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How to: Perform a Period End

Solution

Overview:

The Period End process is the vehicle MISys uses to pass Debit and Credit values (for MISys transactions) to the General Ledger in your Accounting Package. This function scans the MISys Master Transaction Log for any transactions within the specified Date Range that have not yet been included in a Period End and sends the Debit/Credit values (for those transactions) to the General Ledger.

NOTE: Once a transaction is included in a Period End, the system will then flag that transaction as "Posted to the GL". This ensures the same transaction will not be included in a Period End more than once.

Steps:

  1. Backup your Accounting database.
  2. Navigate to MISys > Accounting > Period End.

  3. Define the Dates you wish to include in this Period End.

  4. Click the Check for Prior Journal Entries check box to include transactions that fall outside your date range. NOTE: The system will only include transactions that have NOT been already included in a previous Period End.

  5. Select the Take Inventory Snapshot if you wish to add a snapshot of your current Inventory Quantity (and Item Cost). NOTE: This snapshot is available for review within the Stock Movement Function. Please consider that Inventory Snapshots record the Quantity in Stock of every Item at every Location and (depending on the number of Items/Locations you have) this snapshot can take some time to process. Further, over time an accumulation of Inventory Snapshots can add a substantial amount of size to your database.

  6. Click Post.

  7. Make sure you click Yes when prompted to take a Backup of your Company. We ALWAYS suggest taking a backup of your database before Posting a Period End. Specifically if this process fails for any reason prior to completing, there is no way to isolate the point of failure and you will need to restore both your MISys and Accounting database and run the process again.

  8. You will receive a confirmation prompt and Journal Number once the Period End has completed successfully.

NOTE: You can use the Print Unposted Button to get a preview of ALL Debits/Credits that have not yet been posted from MISys to your General Ledger. Use Print Last Posted to launch the Subledger Report for the last Period End that was performed.

 
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Article details
Article ID: 66
Category: Accounting
Date added: Sep-08-2014: 3:12pm
Views: 854
Rating (Votes): Article rated 3.4/5.0 (35)

 
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