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Fastbase Accounting System - Online Manual

Reversing the Period End Procedure

Document 104166/1

Entered Wed, 25 Feb 2004 09:37 by Peter Campbell
Updated Wed, 25 Feb 2004 10:01

From time to time users run the period end procedure(s) then realise they have made mistakes or left items out that really need to be entered into the correct period.

In most cases the best practise is to simply use the General Ledger Journal transaction; enter a journal in the period that was effected (and closed), enter the transactions or adjustments as required in the current period and enter a reversal of the journal in the current period.

In the event that a period end must be reversed follow this procedure:

Contact your FastBase support staff (they will then talk you through the following steps).

Log into FastBase as the super user.

If the period/transactions that you are reversing has already been updated to the General Ledger (via GENERAL LEDGER UPDATE) you must first delete the 'General Ledger Update' batch or batches. To do this select the menu: Transactions - General Ledger - Journal. Select each batch with the title 'General Ledger Update' and the date of the period being reversed, click on the 'Maintain' button and press the 'Delete' button to delete the batch. See General Transaction Notes for more details.

Select Processing - Period End - and the appropriate module.

Enter the 'Current Period End', this should be changed to two months prior to the current date shown. To make the current period end say '31/01/2004' you should enter the current period end date as the month before, ie: '31/12/2003'.

Once the period end process has finished exit fastbase and log back in under your own name.
Enter your transactions/adjustments as normal then re-run the period end procedure.

If you had to delete the GENERAL LEDGER UPDATE then re-run this procedure also.

As you can see there is quite a process involved in reversing a period end and as such it is not recommended unless absolutely necessary.

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