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Starting A New Year:
At the start of a new year there are three steps necessary to prepare your Payday Plus Software for use in the new year:
1. Download the Banking Holidays Update. Banking Holidays ensure you do not schedule due dates on days you will be closed or unable to ACH a customer payment. There are 2 updates to choose from when installing the Banking Holidays; Common Holidays and Federal Holidays. Common Holidays is just the major Holidays, New Years, Memorial Day, July 4th, Labor Day, Thanksgiving and Christmas. The Federal Holidays download includes ALL holidays that the Federal Reserve is closed, this is the option you should use if you ACH your customer payments.
a. BE SURE THE PROGRAM IS CLOSED ON ALL COMPUTERS BEFORE PROCEEDING! If you have a network, be sure to do this on the server, not one of the workstations.
c. A new window appears asking you “What would you like to do with this file? “.
d. Choose to Open the file. Depending on your browser, wording may vary (e.g., "Open this file," "Open," "Run," or "Install it from the current location" are typical choices.).
e. Once the file opens, click the "Unzip" button.
f. Once you receive the message that the files have unzipped successfully, click the "Close" button to finish the update.
2. When you start up your Payday Plus Software on the first day of a new year, after pressing the Enter key on the date field and the year field, you will be prompted with the following question “General Ledger & Chart of Accounts for 2004 not found. Do you want to Start a New Year (Y/N)? “. Type a “Y” to create the General Ledger & Chart of Accounts for the new year.
3. Before coming to the Contract Menu, you will receive a message that asks you “Display this message whenever the Beginning Balance is wrong (Y/N)?”. Type a “Y”. You then need to move the ending balances in your Chart of Accounts to the beginning balance for the new year. To accomplish this perform the following steps:
a. From any menu type "G" and press the Enter key to access the General Ledger Menu.
b. Type "13".
c. Type "Y" to continue.
d. A report is printed showing what balances were carried forward to the current year's beginning balances.
REMEMBER, if you edit the previous years' transactions after running this process, you will need to rerun the General Ledger Menu Option 13 to update your balances.