1. Fincon Accounting
  2. System Configuration
  3. Company Maintenance

Performing a year-end rollover

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When the financial year-end occurs, your company and Fincon Accounting needs to change from period 24 to 25.

This guide is important to read in preparation for this procedure.

Most of the steps discussed in this guide can be completed before a year-end is performed.

Steps 1 to 3 can be done immediately so that you are prepared for the year-end. By performing these steps it will give your company as well as Fincon Accounting an opportunity to help before things get critical. It's recommended to do it as soon as possible. 

Debtors and creditors can be rolled separately from the ledger. This provides an opportunity to fix things in the ledger whilst trading in period 25 in debtors and creditors, should it be needed.

The following steps can be performed:

  1. Upgrade Fincon Accounting.
  2. Balance period 12.
  3. Verify account allocations.
  4. Make a backup of your data.
  5. There should be enough space on the hard drive.
  6. The year-end archive date should be correct.
  7. The archive needs to be completed without any error messages.

Upgrade Fincon Accounting

  1. Upgrade to at least version 5.225.002 or later.
If the Fincon Accounting system is currently at a version higher than 5.200.001 it must be at least at version 5.211.001 or later. If this is not the case, please upgrade.

It would be beneficial to upgrade to the latest version as the year-end process has been modified slightly. For more information on how to upgrade, please see this guide.

To see which version of Fincon Accounting you are currently using do the following:

  1. Navigate to Help / About Fincon.

To see which is the latest version of Fincon Accounting do the following:

  1. Navigate to File / Registration / Check Fincon Version. (You need to be logged in to the topmost company).

or

  1. View the top-right corner of the Fincon Accounting website at www.fincon.co.za.

Balance period 12

Navigate to the correct window

  1. Navigate to System / System Maintenance / System Verify.

Make your selection

  1. Select All Accounts for Period12.

Verify the accounts

  1. Click the Accept button.
If the trial balance total is not 0.00, or if there are any accounts listed, do the following:

Navigate to the correct window

  1. Navigate to System / System Maintenance / System rebuild.

Make your selection

  1. Select All Accounts for Period 1.

Perform the rebuild

  1. Click the Accept button.
When completed, verify the accounts again. If the trial balance total is still not 0.00, please contact Fincon Accounting for assistance.

Verify account allocations

Verify account allocations

Navigate to the correct window

  1. Navigate to System / System Maintenance / Verify Account Allocations.

Make your selection

  1. Select All Accounts.

Verify the allocation

  1. Click the Accept button.
If no accounts are listed after it completes, the allocations are in order. If any accounts are listed do the following:

Reindex all the files

  1. Navigate to System / System Maintenance / Reindex files.
  2. Click the Select all button.
  3. Click the Accept button.

Rebuild all accounts

  1. Navigate to System / System Maintenance / System Rebuild.
  2. Select All Accounts for Period 1.
  3. Click the Accept button.

Rebuild the account allocations

  1. Navigate to System / System Maintenance / Rebuild Account Allocations.
  2. Select All Accounts.
  3. Click the Accept button.

Verify account allocations again. If accounts are still listed, please contact Fincon Accounting for assistance.

The following steps need to be completed before you roll from period 24 to period 25 for the ledger. It will be the same procedure as any other month-end, (Ledger / Ledger Maintenance / Ledger Period End.).

Make a backup of your data

  1. Back up all your data. (All companies). 

Read this guide to see how to do this.

Make sure that the backup is usable. Do not skip this step, as you will not be able to recover from an aborted year-end without a backup.

There should be enough space on the hard drive.

  1. Check that at least 2x the size of the current Findata folder is available on the same drive as the Findata folder.

The year-end archive date should be correct 

  1. The applicable month should be selected and the applicable year should be selected on the screen where the system asks to enter “I am Really SURE”. The correct year-end archive is period 12.
If for example, your year-end is February 2022, you will choose the month of February and the year should be 2021. 

If an error occurs that states “Unable to create archive folder”, check that a folder with the same name doesn’t already exist in the FinData folder (found on the server computer).

If this is the case, the name of the existing folder must be changed or the current archive folder must be renamed.

Another possible cause is that the computer the year-end procedure is being performed on does not have the necessary rights to create a folder on the server computer.

It is advised that the year-end procedure is run on the server computer, while logged in as an administrator. You can also decide to run the Fincon Accounting application as an administrator (right-click / Run as administrator).

The archive should be completed without any error messages.

  1. When the year-end is complete, the system will be in period 13 again. The previous periods 1 to 12 will be in the previous year's archive. The previous periods 13 to 24 are renumbered to 1 to 12. The new month for your new year is period 13, the last month for your previous year is period 12.
If an error occurs, please restore the backup before trying to run the year-end again. Please contact Fincon Accounting if any of the steps are unclear.
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