End of Period [U04]: Yearly Updates
This is part of the End of Period [U04]
group. For an introduction to End of Period and links to all the End of Period documents, refer to
End of Period [U04]: Overview.
Contents
- Clear Year-To-Date Fields [U0482]
- Year-End File Build [U0481]
- Zero Monthly General Ledger Accounts (EOY) [U0450]
Introduction
Below are descriptions of the updates that can be set to run as part of End of Year. The updates are listed in alphanumerical order by title. Note that the list is not in module execution order. The Module List section of End of Period [U04]: Overview provides a list of modules in execution order.
Clear Year-To-Date Fields [U0482]
This module zeroes all year-to-date information on the Master Financial (RLS)
and Asset (REQ) files.
Additionally, this will allow the ability to track prior year-to-date data at the lease level. The EOY process will move the year-to-date data from the lease table to the new table Year to Date History, just before all fields are cleared. The Y-T-D data will be stored per lease per year on the RYH table. Assets or Notes payable Y-T-D information will not be saved. All Y-T-D History will be deleted when the Closed Lease Cleanup [U0419] is processed.
The year-to-date information cleared is:
- Master Financial file (RLS)
- year-to-date rental income
- year-to-date net receipts
- year-to-date other income receipts
- year-to-date lessor income accrued
- year-to-date vendor income accrued
- year-to-date investor income accrued
- year-to-date IDC/IDR accrued
- year-to-date ITC income accrued
- year-to-date escrow received
- Asset file (REQ)
- year-to-date book depreciation
- year-to-date federal depreciation
- year-to-date state depreciation
- year-to-date ITC
- year-to-date ETC
- year-to-date net receipts
- year-to-date other income receipts
- year-to-date
loss
Skip Comments: This update should be skipped if the Year-End File Build [U0481] update failed to complete successfully. If this update is skipped and End of Year completes, the information detailed above must be cleared manually (e.g., through Sybase SQL). If they are not cleared, the Taxable Income report [R0301] will erroneously count receipts twice for the next year.
Year-End File Build [U0481]
This module creates the End of Year Asset Tax (RYR)
file to be used to create the end of year tax reports. Information on all current
assets, both on- lease and in inventory, as well as all assets sold during the
past year is stored in the End of Year Asset Tax (RYR)
file.
Skip Comments: This update should not be skipped unless the entire End of Month and End of Year are also skipped.
Year End File Build Report
The Year End File Build report [U0481] reports at the asset level and contains
the following information:
- PORT
The number of the portfolio is displayed.
- COMP
The number of the company is displayed.
- REGN
The number of the region is displayed.
- OFFIC
The number of the office is displayed.
- LEASE
The number of the lease is displayed.
- ASSET
The number of the asset is displayed.
- EXCEPTION
TYPE
A message is displayed indicating why the information for the asset is not stored in the End of Year Asset Tax (RYR) file. Possible error messages and their meanings are:
- ASSET
WAS SOLD AFTER THIS YEAR END
This message indicates that this asset should be reported as sold on next fiscal year's Year End report.
- ASSET
WAS SOLD BEFORE THIS YEAR END
This message indicates that this asset should not appear on this fiscal year's Year End report.
- ASSET
WAS SOLD AFTER THIS YEAR END
Zero Monthly General Ledger Accounts (EOY) [U0450]
This module zeroes out monthly debits and credits for all General Ledger accounts
for each office. It also clears balances in all income and expense accounts (except
reserve accounts) on LeasePak's General Ledger. If this module is not executed
monthly, the month-to-date debit and credit amounts reflect an accumulation of
months' work. Regardless of whether it is executed monthly, this module automatically
executes at the end of the year. This provides the ability to store year-to-date
totals, instead of month- to-date totals, by suppressing this module on a monthly
basis.
Note: A switch on the Custom General update [U0712] may be set to Y so that before sales tax records are zeroed out, they are stored in a separate DTR.SEQ file which is never manually deleted. This may be used for interfacing with tax subsystems.
Skip Comments: If this module is skipped, monthly debits and credits are not cleared for the current month. If a monthly interface to an outside General Ledger system is completed, then next month's General Ledger numbers include the current month's information, effectively double-counting the current month's information.
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