Postings which apply only to this period and which are to be reversed next period must be made in the Management option.
Select Management to display a panel, select the first period to 30/06/07.
A further panel asks you to select the entry parameters
The first adjustments to be made are regarding closing stock so document type and double entry account are not required. Leave the panel blank and select OK.
Make the following postings:
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Now you need to start a new batch for the creditors at the year end. Select Input control, to display the entry parameters screen. Complete the panel as follows.
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Note that the management accounts document type numbers may be different depending on the number of new document types you have set up since you installed Accounts Production. However, the descriptions and the double entry accounts should be as shown in this tutorial.
Make the following postings for invoices relating to the current period but not yet paid:
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We need to make an adjustment for sales invoices raised before the period end for which cash has not been received.
Select Input control and complete the panel as follows:
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Make the sales adjustment:
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Finally select Input control and complete the panel as follows:
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Make the following posting for prepaid rent:
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Once all the postings have been made you can leave the Posting option and prepare the required reports (see - Reporting).