Category Archives: TOP General Ledger

General Ledger End of Year Closing Procedure

Select General Ledger on the TOP Main Menu  –>  Select General Ledger System Menu  –>  Press F5 to set your date to the last day of the year you are closing  –>  Select General Ledger End-Of-Year Processing

Messages will display on your screen to make sure you have made all journal entries for the year prior to closing:

YOU HAVE SELECTED TO CLOSE THE YEAR
Entries Cannot Be Made To A Closed Year

Press any key to continue:

      Warning! Entries Cannot Be Made To A Closed Year
All Posting And Journal Entries
Must Be Completed Before Closing The Year

 Press any key to continue:

Type Yes to begin the year-end update for the year-end date displayed  –>  Type Yes to clear yearly summary of postings for the current year

Select a printer for the Period Summary of Postings —>  TOP will post closing entries to all income and expense accounts so the beginning balance for the new year will be zero

Type Yes if the summary of postings printed correctly  –>  Type Yes if the trial balance printed correctly

Message on your screen displays that the Year-End Processing has been completed. The current period and the date for the new year is updated in Accounting Period Maintenance.

General Ledger End of Month Procedure

Select General Ledger on the TOP Main Menu  –>  Select General Ledger System Menu  –>  Press F5 to set your date to the last day of the month you are closing  –>  Select End-Of-Period Processing

Current Accounting Period and Ending Date will display on your screen  –>   Type Yes to continue

EOM_PROCEDUREPeriod End Processing Procedures display on your screen  –>  Type Yes to continue with the period-end procedure

TOP will check to make sure all journal entries, recurring entries, allocating entries and tax provisions are updated for the current month. You have the opportunity to select to print the summary of postings, trial balance and financial statements to a printer or to a PDF file stored in the EXPORT folder.

Notes:

TOP will keep track of each procedure as it is completed. If you exit the process at any time, the end of month process will continue where it left off upon reentry. System will automatically update the current period in Accounting Period Maintenance upon completion.

 

G/L End Of Day Closing Procedures

Below is a check list for a normal TOP End of Day closing procedures for General Ledger:

  1. Select General Ledger on the TOP Main Menu -> Select General Ledger System Menu
  2. Press F5 to set the module date to today’s date
  3. Print the End of Day Processing report and Update
  4. Press F5 to set the invoice date to the next day’s processing