Update Master Accounts

Use the Update Master Accounts routine during year-end to roll the calculated account ending balances from the closing fiscal year into the beginning balances of the new fiscal year. This routine also increments the period closing date by one year and sets the period balances for all periods to zero.

Also called: Pre-Adjustment Year-End, Update General Ledger Master Accounts

Tips:

For information about the sequence of running the Year-End procedure, refer to the General Ledger Runbook.
To see an example of the report, click Update Master Accounts Report Sample.

Directions:

To open:

1. Click Year End from the Menu.

2. Click Update Master Accounts.

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

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.

Update Master Accounts Window Example:

Update Master Accounts Prompts

Year End Financial Statements Have Been Printed

CAUTION:

This routine updates the Account Beginning Balances and zeroes out the Period Balances.

You must run your financial statements before running this routine.

To specify if you have printed the Management Reports (Financial Statements):

To confirm that the statements have been printed, select the box.
To indicate that the statements have not yet been printed, de-select the box.
Note: If the box is de-selected, you will see the following message:

You must select the box to run the routine.

To run the routine, click Proceed or press [ENTER].

Keyboard shortcut: [ALT + p]

Or, to run the routine to the Print View screen, click Print View .

Or, to escape from the routine, click Cancel .

Keyboard shortcut: [ALT + c]

Note: When Done displays, the routine is completed.