My predecessor left a variety of year end procedures some of which conflict with other year end procedures. Neither are they in any chronological order. So I'm not totally sure on some of the areas which procedure has to be done first etc.

So my question is...

Does anyone know where I can find info on year end procedures for Baan. Has anyone got a procedure they use?

Hi

for final closing of the year you will have to

1. Run the session
'Automatic Balancing of Profit and Loss Account' tfgld6202m000

There two prerqusites for this- Transaction Type for Year Closing must be defined in Company Paramenetrs and
Last period for the year being closed must be open for GLD Module.

2. Running the above session creates a batch for closing the P&L. This batch should be finalised.

3. 'Finally Close all the periods' Session tfgld1206m000.

4.Run session 'Close year' session number tfgld6203m000. The session asks for a transaction type. This transaction type should be of the category 'Opening Balances'. The first period of the new year should be open for 'GLD' before running the session.

5. Running the above session creates a batch for opening balances in the new year. Finalise this batch.

This is the year closing procedure.

Regards

I don't agree with the year end precocedure as written by Jayant.
I've seen several year end procedure documents and they were pretty thick. Especially companies using Baan project as a sub ledger will need more then the 5 simple session steps mentioned

Hi -

You didn't mention what version of BaaN you are using, but if you happen to be on version 4c, there is a general year-end patch that should be applied before year-end closing procedures begin. The patch number is 15409. Alongwith this patch is a very well-explained detail of the steps to be taken for year-end closing. I have followed this procedure every year since we've gone live and have had no problems.

Regards,
Linda

... sorry not to have given more info.

We upgraded to IVc4 about a year ago.

all our manufacturing is controlled through project.

hope this helps those helping.

Hi -

We are also on IVc4, although we just upgraded from IVc2 this year. From what I've been told, the patch applies to all versions of IVc. Take a look - I think it will provide you with a great deal of information.

Good Luck!
Linda

A good summary of year end procedures is attached to the following thread: http://www.baanboard.com/baanboard/...hlight=year+end

The attachment does not discuss projects, however.

Scott

Hi,

Some confusion is bound to occur in the beginning. What is required is a systematic, step by step checklist. Since I also went through same problems, I prepared a detailed checklist for myself, incorporating the available material, support and testing transactions.

Please go through the attached checklist, and tell me if it works. I closed two years without any problems. We are also running B4c4 version only.

Note: Do not close any period "Finally" unless it is specifically stated in the checklist.

One word of advise. This checklist is intended to only to help you through the procedure. Before following any of the steps mentioned in this checklist, please verify the same with some authentic source, like consultants/BaaN support, and use it only after you are convinced.

All the best

I dont know why there should be a step for "automatically balance PL accounts" in BAAN.
Since there will be no impact to the next year, and the reult data will be also useless to the pervious year.
why not direclty "close year" after "provisional close year"?

I understand that the automatic balancing is a baan procedure which is required as opposed to optional.

The value of the result depends on what setting you have in parameters for the posting of the automatic balancing.

Hi -

The automatic Balancing is required because it is the step that clears your P&L accounts and moves the amount to the balance sheet account that you designated in the "Maintain Company Parameters" session, specifically the "Interim Closing Account" field.

This step actually creates a batch that must be finalized in order to procede with your year-end closing procedure.

The provisional close and close year sessions only move opening balances for balance sheet accounts; they do not affect your P&L accounts.

Hope this helps.

Regards,
Linda

Hi,

Lindan is right. Even functionally speaking, though the p/l items won't carry forward to the next year, the net result of all those accounts, net profit or loss will be carried forward to the next year as a balance sheet item, which forms a part of equity/shareholders fund.

For the same reason, you may note that the interim closing account maintained in form 3 of session “tfgld0103m000 – Maintain Company Parameters” is a balance sheet type account, and is nothing but the profit or loss for the year which will be carried forward to the next year.

Regards

thanks a lot for ur timely help.