Year-End Process in Navigator

The year-end process in Navigator is automatic, requiring no manual intervention. Navigator is designed to handle year-end transitions seamlessly, ensuring all transactions and balances are updated accurately and in compliance with accounting standards.

Year-End Transition

1. Automatic Year-End Handling:

   • Navigator is pre-configured with the customer's year-end date during system setup.
   • After Period 12 has passed, Navigator automatically totals all Profit and Loss transactions from previous years and displays the balance in Nominal Code 0.0.70.9.

2. Nominal Code 0.0.70.9:

   • All Profit and Loss balances from prior years are reflected in this code.
   • There is no need for customers to manually post year-end journals to clear Profit and Loss nominal codes.
   • Transactions in this code will never display in a Transactions Report.

3. Backdated Reports:

   • Ledger Reports for prior periods will continue to display transactions for the relevant periods, ensuring historical accuracy.

Daily and Regular Processes

1. Reconcile Report:

   • Check the Reconcile Report regularly (at least once a week).
   • This report highlights imbalances in major Balance Sheet Control Accounts based on the previous evening’s balances.
   • Any adjustments made to control accounts will reflect in the following day’s report.

2. Bank and Cash Bankings:

   • Reconcile all cash banking nominal codes (..60.0) daily.
   • Post journals to clear balances to the bank.
   • Use the Nominal Linking process to match receipts (debits) with daily journals (credits), ensuring no postings are missed.

3. Daily Bank Reconciliation:

   • Reconcile the bank daily to reduce the month-end workload.

Retrospective Reporting

Navigator allows retrospective reporting for the following Balance Sheet schedules:

1. Debtors and Creditors:

   • Reports can be run for a specific previous date to review historical balances.

2. Vehicle Stock:

   • Use the Schedule Nominal Report (Accounts > Nominal > Reports > Schedule Nominal) to generate an accurate stock list for any date.
   • This report balances to the Trial Balance and can be printed or exported.

3. Vehicle Debtors:

   • Follow the same process as Vehicle Stock for Vehicle Debtors.
   • Includes nominal breakdowns for GANI and Warranty Debtors.

4. Parts Stock:

   • Access the Reconcile Report, double-click the “Parts Stock” line, and select the desired date.
   • View, print, or export the data.

5. Work in Progress (WIP):

   • Similar process as Parts Stock. Select the “Work in Progress” line to view or export data.

6. Other Balance Sheet Codes:

   • For items like Fixed Assets, Accruals, Prepayments, Petty Cash, and Cash Floats, these must be scheduled directly off the system.

Setting the Back-Posting Prevention Date

1. Importance of Back-Posting Prevention:

   • Prevents users from posting transactions to a date earlier than the specified date.
   • Helps ensure data integrity and avoids unintended adjustments to closed periods.

2. How to Set It:

   • Navigate to Accounts > Nominal > Utilities > Set Up > Back Posting Prevention.
   • Set the prevention date to the first day of the new month.

3. Override Code for Back-Posting:

   • Users require an override code to post transactions before the back-posting prevention date.
   • Configure this in Setup > General Setup > Nominal Back Posting.

Restrictions for Posting Backdated Transactions

1. After-Sales Departments:

   • Can only post transactions (invoices, credit notes, and stock receipts) to the current date.

2. Sales Department:

   • Cannot backdate costs or close deals before the back-posting prevention date without an authority code.

3. Accounts Department:

   • Cannot backdate invoices or credit notes before the prevention date without an authority code.

4. Payments and Receipts:

   • Cannot be posted to a date earlier than the back-posting prevention date.

Key Notes

• Reconciliation: Regular reconciliation of reports ensures accurate balances and prevents discrepancies.
• Automation: The year-end process is fully automated, reducing the need for manual intervention.
• Audit Compliance: Historical transactions and balances remain accessible, ensuring compliance with audit requirements.