PERIODEND

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PERIODEND.PNG
Name IBA Summary Totals - End of period and NL Export
Shortcut PERIODEND
Area IBA

See the NOVUS Walkthrough Guide for further information.


This program closes a specified period and writes period totals into the nominal ledger (NL) (if this module is installed).

To see full details of the end of period summary totals please refer to the EPERIOD program.

Before running this program it is necessary to block the period to be closed using the CALENDAR program.

To check whether a period has been blocked refer to the EPERIOD program.


EPERIOD Blocked.PNG


A period is blocked if it is no longer the current period. Records cannot be posted to a blocked period, but a blocked period can be re-opened. Once a period has been closed it cannot be reopened.


Field name Description
Year/Period: Enter the required period to close. The balances to be brought into the following period are displayed broken down as follows.
Currency (Cur) Displayed.
Client DR Client debits displayed.
Client CR Client credits displayed.
Company DR Company (insurer) debits displayed.
Company CR: Company (insurer) credits displayed.


If the closing balances are correct, press [COMMIT] to run the end of period process.

The program checks that:-

  • The cross total of client debits/credits, company debits/credit and brokerage debits/credits is zero or only differs by 0.01 money units.
  • IBA transfers net to zero
  • The aggregate of the cashbook individual lines agree with the summary totals for cash

If certain types of transactions have not been made during the period then warnings are issued eg no cash.


IBA (individual brokerage account) summary totals - End of period and NL (nominal edger) export

Enter the year and period to close. NOVUS will check IBA balances against period summary totals and give a warning message if there are any that do not agree.

Commit will attempt to close the period even if warnings have been given. The program will fail if the discrepancy for any currency/division is greater than 0.05 currency units. If PERIODEND fails please contact Morning Data.


Field name Description
Year The year of the period to close
Period The period to close
Press COMMIT to close the period


Advancing the cur per pointer in the CALENDAR program blocks posting to the IBA and purchase ledgers in previous periods. Assuming that processing is up to date it is recomended that the current open period is advanced (using the CALENDAR program) at close of business on the last day of the period. The current open period can be moved back by the user if any items have been missed, although care should be taken that no users post current period transactions in to the previous period whist it has been un-blocked.

PERIODEND closes the period permanently. This prevents posting to the nominal ledger (NL); once a period is closed the NL cannot be changed. It is not possible to un-close a period.

Periods can only be closed in sequence. All period must be closed before the YEAREND program can be run.

If accounts are to be prepared each month the ACCLIST, AGED, UMCASH, and REPGEN programs reports should be run, renamed, and saved/printed at close of business on the last day of the period.


TB_FRS5_xxx - trial balance to iba debtor/creditor reconciliation)

This report is run to the end of the current period. If the final column in this report contains any numbers greater than 0.10, run the report again to the end of the current year, or to the last period in the calendar (eg 201912).

If there is still an imbalance on any line greater that 0.10, please contact Morning Data, as the ledgers are out of balance and require investigation.

If any imbalance disappears when run for a period in the future then the imbalance has been caused by the matching of cash against future instalments beyond the end of the period entered.

The following reports are also useful. These should be used in conjunction with the TAKEREV program:

REAL_BROK_xxx -(realised brokerage)

UNREAL_BROK_xxx -(unrealised brokerage)

FSA_REC_xxx - (client money reconciliation)


NOTE - any IBA ledger reporting that involves outstanding client/insurer amounts is only valid on the day that it is run so it is important to run these IBA reports at the period (and year) end. An IBA report run on 14th April, but dated 31st March will give the outstanding at 14th April, not 31st March, due to matching that has occurred between the two dates.


Version History

v 5.0.0 – Updated to latest version

v35K - Current version of this form
v27T - First version of this form to use the new style. No other updates except the restyle.