Block a fixed assets financial year
When all the entries regarding fixed assets in a particular year are correctly journalised, you can close the financial year by blocking it in the fixed assets period table. If a year is blocked, you can no longer journalise entries in that year. If you have to do so later on, you first have to unblock the financial year.
You can block/(un)block years under the following conditions:
- You can only block/(un)block an entire year using the action buttons. The periods (months or weeks) cannot be blocked separately, manually. In the period table properties, you see the column 'Blocked' which indicates whether a year is blocked or not.
- If a year is blocked in the fixed asset period table then all the years preceding the blocked year are also blocked. Similarly, if a year is enabled then all years after this year are also enabled.
- All depreciations,subsidies and sales in the year to be blocked must be journalised.
Example:
Blocked/open years must be connected to each other at all times. This means Profit does not allow journal entries to be created in a situation that has one or more open years between blocked years.
Year 1
Year 2
Year 3
Year 4
Year 5
Year 6
Year 7
Year 8
Year 9
Situation X
G
G
G
G
G
O
O
O
O
Block
G
G
G
G
G
B
B
O
O
Enable
G
G
G
D
D
O
O
O
O
G = Blocked year
O = Outstanding year
D = Unblock a year
B = Block a year
- To block a year, the previous year must already be blocked, and if this is not the case, the previous years must be blocked. Example: If, in situation X, year 7 is blocked then year 6 is also blocked. The warning message provided in this case is: 'Are you certain that you want to block all years up to and including year 7?'
- To unblock a year it has to be the last blocked year. If this is not the case, the years after it are also unblocked. Example: If, in situation X, year 4 is enabled then year 5 is also enabled. The warning message provided in this case is: 'Are you certain that you want to enable all years as from year 4? Corrections in closed years can affect the balance sheet and annual settlement. Releasing years can lead to a situation whereby journal entries are made in old financial years.'
This blocking/enabling operation works differently from that in other (financial) period tables. This connection of blocked/enabled years in Profit is because of the ‘undo journal entry’ functionality.
To block/enable years in the fixed assets period table:
- Go to: General / Configuration / Period settings / Period table.
- Open de desired fixed assets period table.
- Click on the action: Block years (or click on the action Enable years if you want to unblock years).
- Enter the year to be blocked.
- Click on: Finish.
|
Directly to |