The EP program prepares a ledger to begin a new accounting period. After creating a new
generation of files, EP adds current period account balances to year-to-date balances and sets the current period fields to zero.
If the new period begins a new fiscal year, the balance sheet is carried forward, year-to-date balances for all income and expense accounts are set to zero, and current-year earnings are posted to the appropriate retained earnings account(s).
If the new period represents a new calendar year, employer and vendor balances will be reset to zero, and you may optionally delete inactive employees and vendors.
During end of period processing, CLS displays the period-end date, fiscal period number and quarter-end date for the next generation. The dates and period number are incremented based on your response to the EP Period Increment prompt in program LI, Menu Selection 3 (1).
Depending on your response to the Prompt for EP Bal Forward question in program LI, Menu
Selection 3 (1), CLS may ask you at the end of a period or year if you want to carry balances forward.
Note: If you need to make additional entries to a previous generation, select the appropriate
generation number in Ledger Start-up (LS), make the entries and reclose the period.
During end of period processing, CLS will inform you that the new generation already
exists and ask if you want to keep existing transactions and period budgets. See Chapter
5 in the CLS Getting Started Guide, CLS Concepts, for more information on reclosing a
period.
End of Period Processing (EP) 1-37
End of Period Processing
Choose 1 to perform end of period processing, and the following screen appears:
The current value of each field is displayed. You may enter a new value for the field, or press Enter
to accept the current value.
Fiscal Period
Enter the fiscal period number corresponding to the new period-end date, or press Enter to accept
the default period supplied by CLS.
Period Ending
Enter the period-end date for the next accounting period, or press Enter to accept the default date supplied by CLS.
Note: CLS will automatically increment the period number and period-end date using the value entered at the EPPeriod Increment prompt in program LI, Menu Selection 3 (1), and period-end dates entered in program LI, Menu Selection 7.
Payroll Quarter-End Date
Enter the payroll calendar quarter-end date for the new period, or press Enter to accept the default date supplied by CLS. If you are processing a fiscal-year ledger on a quarterly basis, be sure to change the payroll quarter-end date so that it falls within the fiscal quarter.
Fiscal Year-End Date
If this is the end of a fiscal year, enter the fiscal year-end date for the new period, or press Enter to accept the default date supplied by CLS.
Bring Balances Forward [Y]
If you entered1 or 2 to Prompt for EP Bal Forward (0-2) in program LI, Menu Selection 3 (1), you will be asked at the end of each period or year if you want to bring ledger balances forward. Press
Enter to accept the default Y response and bring balances forward. Press N if you do not want to carry the balances forward.
Data Drive or Path
CLS displays the location of the current ledger files.
Backup Drive or Path
Enter the path where you want to store the current generation data files. The default backup drive or path is set in SI, Menu Selection 1 (4). If necessary, CLS transfers the current generation to the backup path and creates the new generation in the data path.
Note: A separate default back-up path may be defined in program SI, Menu Selection 1 (4), for use when closing a fiscal year.
Accept or Escape? (A,Esc)
Press A to continue. Press Esc to return to the Fiscal Period prompt.
The next file generation will be '014.'
You will see the following message only if you chosen to back up to a floppy disk drive:
TOTAL capacity of drive A (Bytes) Current FREE space on drive A
Add: space now used by generation ‘014’ files Less: space needed for new generation ‘014’ files
Space available on drive A after end of period processing Begin End of Period Processing? (Y,N)
The new file generation number and the available space for both the new generation and your backup files appear. Press Y to continue end of period processing or N to return to the EP menu. CLS displays the work in progress during end of period processing and indicates which files are affected. You may see:
Backing up 'JCC.013' files to C:\NEWCLS\TEMP... Creating a temporary next-generation transaction file Creating a temporary Source 6 transaction file… Accumulating employer tax liabilities
Series 100…
Updating files for 'JCC.014' in path C:\NEWCLS Updating account master file…
Updating payroll master file… Copying Source 6 transactions… Updating ledger control file
End of Period Processing is complete. Path C:\NEWCLS contains your backup files.
Your new ledger files are located in path C:\NEWCLS. *** End of End of Period processing ***
Select Program or press ENTER for the Main Menu
When EP is complete, you may begin working with the new ledger generation, or log onto another
ledger using the Ledger Start-up (LS) program.
If you are reclosing a period, you may see the following message(s):
This new file generation '014' already exists in path C:\NEWCLS Would you like to KEEPEXISTINGTRANSACTIONS? (Y,N)[Y]
Would you like to KEEPNEXTPERIODBUDGETS? (Y,N)[Y]
Would you like to UPDATE PAYROLL RATES WITH CURRENT RATES? (Y,N) [N]
If the end of period is also the end of the calendar or fiscal year, you may also see the following message(s):
Caution – End of calendar year. Payroll balances will be cleared. Caution – End of fiscal year. P&L balances will be cleared. End of calendar year...
Would you like to UPDATEPAYROLLRATESWITHNEXTYEARRATES?(Y,N) [Y]