You do not need to perform this step if starting the new account from July 1.
Ensure you have finalised the Year End and go directly to Completing the Conversion.
Once an Interim Period has been created, you can go to the Financial Periods screen at any time and select View Interim Entries Data, in the Actions column, to view data saved when this period was created, or you can Reverse Interim Entries.
If you choose to Reverse Interim Entries, Mclowd™ will then allow you to Edit the journal entries, Reset Interim Entries (delete all entries and start over), or Delete the Interim Period completely.
After editing or deleting and recreating entries, you can then choose to Post the changed journal entries.
View Interim Entries Data
Choose View Interim Entries Data from the Actions list for a selected interim period.
Mclowd™ will display the Calculate Interim Entries Menu, indicating which steps were processed and the date on which processing was completed.
Selecting any button on this menu will display the data saved at that step. This menu also provides an option to Reverse Entries to Reverse Interim entries saved to the General Ledger.
Reverse Interim Period
To reverse the Journal Entries made while processing the Interim Period Taxable Income and Tax, and restore the system to its state prior to posting journal entries, go to the Financial Periods screen and select Reverse Interim Entries in the Actions column.
Mclowd™ asks you to confirm that you wish to roll back the General Ledger, deleting all journals entered in the Interim Period creation process and re-opening the period for further data entry.
Once you have reversed the interim entries and rolled back the General Ledger, you can select to Edit Interim Entries Data or Reset Interim Entries Data or Delete Interim Period.
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Edit Interim Period
Selecting Edit Interim Entries Data displays the Calculate Interim Entries menu and allows you to re-do the calculations.
Check marks indicate steps that have been successfully completed. You can still make changes to the data recorded in these steps by clicking the button.
You need to complete any unprocessed steps before continuing.
Reset Interim Entries
Selecting Reset Interim Entries Data displays a dialogue asking you to confirm you wish to clear all saved Interim Entries Data for this interim period.
Delete Interim Period
Selecting Delete Interim Period asks if you wish to delete the period completely. This will remove it from the Financial Periods list and restore the system to its condition prior to you creating the Interim Period.
Post Interim Period
If interim entries have been made but not posted, the drop-down Actions list on the Financial Periods screen may offer an option to Post Interim Entries.
Selecting this option will finalise posting to the General Ledger if the P&L balance is $0.
