End Of Period Data Transfers

There are two ways that end of period data can be transferred from CAPITAL Office into CAPITAL GL Controller:

1. You can use the End Period Wizard (recommended) or

2. Use the Make New System Batch Utility.

The Make New System Batch Utility gives you greater control over how the end of the financial period is performed. It will also give you some insights into what the End Period Wizard does. However, the End Period Wizard is easier and faster to use.

The Make New System Batch Utility

The end of period data transfer process is used when you wish to manually transfer CAPITAL Office accounting data into the general ledger. This procedure is used when you do not wish to post automatic journals or when you have specified that CAPITAL Office NOT create automatic journal batches. The previous section briefly mentioned this procedure. This section looks at operating the data transfer in detail.

These steps apply specifically to charts of accounts that contain opening stock and closing stock accounts. To perform a data transfer:

1. Start your general ledger.

2. Move to the Journals|Make New System Batches pull-down menu or click on .

3. Next to Name enter a description here, such as, "manual journal batch transfer/July" or some other description that distinguishes the batch.

4. Tab to general ledger period, enter the period number or click on to produce a list of available periods. Select the period for which you want to perform a data transfer from.

5. Click OK for batch processing to commence. This may take a short while.

Note: If CAPITAL stops with a warning message during batch creation, this will indicate there is a problem with the entry currently being processed. Write down the entry, go into CAPITAL Office and investigate the problem. One solution (if there is no obvious problem with the entry) is to delete it and re-enter it. You would then have to repeat steps 1-6 again.

Now is a good time to back-up your general ledger files before continuing.

6. Once the batch has been created, choose Journals|System Journal Batches or click on

7. If you have batches that have been created by the computer, now is a good time to delete them. Computer generated batches always have a description that starts with "created:...". Highlight and delete the batch if it is a "new" batch. (The status column will indicate that it is new.)

8. Select the batch you have just created, by clicking it, and click post.

9. The option Post - the selected batch should be highlighted. Click OK to begin the update process.

10. You have now completed the general ledger CAPITAL Office data transfer for the period. Your next step is to post your opening/closing stock adjustments.

11. Once the posting process is complete, and no errors have been reported, go back to the Journals menu. Choose: Journals|Standing Journals Table or click on

12. Select your opening/closing stock batch.

13. Click edit to edit the batch.

14. Click OK to move to the next screen. A list of four journals should appear. These need to be edited.

15. Edit each journal entry in turn by clicking on it., then tab to the amount. Change the amount and click save. The journals should consist of:

100 opening stock
200 stock on hand
200 closing stock
200 stock on hand

Edit the journal containing the reference to 19100, and in the debit field, place your closing stock amount for the previous period. (This is what your inventory was worth as of the last moment of the month prior to the one you are currently preparing.) For example, if that month's stock report said you had $1000 in inventory as of the end of the period, enter $1000 in the debit field. (This, logically, is the same as what your opening inventory value was, when you commenced trading for the period you are now preparing.)

Edit the journal containing the reference 30200, and in the credit field, place the same amount here, i.e., $1000.

Edit the journal containing 19200, and enter the closing stock figure for the month/period you are working on. For example, if you are doing a data transfer containing August's information, enter the stock quantity report total for the end of august. If this amount was $1500, you would enter $1500 in the credit field.

Edit the final journal which is also 30200. Enter the same amount as the previous entry, but this time place it in the debit field.

16. Click total to save the batch.

17. Click copy to copy it to a general journal.

18. Click transfer to period and type the correct period, i.e., 1 for July, 2 for August, etc.

19. Click OK. This will make a copy of the standing journal in the general journals area.

20. Choose Journals|General Journal Batches or click on

21. Move to the batch you have just created and transferred from standing journals, and highlight it.

22. Click post.

23. Ensure that you have selected post - the selected batch and click OK.

24. Once posting has completed, click leave to exit the dialog box.

25. You are now ready to print your financial statements.

26. Choose Reports|Financial Statements.

27. A list of financial statements will appear. If you are not sure which to select, the report P&L/balance mtd/ytd is a good choice.

28. Select the period for which you have just prepared.

29. Select OK then select print from the report settings

30. It is recommended that at this point you perform a "clean-up" to ensure that CAPITAL will continue to perform at top speed. Choose Maintenance|Database Maintenance|Clean Repair/Databases.

Your month's journal ledger work is complete.

Very important. If you've got CAPITAL automatically generating system batches for you, then this is handy, because it let's you see where things are going as you enter them. But if you are going to use the above method you never post the system batches generated by the computer. You'll just be posting the same data twice!

Why are manual batches created by you better than system batches created by the computer? Because you are assured that your data is transferred in one clean block. Edits and adjustments for the period (month) do not carry across into the general ledger either. A simple to make error in a general ledger trial balance can only take a few seconds to make, but can sometimes take hours to find.

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