Allocating unallocated entries before running the End Of Year
After running the end of year in SFM, all outstanding entries including unallocated entries are brought forward to the new financial year. To minimise the number of these outstanding entries we suggest that one goes through all the entities that have unallocated entries and allocate them (when possible) before running the end of year.
SFM has a tool (available both in the sales and purchase ledger) that cycles through all the entities that have unallocated entries and enable you to allocate them. Below are instructions on how this is done.
How do I process an End Of Year in SFM?
Overview SFM allows posting into two financial years simultaneously. This means that users do not need to finalise 2021 before starting to post entries into 2022. The end of year procedure will move the “Current Year” data into the "Previous Year". ...
How do I update the opening balances after posting in the previous year?
After the end of year run, SFM provides the option to authorised users to keep on posting into the Previous Year for the next 12 months. When users post in the previous year, SFM will trap this and makes available a function, 'Update Opening ...
Do I need to Process an End-of-Year in SIMS?
SIMS does not require an end-of-year procedure 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. ...
Error: "Allocation in Progress for Entity XXX" when allocating entries in SFM
Problem Error: "Allocation in Progress for Entity XXX" when allocating entries in SFM' Environment SFM Purchase Unallocated Entries screen Solution Browse to: Go to supplier XYZ001 Select the 'Secondary Details' tab Untick 'Allocation in Progress' ...
Deposits Unallocated payments on account in the SFM VAT reports
Can I get the current amount of deposits/unallocated payments on accounts in SFM VAT reports? Answer: From version 188.8.131.52 of SFM, you have the option to include the unallocated payments in the VAT report. The option to run a VAT Unallocated ...