Zero Fiscal YTD Fields

This is the last routine selected during the Fiscal Year Close.

Select Close - Fiscal Year Zero Values

Always make a Permanent Backup to a diskette, CD, or some other removable device before you Zero YTD values. Store the diskette or CD in a safe place for permanent storage. Do not rely on the temporary backup to hard disk for permanent storage.

ZERO COMPANY CHART OF ACCOUNTS

This routine will:

1. Drop transactions (debits & credits) from the YTD General Ledger file.

2. Zero YTD values for the Company Chart of Accounts

3. Post Beginning Balances for the New Year into the Monthly Transaction file.

4. Update your Retained Earnings for Posting of Net Profit/Loss value (GL Number 25300)

5. Update your Current Income (GL Number 29700 a Type 1 account)

Note: Your Company Chart of Accounts must include GL Number 25300 for Retained Earnings, and GL Number 29700 (a type 1 account) for Current Income.

This routine first deletes all year to date transactions for the specified company from the YTDTRAN file (Year to Date General Ledger). Then zeroes the year to date values in the Chart of Accounts file. Year to date values will be zeroed for sales, cost of sales, income and all expenses. Beginning balances are posted for assets, liabilities and retained earnings (general ledger number 25300).

For assets and liabilities the year to date balance for each asset and liability account from the general ledger is automatically added to the Year to Date General Ledger file for the same amount with a description of balance forward.

The net profit is calculated by adding the year to date balance (from the Company Chart of Accounts) of all accounts except assets and liabilities. Debits are positive and credits are negative. In other words, sales are negative (you credit sales when entering a sale) and expenses are positive (you debit an expense when entering expenses) and when sales exceed expenses you have a profit.

For the net profit a general ledger transaction is added to the Year to Date General Ledger file with a description of P & L BALANCE FORWARD. The amount is then posted into the current month field of the Chart of Accounts (general ledger number 25300 = RETAINED EARNINGS) and added to the year to date. Print a Company Balance Sheet after closing the company to verify the balance forward for retained earnings posted for the New Year.

ZERO UNIT CHART OF ACCOUNTS

This routine will zero month to date and year to date values for each general ledger number in the Unit Chart of Accounts file for the entire company you specify. The month to date and year to date production volume in the Unit/Well file will be zeroed. The life to date values will not be zeroed.

You must have printed Unit P & L’s prior to zeroing month to date and year to date values. Once values are zeroed you may no longer print current Unit P & L’s for this company. You may zero this file, during Calendar or Fiscal Year-end, but normally it's saved during Fiscal so that the year to date totals dovetail with the Company Chart of Accounts.

ZERO LAND MANAGEMENT

This routine will only zero rental year to date total cost for the company you specify. The life to date total rental cost will not be zeroed. The rental amount and bonus amount will not be zeroed. All other data in the Land Management file will remain the same. You may zero this file, during Calendar or Fiscal Year-end, but normally it's saved during Fiscal so that the year to date totals dovetail with the Company Chart of Accounts