New accounting year item 12 13 14 pg 162 163

12. Zerorise Closing stock amounts from the previous year.

Zerorise the closing stock amounts in the current file because it is the figure for previous year.

13. Replace Opening stock amounts from the previous year.

The previous year's stock figure will become the opening stock of the current year. Just change the figure of the opening stock to the closing stock of the previous year.

14. Zerorise Staff Loan amounts from the previous year which have been paid.

In this system, each staff advance will warrant a separate (its own) account. When a company gives a staff an advance or loan, we will write his name in column ACCOUNT-DEBIT. When the staff makes payment, we will write his name in column ACCOUNT-CREDIT. In the new year, we want to carry only the net balance, not every transaction. But we cannot delete the row containing the transaction, because its corresponding entry may be an account we still require, e.g. a bank account. Instead, we will zerorise its amount whenever it appears in the column RM-DEBIT or RM-CREDIT.

Before we zerorise, we must get the net balance first. The net balance is available in sheet TB. Remember this figure (If you forget, you can refer to the previous period file). Now you can zerorise the amount whenever it appears in the columns RM-DEBIT and RM-CREDIT.

Since we expect that the number of entries will not be many, we can use AutoFilter operation to identify the amounts to be zerorised. Here are the steps: Make sure the data is in AutoFilter mode. Click on the arrow-head on the right of the cell which has data title ACCOUNT-DEBIT. A list will appear. Select the account name. Change all amounts in column RM-DEBIT to 0 (zero). (Make sure you do not zerorise current year's loans.) Remove the AutoFilter mode.

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Now we want to do the same with amounts in the column RM-CREDIT where the corresponding item in ACCOUNT-CREDIT column has the same account name. Again, make sure the data is in AutoFilter mode. Click on the arrow-head on the right of the cell which has data title ACCOUNT-CREDIT. A list will appear. Select the account name. Change all amounts in column RM-CREDIT to 0 (zero). Remove the AutoFilter mode.

Create a new row to accommodate the details of the net balance of that staff account. In the new row, type the date as the beginning period date, MTH as 0 (zero) and put the net balance we get earlier (which we ask you to remember).

Repeat the operation for each staff account.