RIMAS for DOS Software

To: All Users of (Advanced) RIMAS for DOS

From: The SHARED LOGIC Group, Inc.

Re: Processing Year End Close

Date: April 16, 2002

Use this Reference Guide in conjunction with the "END OF PERIOD RUNS" section, of the General Ledger portion of the tutorial. Please read the section thoroughly before proceeding with "Year End".

1. Run (Close Audit Period) from the END OF PERIOD RUNS SUB-MENU.

2. Make all possible entries for the current year and post.

3. Print reports for all areas of the system.

4. Run End of Month Run in A/P, A/R and G/L through last day of year.

5. Clear periodic (yearly) totals in Commodity Inventory.

6. Create and Post Closing entries in G/L.

7. Choose End of Year Run from the General Ledger End Runs submenu. This program will transfer the totals of the accounts from the current year to one year past and transfer the history to the audit transaction history. When you have completed this step, you may begin posting for the new year. You need not wait until you receive your accountants audit entries.

8. Enter Audit Journal entries.

Only General, type "G", transactions may be entered.

It is possible to enter sixteen Accounts per page.

Audit entries automatically update the beginning and current balances of the Balance Sheet accounts.

Audit entries that affect either an expense or an income account.  Go to the Beginning balance of the "Current Year Income" account in the current year, when you run (#8) Create and Post Closing Entries in the audit period.  After all your Audit entries are entered and posted, the Beginning balance of the Current Year Income account must be manually transferred to the beginning balance of the Retained Earnings account.  This is the only balance that is transferred manually.  (See #14 of these instructions for directions).

9. Print Audit Journals prior to posting. If you wish, you may print with additional options.

10. Post Audit Journals.

11. Print Audit Trial Balances. You may choose to print the Audit trial balance for a given period or year to date.

12. Print Audit Transaction History. This provides an excellent audit report.

13. Create and Post Closing Entries in Audit Period.

14. After everything is in balance, you must manually transfer the balance of the Current Year Income account to Retained Earnings.

Go to Special, Maintenance, General Ledger, Accounts to obtain the Beginning balance of the Current Year Income Account and clear the Beginning balance. Access the Retained Earnings account and add the balance you obtained in the Current Year Income Account to the beginning balance of the Retained Earnings Account.

Print a current Trial Balance to make sure you are in balance.

15. You may close the Audit Period after you have everything in balance or, you may leave it open until you are ready to run year end again.

16. If you have any entries to make outside of G/L after the year is closed, you must make them in the appropriate module with the correct date and fiscal period.  These transactions will post to the current year.  After you make all of your entries for the prior year, you must make a reversing journal entry in the current year and an audit journal entry in the prior year to transfer the amounts to the prior year.