End of Fiscal Year Accounts Roll Over

Ok I have asked this before and had no real answer. So in Australia we have 30th June/1st July as our financial year end and everybody resets their journals back to ‘0’ (zero). For example Sales for the year become $0.00.

So @QMcKay what are your thoughts on this as in your previous life you would of come across this concept in the US right?

Here is a sample data set where these accounts would become NIL:

The only process I can think of is a FULL BLOWN - horrible process of creating Account Documents to balance back to NIL which are created on July 1st for each Account that has a balance?

THEREFORE each and every Account (except Customers) would have:
SALES Year Ending 2015
SALES Year Ending 2016
SALES Current

Given Emre uses a transactional type methodology I cannot see a way around this?
The issue have is Sales say for a LIVE client are up to $800,000.00+ and CASH say $400,000.00 and these values will just keept growing from year to year…

I’m from Canada, and I am not an Accountant :stuck_out_tongue_winking_eye:

What would be so bad about creating Year-end Accounts for each year, and doing a Transaction to Debit Sales and Credit Sales 2016?

How many Accounts do you really need to do this for? Are they the same Account Type? Or at least just a handful of Types? I’m sure we could find a nice way to do this efficiently using SQL, no?

Sorry thought you worked in the US? Not an Accountant - gees thought you knew everything! LOL
Yea, I can do Year End Documents but the LIVE version is a bit more extensive. I would need to hide the previous year Accounts.

The bigger issue I see is even though I can make the Accounts Balance to NIL, the DEBITS & CREDITS will still large values in them… Umm would be better renaming Accounts? Can that be done?


Couldn’t you…

  • rename you current payment and sales accounts with a 16-17 suffix
  • create new payment and sales accounts and update the appropriate action transaction templates to point to the new correct account
  • create a new account type called “archive”
  • move the 16-17 accounts to the archive account type and simply don’t include this account type on your screens?

Literally no idea how much this could end up breaking other stuff, but night be the start of a possible strategy?

Yes I think that would do it - it what I had in mind except for “excepting the Accounts” for the Accounts screen. I have a play with the COPY of LIVE which is sitting at 500Megs (1/2G) for the 12 months.

Thanks for your suggestions, Paul.

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Hello Paul, its not all accounts that are restarted when the new financial year commences, and from financial reporting point the accounts are not closed but it is the reporting period transactions that are considered.

  1. Income Statement or Profit and Loss is reported for a period , say 1st July, 2016 to 30th June 2017
    So all transactions within this period are brought into the statement
  2. Balance Sheet/ Statement of Financial Position shows the value of the business at the end of the financial period, say 30th June, 2017. It does not have a start and end date, so accounts under the balance sheet roll or grow in value throughout the life of the business .

For Samba to have standard financial Statement;

  1. The account screen should have date fields as on its reports to filter transactions for a period [for P&L] and to point to an end date [for Balance sheet]
  2. A general journal entry transaction type is needed (a transaction type which can list all accounts in a drop down)
  3. Sum (+) and Subtract (-) operators can be introduced to the account screen to cast and subtract account balances to achieve gross and Net amounts.


Operators should have options to select applicable accounts, subtotals and enter labels for amounts. eg Net or Gross Profit or anything preferred

Paul, I suggest you link database to excel, extract account balances and format as a appropriate



Hey @SHIELD I appreciate your comments. Yes I have written a few Accounting Systems and processes in the past so I was really looking how SambaPOS can be enhanced.

I agree the Balance Sheet Items such as Customer Accounts (DEBTORS/CREDITORS) I would not touch it just the SALES Account from Trading for the DAY. My opinion when they look at SALES they want to see YTD figures only.

All Samba systems at the moment just accumulate balances day after day, month after month, year after year…

I don’t even look at accounting. I use reports for all of that. With reports you can get the exact views you want and can just let accounting be that backend.

I would say reports should be how you do that. Accounting is visible and there because of nature of what sambapos is but reports should be your go to for most of that.

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I’m @Jesse and @SHIELD on this. I only look at the Account Screens for maybe shift-end to see how much in CC Tip Payouts need to be made and then execute a Doc to pay them out of the Drawer. Other than that, they are good for a quick glance to see maybe daily Sales, but I use Reports for everything else.

I don’t really understand why you would want to mess with Account Balances by making transfers to other “Fiscal/Yearly Accounts” in the first place. I mean I get what what you want, but I don’t think the approach is a good one.

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Great, that what I needed to hear. Sometimes being the chief Tech guy in our Company you sound off with other tech guys just to make sure you keep on the same plot.

Here in Oz, even in our small Tech Co, we set Budgets for Sales and always compare YTD with these forecasts. At any stage if we meet Budgets I know exactly what the take home is in $$$ for each partner in my business (no employees). Therefore Report Dates will be essential filters for my Accounts screens…

Appreciate every ones thoughts on this.

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