Year Begin Process for International Customers - ServQuick

Year End Process for International Customers

Purpose: This document provides step-by-step instructions for completing the year-end process and creating a new financial year in ServQuick. Follow these directions carefully to ensure accurate closing of the current financial year and proper initialization of the new one.

 

Step-by-Step Instructions  

1. Navigate to the Year-End Process Module  

• Navigate to the Accounts module in Servquick.

2.In the Accounts module, choose the Finance and Accounts section.

Purpose:
The Year End Process signifies the closure of an accounting year for all financial transactions. Once the Year End Process is completed, any financial transactions recorded thereafter will be posted to the new financial year.

Note:
Before executing the Year End Process, ensure that all transactions related to the previous financial year have been fully completed and posted. No entries for the previous financial year should be made after the Year End Process, as this may result in discrepancies and report mismatches.

3.Menu Access: In Finance and Accounts, click Tools --> Year End Process

4.Press ENTER or TAB in Location and select ‘All’ from the pop-up screen.

5.Specify the closing Tran Year or press ENTER to select the closing Transaction Year from the pop-up screen.

6.On selecting, Next Financial Year Begin Date appears automatically.

1. Press ENTER or TAB in Profit & Loss Ledger and select the ledger.
   
2. Type ‘N’ or ‘n’ in Force Year End [Y/N].

Force Year End Y/N both will do the same process,

The difference between Y & N is,  N refers to, you are attempting year end process first time for the FY 25-25, (i.e - second time you use N and do year process you will get message already year process is completed for the FY 25-25)

Y refers to, you want to do year end again (second time) as you made some modifications in last FY 25-25. 

Note - if you made any new opening balance (manual opening balance) for any party in Current FY(25-25) it will show caution message stating you have manual opening balance entry's so after year end process you have to re-enter the manual opening balance for the respect party's  

7.Click Run Year End.

The following successful message appears after closing the accounting year and press 'OK'.

Year Begin Sequence Changes 

 

Note :

* After completing the yearend process kindly go to TruePOS screen and 

1.Navigate to the path "Settings --> Organization--> Company info

2.Change the 'Fiscal Year Start' date as current Financial Year date and save the changes.

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