Page Comparison

The Ledger Item Editor allows you to view, create, and edit ledger transfer profiles. Ledger transfer profiles identify the accounts to close out for the year end process and identify the target accounts into which to roll the balances. 

Understand the Year End Closeout Process

...

Eagle Accounting provides a ledger transfer profile by default when you install Eagle's accounting solution. However, the accounts designated for the year end closeout process are customizable. You can choose any accounts to close out for the year end process. Likewise, you also can choose the target account into which to roll the balances. 

...

The ledger transfer profile is comprised of the following criteria:

• Transfer Category. Represents the STAR Default category or a regulatory category, for Eagle Accounting clients that use IFRS. This allows you to customize separate regulatory categories to close out different ranges of accounts into various year end accounts. 

• Target

  and Offset

  Account. The target account is the account

  to which

  that retains the year end

  process rolls

  closed out ledger balances. The year end closeout process moves the ledger balances from the source accounts to the target account that retains the year end closed out balances.  

• Offset Account. The offset account is

  the

  a memo account for the contra postings to the target account. The offset account of 9999999999 is a memo account used in the ledger posting process to move the balances from the transfer account to the target accounts. 

• Source Accounts.

   One

   The source accounts comprise one or more individual accounts or ranges of accounts that roll up to the target account.

   

Image Removed

• These are the general ledger accounts that the system zeros out for the start of the next fiscal year. Each source range includes Start Account and End Account criteria. 

For a given transfer category, you can define a multiple target account accounts and an offset account, along with a set of corresponding offset accounts. You can associate one or more source accounts. ranges with each Transfer Category/Target Account/Offset Account grouping.

For example, in the previous figure, you use the left grid to select the row for the STAR Default transfer category that rolls up to target account 3003000100, Accumulated undistributed income(loss). The offset account is 9999999999, Currency contra account. When you select this the row for a this Transfer Category/Target Account/Offset Account grouping, you see the corresponding source accounts in the right grid. As a result, when you process a year end closeout, the system rolls up the ledger balances for these source accounts and moves the ledger balances to the target account 3003000100, Accumulated undistributed income(loss). 

...