The period end can be set to run in the end of day process. 

 

The period end option will advance the status of all records where they meet certain criteria so that the new and used vehicle stockbooks and log files can be consolidated.

 

It will also update the current profit on each vehicle providing a record at the time of the Nominal Ledger close and will also show the dates.

 

It will update the system controls so that any postings from VSB after the Nominal Ledger close will bear a posting date within the current period.  This follows the same logic as used for closing the sales and Purchase Ledgers.

 

The system will compare the current profit with previous NL close profit providing the vehicle is at account status ‘I’ or above e.g. ‘F’.  The system will attempt to set the account status and progress code to ‘X’, providing certain mandatory conditions have been met.  Once closed, and the retention period specified within system parameters is reached, then the vehicle will be transferred to the archive.

 

There will be an end of period report and the system will dictate whether the profit reported is current, adjusted or cancelled.

 

If the change status flag is set in system parameters to 'Yes' then the system will automatically move the status at month end to (usually) ‘F’ dictating that sales and cost of sale are complete.

 

There is a menu option that displays the current VSB period.

 

Note:  The print that comes off at the month end reconciles back to the Nominal Ledger and should be kept for reference.

 

In order to do a period end manually the Vehicle Stock Books needs to be in single user mode. If this is not the case the following message will be obtained during the process:

 

 

To lock the system VS / System Maintenance / Prevent / allow access 

            Select Display users

 

 

            You should be the only user in the module. Tick the Status box to deny access and then select Exit :

 

 

Proceed with period end:

 

VS / End of Period Options / Carry Forward VSB Period

            

Check period then select Advance

 

 

            The next screen is a confirmation screen, Select OK to proceed

 

            To continue select OK

 

 

 

            Select Continue to complete the closure of the period

 

 

            You will be return to the VS period end menu Select EXIT

 

 

            The Lock on the Module will be removed by the system.

 

CHECKLIST:

  1. Produce ALL relevant Vehicle Stock reports.

 

  1. Reconcile Manufacturers statement with consignment stock report if appropriate.

 

  1. Write down demo and used vehicle stock as necessary.

 

  1. Check all vehicle related Balance Sheet accounts and investigate any differences, these should be minimal as they are done daily.

 

  1. Run vehicle profit reports and agree to Profit and Loss Accounts.

 

  1. Close VSB Period when ALL of the above are completed. Care must be taken when this is done as it will prevent any postings into period concerned, and consideration must be given to the time required for production of Management Accounts and closing the Nominal Ledger.

 

  1. Reconcile the GIS account for Vehicles. Report found in Purchase Control / Reports & Enquiries  / Frequently Used Reports /A10 Vehicle Stockbooks GIS