### Year-End Process Overview
1. What is a Year-End Process?
In India, an accounting period can begin on any day of the calendar year but must consist of twelve consecutive months (52 weeks). At the end of this period, the account books are closed, profits or losses are calculated, and financial reports are prepared for filing. The financial year in India runs from April 1 to March 31.
2. How to Perform the Year-End Process in RPOS7
The year-end process in GoFrugal RPOS7 is straightforward and must be executed on the server. When you open the application on April 1, you will receive a confirmation message to process the year-end. Click "YES" to complete this process; the application will restart automatically. Afterward, you can log in to RPOS7 and begin making transactions. The transaction numbering will start from 1.
3. How to Perform the Year-End Process in TRAC
After completing the year-end in RPOS7, you will be able to conduct transactions. However, if you want to carry forward the previous year's account data in TRAC, you must also complete the year-end process there.
Follow these steps:
- Open TRAC: Accounts → Financial Accounting
- Select Process → Year-End Process
- Verify the current financial year and the new financial year, then click "Year End."
4. Is it Mandatory to Complete the Year-End Process in TRAC for POS Billing?
No, you can do the TRAC year-end later. Completing the TRAC year-end will carry forward outstanding balances from the previous financial year as opening balances for the new financial year. After the POS year-end, you can continue billing, and the TRAC year-end can be addressed later.
5. What Happens to My Bill Series After the Year-End Process?
By default, all transaction bill series will reset and start from 1.
6. Can I Continue Using the Same Bill Sequence Number Series?
While it is not recommended to use the same bill series after the year-end, customers who wish to do so will need to enable a one-time critical configuration.
7. Is it Possible to Edit Previous Year Transactions?
During the year-end process, you have the option to lock the previous year's data. If you did not select the "lock the previous year data" option, you can edit previous year transactions in TRAC. After making any necessary changes, you must complete the year-end process again to carry forward the updated balances to the new financial year.
8. Why Are My Last Financial Year Details and Balances Missing in the New Year Data?
If the year-end process has not been completed in TRAC, the previous financial year balances will not be carried forward to the current financial year. Ensure that you complete the year-end process in TRAC, and then verify that the old balances have been carried forward.
Note: Pending transactions will carry forward to the new financial year in TRAC. If you wish to view settled data from the previous year, change the financial year in TRAC to access last year's data.
9. Can I Perform the Year-End Process on Any Day After the New Financial Year Has Begun?
Yes, whenever you open RPOS7 for the first time in the new financial year, it will prompt you to complete the year-end process. You can do this at that time and proceed with your operations. You will not be able to create bills in the new financial year without first completing the year-end process.
10. I Don't Want to Complete the Year-End Process but Need to Continue Billing Due to Pending Bills. How Can I Do That?
You can temporarily change your computer's system date to any day before April 1 (in the previous financial year), which will allow you to make transactions that will be saved with that date.
Note: This approach is not recommended by GoFrugal.
11. I want to edit transactions made in the last financial year. Can I do that?
Yes, you can change the system date to the previous financial year and log in to the application to make changes to the transactions. After making the changes, log in again with the current date.
It is advisable to complete the year-end process in TRAC after making any changes to ensure that the correct data is carried over to the new financial year.
12. What happens to the balances of suppliers/customers after the year begins?
Once the year-end procedure is completed in RPOS, you should perform the year-end in TRAC. After the year-end is done in TRAC, the closing balance of suppliers/customers from the previous financial year will be transferred as the opening balance of the current financial year. If the year-end is not performed in TRAC, the balance will be shown as 0 in the new financial year.
13. How can I skip last year’s account details and start using TRAC accounts with fresh ledgers?
If you want to start fresh with your accounts, there is no need to perform the year-end process. Simply choose the current financial year (new) and start entering transactions. All the ledgers will be fresh, and TRAC will not carry forward last year’s data into the new financial year.
14. Is it possible to start using the software fresh from this new financial year?
Yes, if you don't want any previous transactions, you can perform a practice data cleanup. This will delete all transactions and balances but will retain masters and print design. Check the
self-help video here.
15. Is it possible to set a customized starting bill prefix after the year begins?
Yes, you can do this using the Bill Prefix Master in Sales -> Masters -> Bill Prefix.
Note: This feature is available in the professional edition for free and as a custom license for other editions.
16. Can a specific transaction be transferred to the new financial year?
No, it is not possible to transfer a particular ledger type or balance from the old year data. The GoFrugal TRAC year-begin process will transfer all your debit and credit balances to the new financial year.
17. Where should I edit my ledger's opening balance, in the last year or in the new year?
Regardless of the financial year, you should follow these steps: In GoFrugal Trac -> Masters -> Opening Balance Entry. Here, you can change or enter the opening ledger balance for a particular ledger.
18. I want to change my GST type to composite after the year-end.
After completing the year-end, before making any transactions, please change the registration type in Tools -> Masters -> Registration Master.
19. I am currently registered as a composite GST type. Can I change my GST type to Regular/Unregistered after the year-end?
Yes, after the year-end is completed, and before making any transactions, please change the registration type in Tools -> Masters -> Registration Master. Watch this self-help video for instructions:
https://www.youtube.com/watch?v=So62rkcZJkQ. Choose your preferred registration type and save the changes.
20. After the year-end, why is my customer/supplier outstanding balance shown as zero?
This occurs because you have not completed the year-end process in TRAC. Only after the year-end process is executed will the previous year's balances be carried over to the new financial year.
21. How can I see customer outstanding balances as of today?
Please go to Accounts -> Reports -> Outstanding -> Outstanding Reports -> Customer-wise Outstanding Summary based on date.
22. What will happen to my creditors and debtors' balances after the year begins?
All debit and credit balances will be carried over to the new financial year once the year-begin process is completed in GoFrugal TRAC.
23. How will I handle returns of goods from the previous year in the new financial year? Will the year-end process affect this?
The return process remains the same, and the year-end process will not affect return transactions. You can proceed with sales and purchase returns as usual.
24. I want to conduct a stock count and perform a physical inventory. How do I do this in the software?
25. Can we perform the year-end process in the client application?
No, the year-end process must be completed on the server. After that, you can continue making transactions in the client application.
26. When making backdated entries by changing the system date, is it possible to create current financial year bills in one counter while making backdated entries in other counters?
By default, all counters will use the server's date and time. Therefore, you can change the server's system date/time and conduct billing in all counters simultaneously.