U04 End of Period
U0487 Zero Monthly General Ledger Accounts (EOY)
| EOP Only | Yes |
| Frequency | Yearly |
| Sequential Updates | No |
| Skip Notes | See comments below |
For more information about End of Period,
refer to U04 End of Period Overview.
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 more than one month's 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.
Setting "SAVE RTR (DTR) SALES TAX RECORDS" to 'Y' in U0712 Custom General→Miscellaneous Customizations will save sales tax records to a RTR.SEQ file before zeroing out. This RTR.SEQ file is never deleted and may be used for interfacing with tax subsystems.
Skip Notes: 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 for a particular month, then the next month's General Ledger numbers will include the previous month's information and no longer be accurate for an individual month.
Following are the general ledger account for EOY - monthly general ledger account debits and credits made by this update for supplemental depreciation:
- ACCUMULATED SUPPLEMENTL DEPRECIATION
- SUPPLEMENTAL DEPRECIATION EXPENSE
- EOT SUPPLMENTL DEPRECIATION RELEASE
Following are the general ledger account for EOY - monthly general ledger balances zeroed out debits and credits made by this update for supplemental depreciation:
- SUPPLEMENTAL DEPRECIATION EXPENSE
- EOT SUPPLMENTL DEPRECIATION RELEASE
Following are the IDCs general ledger accounts which will be zero out monthly credit and debit accounts for IDC8, IDC9, and IDCA-IDCH fields:
- IDC8 - FASB91 INCOME ADJUSTMENT
- IDC9 - FASB91 INCOME ADJUSTMENT
- IDCA - FASB91 INCOME ADJUSTMENT
- IDCB - FASB91 INCOME ADJUSTMENT
- IDCC - FASB91 INCOME ADJUSTMENT
- IDCD - FASB91 INCOME ADJUSTMENT
- IDCE - FASB91 INCOME ADJUSTMENT
- IDCF - FASB91 INCOME ADJUSTMENT
- IDCG - FASB91 INCOME ADJUSTMENT
- IDCH - FASB91 INCOME ADJUSTMENT
- IDC8 - SUSP FASB91 INCOME ADJUSTMENT
- IDC9 - SUSP FASB91 INCOME ADJUSTMENT
- IDCA - SUSP FASB91 INCOME ADJUSTMENT
- IDCB - SUSP FASB91 INCOME ADJUSTMENT
- IDCC - SUSP FASB91 INCOME ADJUSTMENT
- IDCD - SUSP FASB91 INCOME ADJUSTMENT
- IDCE - SUSP FASB91 INCOME ADJUSTMENT
- IDCF - SUSP FASB91 INCOME ADJUSTMENT
- IDCG - SUSP FASB91 INCOME ADJUSTMENT
- IDCH - SUSP FASB91 INCOME ADJUSTMENT
- IDC8 AMORTIZATION
- IDC9 AMORTIZATION
- IDCA AMORTIZATION
- IDCB AMORTIZATION
- IDCC AMORTIZATION
- IDCD AMORTIZATION
- IDCE AMORTIZATION
- IDCF AMORTIZATION
- IDCG AMORTIZATION
- IDCH AMORTIZATION
- IDC8 - SUSPENDED AMORTIZATION
- IDC9 - SUSPENDED AMORTIZATION
- IDCA - SUSPENDED AMORTIZATION
- IDCB - SUSPENDED AMORTIZATION
- IDCC - SUSPENDED AMORTIZATION
- IDCD - SUSPENDED AMORTIZATION
- IDCE - SUSPENDED AMORTIZATION
- IDCF - SUSPENDED AMORTIZATION
- IDCG - SUSPENDED AMORTIZATION
- IDCH - SUSPENDED AMORTIZATION
- IDC8 - TOTAL RESERVES PAYABLE
- IDC9 - TOTAL RESERVES PAYABLE
- IDCA - TOTAL RESERVES PAYABLE
- IDCB - TOTAL RESERVES PAYABLE
- IDCC - TOTAL RESERVES PAYABLE
- IDCD - TOTAL RESERVES PAYABLE
- IDCE - TOTAL RESERVES PAYABLE
- IDCF - TOTAL RESERVES PAYABLE
- IDCG - TOTAL RESERVES PAYABLE
- IDCH - TOTAL RESERVES PAYABLE
- IDC8 - ALT: LEASE INCOME ADJUSTMENT
- IDC9 - ALT: LEASE INCOME ADJUSTMENT
- IDCA - ALT: LEASE INCOME ADJUSTMENT
- IDCB - ALT: LEASE INCOME ADJUSTMENT
- IDCC - ALT: LEASE INCOME ADJUSTMENT
- IDCD - ALT: LEASE INCOME ADJUSTMENT
- IDCE - ALT: LEASE INCOME ADJUSTMENT
- IDCF - ALT: LEASE INCOME ADJUSTMENT
- IDCG - ALT: LEASE INCOME ADJUSTMENT
- IDCH - ALT: LEASE INCOME ADJUSTMENT
Following are the general ledger accounts for IDC ASC 842 balances that will be zeroed out for monthly credit and debit accounts:
- UNAMORTIZED IDC COST - ASC 842
- SUSPENDED IDC ACCRUED - ASC842
- IDC OFFSET - ASC 842
- IDC AMORTIZATION - ASC 842
- DEFERED IDC AMORTIZATION - ASC 842
- DEFERED SUSP IDC ACCRUED - ASC 842
Reference Guide |
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The information contained in this document is the sole property of NETSOL Technologies, Inc. Use of the information contained herein is restricted. Conditions of use are subject to change without notice. NETSOL Technologies, Inc. assumes no liability for any inaccuracy that may appear in this document nor does it have the obligation to update any of the information contained herein; the contents of this document do not constitute a promise or warranty. The software described in this document is furnished under license and may be used or copied only in accordance with the terms of said license. Unauthorized use, alteration, or reproduction of this document without the written consent of NETSOL Technologies, Inc. is prohibited.