERSEN SOFTWARE EUROPE PAGE 3
TIME 19:37:19 BRUSSELS LOCATION CO 001
REPORT GL290A LOC LMM
LIST
YEAR END JOURNAL REPORT
BALANCE SHEET BEGINNING ACCOUNTS
YEAR 92
BALANCE 103,360.00 103,360.00
LINE JRNL ACCOUNT CENTER ACCOUNT
NUMBER DATE NUMBER NUMBER DESCRIPTION DEBIT CREDIT
--------- -------- ---------- ---------- ----------------------------- ----------------- -----------------
58554 3/31/93 A/R ACCOUNTS RECEIVABLE 115.00 .00
58555 3/31/93 BS-CLOSE B/S CLOSING ACCT .00 115.00
58556 3/31/93 CASH CASH 500.00 .00
58557 3/31/93 BS-CLOSE B/S CLOSING ACCT .00 500.00
58558 3/31/93 DEPR-INV-F DEPRECIATED INVENTORY - FISCAL .00 10.00
58559 3/31/93 BS-CLOSE B/S CLOSING ACCT 10.00 .00
58560 3/31/93 INVENTORY INVENTORY 950.00 .00
58561 3/31/93 BS-CLOSE B/S CLOSING ACCT .00 950.00
58562 3/31/93 A/P ACCOUNTS PAYABLE .00 500.00
58563 3/31/93 BS-CLOSE B/S CLOSING ACCT 500.00 .00
58564 3/31/93 CAPITAL CAPITAL .00 1,000.00
58565 3/31/93 BS-CLOSE B/S CLOSING ACCT 1,000.00 .00
58566 3/31/93 ITD-RE ITD RETAINED EARNINGS .00 55.00
58567 3/31/93 BS-CLOSE B/S CLOSING ACCT 55.00 .00
TOTAL TRANSACTION DATE 3/31/93 106,490.00 106,490.00
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Year-End Report Samples (GL290A)