End of Period and Reverse End of Period
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Location... Administration menu.
End of Period
Use this screen to "close off" or "roll over" the trust account at the end of an accounting period.
Field use is mainly self-explanatory.
Discussion
At the end of each accounting period it is usual for the accounts to be "closed off", sometimes termed "rolled over", which is what this job is all about. The purpose being to "rule a line" under the accounts at a given point thereby make dealing with your landlords, tenants and suppliers easier. Although a period can be any length of time for most users it corresponds to a calendar month.
See End of Period In Depth for more details on the administrative steps that will need to be performed at the end of the accounting period.
This program is the final step in the end of accounting period process in that it:-
closes the current period so that old transactions can not be fiddled with
opens a new one where all new transactions are entered
creates B/Fwd records in all transaction files
creates Rent Inv records in the tenant transaction file for the new period
performs other housekeeping activities
and produces some reports.
End of Period Report
The End of Period processing produces a modified version of the Control Report which contains some statistical information and will carry warning messages if the checking done by the program find any error in the database. The report is saved in ...\PropMan\Reports\Admin directory and can be reprinted using the View Saved Reports choice found on most Reports menus.
The statistics include:-
Total landlords and landlords with at least one managed property. Deducting this figure from the total landlords may not give you the non-managed landlords because a landlord may have both managed and non-managed properties.
Total properties broken down to managed and non-managed.
Total tenants broken down to those in managed and non-managed properties.
Total vacated tenants broken down to those in managed and non-managed properties.
Total current tenants broken down to those in managed and non-managed properties.
Number of Suppliers
Note The criteria for a property etc being managed is determined by the setting of the managed flag on the Property record.
Reverse End of Period
Take a back-up before using this function.
As happens from time to time, End of Period is run before it should have been, or there has been a "catastrophic oops" and it would be nice to get back to pre-End of Period. Consider whether you would be better off returning to a known back-up point and working forward rather than run this function. However, if you inadvertently run the End of Period processing prematurely this process will return you to the previous period.
It does this by deleting all transactions, except Tenant Debt records, because they may be part of a schedule of debt repayments, and returning balances etc to the point immediately prior to the End of Period. Instead they remain in the system and will be moved backwards into the previous period.
Bond transfers which are in the period being reversed are also lost and will need to be re-entered.
Any bank reconciliations which include transactions in the period being reversed are "undone" (because the transactions no longer exist) and will need to be repeated once the problem is fixed.
After fixing whatever was missed or wrong reconcile the system and re-run the End of Period.
Related Topics
End of Period In Depth