01. How to do the "Year End Process" in Trac?

Answer:

1. Go to Accounts → Financial Account → Process → Year End Process.

2. A pop-up box will appear as shown below. Click the YEAR END button.

3. Let the process complete.

4. Verify if the financial year has changed in TRAC, which will be visible at the top left corner.

02. How to make the year-end process company-wise in Trac?

Answer:

1. Select the company from the top.

2. Then go to Process → Year-End Process.

03. Can the year-end process be done later in Trac?

Answer:
Yes, the year-end process in Trac can be performed at any time after completing the year-end in POS (Rpos 7).

04. What if the customer outstanding is not showing after the year-end process in bill-wise receipt and receipt screen?

Answer:
It could be because an edit was made after the year-end process. In this case, the year-end process needs to be done again in Trac.

05. What if the supplier outstanding is not showing after the year-end process in bill-wise payment and payment screen?

Answer:
Similar to customer outstanding, this may be due to an edit made after the year-end. You will need to perform the year-end process again in Trac.

06. How to check whether the year-end is completed or not in Trac?

Answer:
At the top left corner, double-click on the year. If the year is 2026-2027, the year-end process has been successfully completed.

07. How to check the ledger report?

Answer:
Follow these steps:
Trac → Reports → Account Books → Ledger Report.

08. How to change the company name before year-end?

Answer:

1. In the top right corner, double-click and select the company.

2. Once selected, proceed with the year-end process.

09. How to check last year's closing balance and the current year's opening balance?

Answer:

1. Change the year at the top right end .

2. Go to Reports → Account Books → Ledger.

3. The closing balance from the last year will be reflected as the opening balance for the current year.

10. Is it possible to carry forward expense entries?

Answer:
No, expense entries will not be carried forward.

11. If the last gross loss shows, when will it reflect for this value in the current year?

Answer:
Check the Reserves and Surplus ledger under the Ledger Report for details about the last year's gross loss and its reflection in the current year.

12. Which system (server or client) can perform the year-end process?

Answer:
The year-end process can be done on both the server and client systems.

13. Is it possible for a new voucher number to be generated after completing the year-end process?

Answer:
Yes, the new voucher number will be generated from Voucher Number 1.

14. Is it possible to modify last year's entries after the year-end process?

Answer:
Yes, it is possible. However, you need to perform the Year Begin Process first.

15. In some ledgers, if the year-end does not happen, what should be done?

Answer:
Check the expense ledger or any modified ledgers from the previous year, and perform the year-end process again.

16. How to modify the opening balance value in Trac?

Answer:
Go to Master → Opening Balance Entry. Load the ledger name, press FR key and then use Backspace in the credit or debit column to enter the new values.

17. How to make opening balance entry in Trac?

Answer:
Go to Master → Opening Balance Entry.

18. How to set all supplier and customer outstanding values to zero?

Answer:
Contact the support team for assistance with this.

19. What should be done if an "invalid financial year" error appears during payment/receipt entry?

Answer:
Ensure that you are entering the correct financial year. Double-check the financial year you are working with.

20. What does the Year Begin Process mean?

Answer:
The Year Begin Process refers to setting the last year's closing balance as the current year's opening balance.

21. How to check last year's profit in Trac?

Answer:
Go to Trac Settings → Company/Financial Period Settings. Here, you can view the Profit and Loss Account.

22. Will the master edits reflect in the year-end process?

Answer:
Yes, the edits made in the master will be reflected after completing the year-end process.

23. Is it possible to edit last year's entries?

Answer:
Yes, it is possible to edit last year's entries once the Year Begin Process is done.

24. Is it possible to start with a particular serial number account?

Answer:
Yes, go to Master → Voucher Type Settings, select the transaction type, and choose Manual. This will allow you to enter a specific serial number.

25. What happens if the opening and closing balance values do not tally?

Answer:
Check the Year Begin Process or the ledgers that may be incorrect. Specifically, check if there are any discrepancies in expense-related ledgers.

26. How to check old year transactions in Trac?

Answer:
Go to Trac Settings → Company/Financial Period Settings to view the old year transaction details.

27. How to lock the previous year's transactions?

Answer:
In the Year-End Process screen, you will find an option to LOCK the previous year’s transactions.

28. How to unlock the previous year's transactions?

Answer:
To unlock the previous year's transactions, select the previous financial year, disable the LOCK option, and perform the year-end process again.

29. How to skip my last year's TRAC details and start using accounts freshly?

Answer:
If you wish to start with fresh accounts, do not perform the Year Begin Process. Simply select the current financial year (2026-2027) and begin entering new transactions. All old transactions will not carry over to the current financial year.