General Ledger year-end processing

This topic describes the General Ledger year-end processing tasks for Distribution SX.e.

Several General Ledger reports support year-end adjustments that might be required. Run these reports in detail, and save them as a file or email for auditing purposes:

  • GL Transaction Activity Report
  • GL Trial Balance Report
  • GL Balance Matching Activity Report
  • GL Balance Order Entry Report
  • GL Balance Purchase Order Report
  • GL Balance Transfers Report
Note: Do not change the current year in SA Administrator Options-Financials-Fiscal Year if you expect to do any back-posting. The correct year is updated automatically when GL Administrator Year End Report is run.

We recommend running GL Administrator Year End Report one time after all adjustments are made to complete GL year-end processing. Running the GL Administrator Year End Report also rolls the balance forward and zeroes out income and clearing accounts. It also sets the current year to the new year in SA Administrator Options-Financials-Fiscal Year.

Note: If your fiscal year does not match the calendar year, then running GL Administrator Year End Report to create a new Chart of Accounts for the calendar year may be required when entering your calendar year budget amounts. Then, you would run GL Administrator Year End Report again at the end of your fiscal year. Contact Infor support for assistance.

If you have completed GL Administrator Year End Report but additional adjusting entries are required, then perform these steps:

  1. Post adjusting entries through GL Transaction Entry.
  2. Redistribute profit through GL Administrator Distribute Profit Report. Do not post profit to account codes defined in SA Administrator Options-Financials-Profit Distribution by any method other than through GL Administrator Distribute Profit Report. The GL Administrator Year End Report is not required again.

If you have not completed adjusting entries, then perform these steps:

  1. Perform GL Administrator Year End Report.
  2. Post adjusting entries through GL Transaction Entry.
  3. Distribute profit through the GL Administrator Distribute Profit Report.
  4. Run GL Financial Statements Report.

If you have a yearly Retained Earnings account and an Accumulative Retained Earnings account, then you should also perform these tasks:

  • Make all required auditor entries.
  • Distribute profit through the GL Administrator Distribute Profit Report. Run this function for each period covered by the fiscal year.
  • Make a manual entry to move yearly Retained Earnings to Accumulative Retained Earnings.
    Caution: 
    Do not make postings for the year after this entry is made. Doing so causes data corruption.