Closing off the year with the Year End process and starting the new financial year
(Guide for Pastel Partner 19, but older versions will loosely follow the same method).
Before you start the Year End procedure, please ensure you have made a backup. [Click Here] for a guide on how to make a backup.
Also, it is advisable to print the following reports off first:
- Customer and Supplier Age Analysis
- Detailed Ledger for all Accounts
With a valid backup saved and your required reports printed, follow these simple steps:
- Go to 'Change > Year End' and input your password when prompted.
- You will be prompted that into order to do the Year End, some preliminary checks need to be performed, click 'Yes' to proceed and wait until the next screen loads. Depending on the size of your data, this can potentially take a long time, do not try to close down Pastel during this process, there is no progress bar or any other window to display the progress, you need to wait until the next screen appears to proceed.
- The first screen will warn you that a backup is advisable, if you have not done one you can click 'Backup' to start the process, or you can click 'Next' to continue.
- If you use the Last Period as the First Period of next year, you will be asked if you want to use the Last Period budgets for the First Period budgets.
Click 'Yes' if you want the Last Period budget of the current financial year to overwrite next years budget for Period 1. Click 'No' to do nothing with budgets and proceed.
- Depending on how your current data is named, will change what options you need to select here.
- If you name your data without a year in the name (TEST in my example), then the new company you want to create should be called the name with the year number that you are closing off. (My Data is called TEST which is for the Financial Year ending 2019, so I want to create a new company called TEST2019, so I can log into this later on for historical records).
- If you name your data with the year in the name (TEST2019 as an example), then the new company should be the name with the new year in it, for this example I would create a company called TEST2020.
In this option (A), the Data is called TEST and I want to create a prior year company for historical records called TEST2019, I want to leave the option blank for 'Run the Year End in the new company' and click Next.
In this option (B), the Data is called TEST2019 already and I want to create a new company called TEST2020 to use for my new year. I tick the option to 'Run the Year End in the new company' so the TEST2019 is left as it is and the TEST2020 is the one that rolls over to the new year. I then continue using TEST2020 as my live data.
- Creating the new company can be relatively short but can take longer if your data is bigger. Click 'OK' when the confirmation message come sup saying the new company has been created.
- The next screen will just show you the reports that are advisable to print off, you can click 'Next'.
- The next screen will just show you exactly what the year end procedure will do, if you are happy with this then just click 'Next'
- Finally click 'Process' to start the procedure.
- Please be patient and allow the process to complete on it's own, it can take a long time depending on the size of your data.
Once the process is complete, you are ready to start transactions for the new financial year.