YEAR END ADJUSTMENT

A2000 ONLINE SUPPORT DEPARTMENT

KNOWLEDGE BASE
Year End Adjustment

A year end adjustment refers to the process of reviewing and reconciling financial records at the close of financial period to ensure they are accurate and reflect the true financial position of a business. It typically involves making adjustments to the accounts before preparing the final financial statements. 

Year-end adjustment will only be accessible if the user already completed a year-ending (GY) in the system.
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Process:   How to perform year end adjustment in A2000 ERP?

1. To perform the year-end adjustment, you may go to the Year Ending Option screen to perform the year-end adjustment.

    1.1 Input the year you wanted to perform the adjustment. 
    1.2 After key-in the year, you may click the button ''Proceed Year End Adjustment'', and a GY transaction            will be created, it can be view under Year Ending Audit Adjustment Screen. 

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2.  A. After performing the year-end adjustment in the YEAR ENDING screen, please proceed to the Year Ending Audit Adjustment screen and look for the TRN created from YEAR ENDING screen. After that, kindly input the correct retained earnings amount.

        B. After input the correct retained earnings in Year Ending Audit Adjustment screen, you may go to Year Ending Screen also to verify because the figures you input in Year Ending Audit Adjustment will automatically reflect in YEAR ENDING SCREEN.

NOTE: User can able to input different accounts other than current year endings and retained earnings but every transaction can only proceed with two accounts. 

Note: User can perform multiple GY for Audit Adjustment and can create only 2 line details in each GY transaction.

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