Configurations to be updated at the start of a new calendar year

At the start of each new calendar year, you may need to check and update the following configurations:

Account Periods

When a new calendar year begins, you will need to create a new record in the Account Periods for the new year.

This is required for the creation of invoices and year-end accruals, whereby the invoices or the reversal accrual entries will be created in the new calendar year. If the new account period has not been created, you may encounter the following prompt whenever you access an invoice.

To create a new Account Period, refer to the steps found in the following article IMOS - Account Periods

Invoice Number

Note: This occurs only if your system has CFGEnableDocumentNumber enabled and invoice numbering setup with @YEAR.

If you have Document Numbers set up to automatically generate invoice numbers, you may notice that invoices for the new calendar year may not have invoice numbers populated or you may encounter the following error message:

To resolve this,

1. Go to Financials > Document Numbers.
   

   

2. As soon as the page is displayed, the following prompt appears. Click OK.
   

   

3. Check that the Reference Year is up-to-date. Click the Save button.
   

   

Voyage Number

If your system is configured to have both CFGVoyageNoFormat and CFGUseGlobalVoyageNumbering enabled at the same time, you may notice that the voyage number, for voyages created in the new calendar year, will not be updated to reference the new year.

In order for the system to reference the new year in the voyage number, you will have to create the very first voyage at the start of the calendar year with the following steps:

1. Disable CFGUseGlobalVoyageNumbering

2. Create a new voyage with the updated reference year

3. Enable CFGUseGlobalVoyageNumbering