• Year End Close
  • About the Year End Close
  • The Year End Close command
  • About Multiple Year End Close
  • Undo Year End Close options
  • Accounts with Outstanding Transactions dialog
  • Multiple Account Distribution dialog
  • Actions performed during Year End Close
  • Filter by Roll Forward status
  • Year End Close and Roll Forward dialog
  • Configuring the Roll Forward column
  • Performing a Year End Close
  • Performing a Multiple Year End Close
  • Selecting multiple items to roll forward
  • Selecting single items to roll forward

About Multiple Year End Close

A Multiple Year End Close allows you to work with a new current year’s file, even though the previous year’s file is not yet complete. Once the prior year’s file is complete, another Year End Close can be performed from the prior year’s file to the new year’s already existing file. The new year’s data is not disturbed.

The Multiple Year End Close is useful for correcting balance issues such as those introduced through an improper import.

In this case, when performing the Year End Close, a new file name must be entered as you do not want to overwrite the existing file that you are closing. For example, the previous year’s file could be called ABC01. When performing the Multiple Year End Close, name the new year’s file ABC02. The file year-end date and processing period dates are automatically incremented by one year to reflect the new fiscal year.

Once final adjustments are completed, perform the Year End Close again to the same name (in this example, ABC02). Current and final balances in the ABC01 file replace the opening and prior balances in the ABC02 file. Transactions within the fiscal year of ABC02 are left untouched.

Note: When performing a close to an existing file, annotation and commentary text are not copied again.

Multiple Year End Close and SmartSync

Working Papers does not currently support Multiple Year End Close into SmartSync files or SmartSync Server files.

Workaround

• For SmartSync files, return the SmartSync parent file to a non-sync state and then proceed to complete the year end close. For more information, see Returning SmartSync Files to a Non-Sync State.

• For SmartSync Server files:
  • Where you have direct access to the SmartSync parent, return the SmartSync parent file to a non-sync state and then proceed to complete the year end close.
  • Where you do not have direct access to the SmartSync parent, synchronize all sync copies by opening each copy and going online with the top-level parent, delete all sync copies except one, in the one sync copy delete the _Sync folder using Windows Explorer, proceed to complete the year end close, and then use the Publish to Server feature to promote your non-Sync local copy to the server. The original parent copy should be removed from the SmartSync server.