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AMSA Year End Process

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Checklist (before year end process)

1) Customer must confirm as follows :-

complete keying in all last year transactions (i.e.last accounting period)

2) There is only one retained earning account at AMS

3) Customer to email request to Netiquette to go ahead with year end process.

4) Customer must inform all users to logout during year end processing.
This is to avoid data corrupt.

5) The maximum period for AMSA is only 18 period.
Make sure the same period in AMSA and IMSA (manually change period to 12).
Reason – the period must be the same during posting from IMS to AMS.

6) The changes at AMSA after year end process

• All transactions in previous accounting year eg year 2013 will be moved
to another database (eg login same user but co id, key at “xxxx13”)
• System will update all ledgers to the B/F Balance (brought forward) in
the new year data (login same co id, no change)
• Accumulated profit will be transferred to Retained Earning account.
• Transactions of the period 13-18 will be bought forward to period 1-6
in new accounting year

7) After year end process is done, amsa in-charge can check the following reports.

eg.

  • Profit & Loss
  • Balance Sheet
  • Debtor Aging Report vs Debtor Statement of Account
  • Creditor Aging Report vs Creditor Aging Report
  • Bank Reconciliation Statement
  • Foreign Currency Report (select a few report)

Please inform Netiquette of any reports which do not tally

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