Initialize Journal Periods

Initialize Journal Periods - Year-End

Use the Year-End Initialize Journal Periods routine to clear all transactions for a string of Periods and copy the transactions to history. You only need to specify the starting period and all of the following periods will be initialized. A confirmation report shows the periods that were cleared when the routine is done. You can use this routine when preparing to enter transactions for a new fiscal year, especially after you have closed the previous year and are ready to initialize any periods not already initialized.

Tips:

The initialize routine does not save, update, or roll Period Balances. It simply clears a Period so it is ready for journal entries for the new fiscal year and optionally saves the existing journal entry transactions. To save Period Balances, see the Save Historical Data routine.
You must initialize a period before starting to enter journal entry transactions for the new fiscal year.
The report is also known as the Year End Initialize Journal Periods Report.
For more information about running reports, see Print View.
For information about the sequence of running the Year End programs, refer to the General Ledger Runbook.
To see an example of the report, click Initialize Journal Periods - Year-End Report Sample.

CAUTION

The Initialize Journal Period routine removes all journal entry transactions for the specified periods.

All journal entries for the periods to be initialized must have been posted.
Be sure not to initialize any periods in which you have started entering transactions for the new fiscal year.

Directions:

To open:

1. Click Year End from the Menu.

2. Click Initialize Journal Periods.

Tip: Or, use the keyboard shortcut: [ALT] [y] [i].

Note: You may be able to access the General Ledger menu while in another INVISION module. To activate the General Ledger menu in another module, the G/L Application Control must be set up for the module during installation.

Year End Initialize Journal Periods Window Example:

Year End Initialize Journal Periods Prompts
Starting Period	To specify the first period in the string that you want to initialize, click the period in the drop-down list. (predefined format)
Copy Journal Detail to Historical Year	The year that the journal detail will be copied to displays for your reference. Note: The year value is maintained on the Fiscal Year Table.
or	To run the routine, click Proceed or press [ENTER]. Keyboard shortcut: [ALT + p] Or, to run the routine and print to the Print View screen, click Print View. Or, to escape from the routine, click Cancel . Keyboard shortcut: [ALT + c]
Completion	Verify the periods that were cleared and that Done displays.