What is the procedure to run the end of year on SIMS?
SIMS does not require an end of year procedures to be run.
However, SIMS controls users to only allow posting of transactions, such as sales invoices, cash sales, adjustments and purchases, within a range of dates referred to as the Posting Period
. It is required that you update the posting period dates to enable transactions to be posted with the dates of the new year.
The facility to change the posting period requires access to the ADMIN menu within SIMS wherein the Posting Period
option is available in this menu. Access to the Admin
menu may be restricted from a security point of view and you will require access to be able to utilise this function. Open access using the standard Secure Functions controls. To modify the Posting Periods
, select the Admin Posting Period
menu option which will present the dialogue box alongside. All you need to do is to enter the required posting period as per your preferred controls and procedures and click on the Save
If the current posting period is set from 01/11/2018 to 31/12/2018 and this is not changed by 31 December 2018, you or your users will risk processing transactions in 2019 with the dates of 2018.
For users who have an interface with SFM, it is not required to run the end of year in SFM to open up posting for the new year in SIMS however, all accounting transactions exported to SFM will remain in the SFM gateway until the end of year in SFM is undertaken successfully. We strongly recommend that you run the end of year in SFM immediately. See FAQ on Running an End-of-Year in SFM
For users of SIMS with an interface to SFM, if the end-of-year has been processed on SFM, when transactions are back-posted in SIMS, these transactions will appear in SFM's previous year and will need to be imported in SFM from the Previous Year. This is done from Previous Year --> Utilities --> Import Function
N.B. Back-posting in SIMS is never recommended because of the impact this will have on valuations up to a given date.