SIM Business Package Year 2000 Procedures
February 3, 2000
Addendum
Three important issues have been identified since the Year 2000 Procedures for SIM's Business Package were released on March 8, 1999. This addendum describes required changes to the procedure and gives clarification on two points.
Important changes to the procedure.
There is a problem with foreign currency reconciliation calculations when changing exchange rates for foreign currency (type VM) accounts in the year2000. Fortunately
there is a simple change to the procedure that avoids this problem.
It is necessary for all account balances for foreign currency accounts (account type VM) to be zero as of December 31, 1999 when the ROLLOVER procedure is run.
The December 31, 1999 balances must be transferred to a suspense account of type other than VM during the running of ROLLOVER, and then transferred back to their original accounts with a date of January 1, 2000.
If you have not run the ROLLOVER procedure, please refer to the revised procedure of January 14, 2000 (see text file Y2000.txt).
The following procedure should be performed if ROLLOVER has already been previously run. It should not be necessary to restore from backups.
- Re-set the start & end date of the 1999 periods to their original 1999 dates.
- Transfer all VM account balances as of 31-Dec-99, to a suspense account using a transaction date of 31-Dec-99. The account balances as of December 31, 1999 must be zero for all VM accounts.
Important
: the balance transferred to suspense should be the balance as of December 31 1999. If transactions have been posted in year 2000, do NOT include those when calculating the balance to be transferred to suspense.
- Run ROLLOVER (again, even though it has already been run).
- Transfer the account balances back to the VM accounts using a transaction date of 1-Jan-00.
Clarification re printing account balances in journal inquiry.
There is a problem with printing the correct current balance of an accounting Journal Inquiry. The option 3. Print Balance does not give correct results during the year 2000. However option 4. Print Transaction Detail gives the correct ending balance.
Remember that you should not request a date span that covers the 1999 portion of the fiscal year. "You must let the 1999 data alone" during the rest of the fiscal year.
Once you have run ROLLOVER you cannot get correct account balances for the periods that were rolled over. The balances are still there in the new year so that
reporting is correct. Of course after the 1999-2000 fiscal year is complete, these problems will not recur.
Accounting periods must be correct before running ROLLOVER.
Assure that the accounting period file contains the correct period dates for the twelve periods of the year before running ROLLOVER. If you have changed the
period dates for whatever reason, set them back to their correct dates. This was included in the original Year 2000 Procedures, but is especially important because a minor bug has been found in the ROLLOVER program.´
If there is a `99 date in periods 10, 11, or 12 the ROLLOVER program will fail. If this happens, the account balances will still be correct, but the accounting periods file will not be updated properly.
A corrected version of the ROLLOVER program is available here. This version will not fail if there are `99 dates in periods 10, 11, or 12.
|
