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month end closing (new user)

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  • month end closing (new user)

    I have been using an old pca dos system for years and the first of this month updated to the newest Peachtree Complete Accounting system. I was so glad to find this forum. I know we will love the new system but I'm sure I'll have many "silly" questions for all of you. When I go back to work tomorrow, I will want to close for the month of November, but so far I have not been able to find out how to do this. Does it automatically ask me to close for the month? Does it walk you through the requirements? Any info from any and all would be appreciated before tomorrow. Thanks so much in advance.

  • #2
    Peachtree accounting do not require to close the month end closing. When you put the company posting method as realtime, it will automatically post all your transaction.

    What you need to do is change the month period to currently month Go to Task, system, change period and change). That all. We use peachtree for more than 3 years and found it very user friendly.

    Best Regards
    Sylvester Chua
    Sabah, Malaysia
    Sylvester YP Chua
    Sabah, Malaysia


    • #3
      I'm new to Windows version also, but I believe you don't have to be in a big hurry to close out November just to start working in December. Everything is date-sensitive in the Windows version, not like DOS where you could enter any date and it would be contained in whatever generation you were in. I reconcile my November cash account and make sure all my November transactions aren't going to need to be altered before I close it out.


      • #4
        Month-end closing

        I agree with westphal that you don't have to be in a hurry to close out the month. However, once I've issued monthly financial statements to my boss and my Board, I don't want anyone posting anything to that or an earlier month! Is there any way to "lock" prior months on the system so no-one can post to them any more?
        Graham R Briggs
        Interim CFO


        • #5
          Although changing the accounting period to the next month prohibits new entries into previous months, I have found there are ways around this. If someone pulls up an old transaction and changes it, the changes can be posted. Also, you can create a new transaction in the current month, post it, reopen and change the date to an earlier month and it will let you post it after displaying a message that you are trying to post to a closed period. This has caused me fits in the past because it changes the books for closed months after I have submitted the financials to my boss.