How to check which year is your current year in SFM

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• 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 2023 before starting to post entries into 2024. The end of year procedure will move the “Current Year” data into the "Previous Year". ...

• How do I finalise the previous year?

  Overview SFM allows posting into two financial years simultaneously. This means that users have the option to finalise the previous year (during the current year) and at the same time keep on posting in current year. The Finalise 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 ...

• How do I close the Posting Periods in SFM?

  There are two sets of posting periods in SFM: - Current Year > Utilities > Posting Dates - Previous Year > Utilities > Posting Dates The system will allow posting from the ledgers within the set date ranges from the posting dates options of the ...

• Do I need to Process an End-of-Year in 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. ...