Sage Pastel Evolution allows the storing of transactions for up to 60 periods / 5 years. There is no need to perform traditional month-end and year-end routines.
At the end of these periods one needs to purge the first year's details in order to allow processing to continue. At the end of the next 12 periods, purging will be required again.
This process does the following:
- Consolidates the first year balances, calculates any profit or loss for this year, and writes the profit/loss into a profit and loss account / retained earnings.
- Shifts the balances from the 2nd to the 5th year to Year 1 - Year 4 and clears the 5th year for future use.
- Deletes all transactions for the first year. Unreconciled cashbook transactions are not purged.
- Shifts and rebuilds the period table.
The year end procedure can be accessed from the General Ledger>Maintenance>Purge First Year menu option, or via the system tree General Ledger>Maintenance function.
It is important to:
- Backup the database prior to initiating this process
- Ensure all users are logged out
- Allow this procedure to finish - depending on the number of transactions present, this may take some time.
The following parameters need to be specified prior to running the Purge 1st year function:
- Account: The profit / loss for the first year end is posted to this profit and loss account
- Transaction Code: This transaction type will be utilized to post the transfer to the account code posted above.