StanSoft
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Dear SharePro User,
 
How to Rollover to 2021-2022 in SharePro?

A tough year has just passed for the world. We have seen many challenges but have managed to hang on. Surely the future will bring better news and we at StanSoft wish you the very best in 2021-2022. After all your growth is our growth.

We wish all members of the SharePro family a happy new year. We pray that the new year brings us even more success and prosperity. We also welcome to our family the brokers who have trusted us and given us a chance to serve them this year. But now the time has come to start up a new database for the new year and transfer closings from this year to the next. This mail intends to make that process easy and intuitive for you. Just follow the steps as explained and whenever in doubt, do not hesitate to call us.
It is strongly recommended that you upgrade to the latest version of SharePro/Admin available at stansoftware.com before running the rollover process.
When to run the Rollover process?
The rollover process should be run on the morning of 1st April 2021 after the processing for Commodities is complete. Make sure the following has been done in the 2020-2021 year before rollover is run :
  1. Commodity Processing is done – import of trades, Closing rates, etc.
  2. All the Accounting journals for 2020-2021 should be completed in spite of the fact that the settlements traded on 30th and 31st in Equities will be accounted for in the next financial year. Remember that this is important as the Obligation figures of these settlements appear in the Risk  Analysis, Exposure upload, etc., of the interim period.
  3. Create at least one settlement for 2021-2022 to enable exposure upload on 1st Morning. 

Follow the steps as given to rollover to 2021-2022


01.Run SharePro Administrator Software [SHADMIN] and open configuration setup. Expand the 1st company and select the last accounting Year in the list as shown in the image below [in our case, 2020-2021]. Now Click on the Rollover button to start the process…

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02.At this point, a new Dialog will appear which will allow you to change the location of the new database for 2021-2022. By default, it will contain the location of the current year’s database and most likely, you do not need to change the location.
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The Admin software may take a few minutes to create the New Database and migrated all the masters to the next financial year. Have patience and allow the routine to complete the process. Once completed, your new Database is ready.

Ok! If you have successfully reached here, the new database for 2021-2022 has been created and is ready to use.

Note: Sometimes, while creating the new Database, the system may through some creation errors. Do not worry. This is only because some objects in the system are inter-dependent. In this case, once the rollover is done, we may have to run Database Update once more, that's all.


How to Carry Over Closings to the next year?


Carry Over process of Equities/Derivative/Currency/MTF Segments:    

However, before you actually start working in the new financial year, you need to Carry Forward Ledger balances, Unreconciled Bank Entries, Demat Positions, etc., to the new financial year. This process is explained in detail below. This process is shown separately because it may have to be repeated again later on [for instance, if the Ledger Balances of 2020-2021 change later on and you may want to carry forward fresh balances].

The All-in-one-go option basically carries forward individual elements of the system, like Ledger Balances, Open Demat Positions, etc., but all in one straight go. This is the preferable option. 

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However, you may decide to cf individual elements one-by-one also. Read on:
  1. Carry Forward of Accounting Balances: Select [Maintenance \ Year-end processing \ Carry forward accounting balances] menu optionThe process of carrying forward of balance is simple and intuitive. Just click on the [Start Carry Forward] button in the window. Note that this process may have to be run again and again for some time till your finalization of Accounts of 2020-2021 is complete.

  2. Carry forward of outstanding settlementsSimply carried forward the settlement list.
  3. Demat Positions: This is a crucial part of the Carry forward process and once this option is run you should stop working on the Demat Section in the previous financial year. Remember, once completed, you need to go to the financial year 2021-2022 and run Demat Batch Updation once. Once done, please switch back to 2020-2021 to run the remaining Carry forwards
  4. BRS: Carries forward the records for Unreconciled Bank entries to the next financial year to maintain continuity of BRS.

  5. Portfolio PositionsIf you provide the Portfolio Service to the client , whereby a client can get his Long-Short Term breakups from SharePro, then you need to run [Carry forward Client portfolio positions]. Please understand that you need to carry forward the closing stocks in the portfolio of only those clients who avail of the portfolio service. It is recommended that you run this routine for all clients.  However, remember, when carrying forward Client Portfolios it is advisable to select Trades as the basis of the c/f. See the following snapshot :

    image.png
  6. Carry Forward Initial Margin/Closing Rates/Early Payin etc…: Carries forward Closing rates, Varfile, Early Payin, SPAN Margin, etc.  
  7. Arbitrage Positions: If you are maintaining arbitrageurs accounting in the software then you have to [Carry forward Arbitrage positions].
  8. Now run each of the remaining Carry forward routines, namely :
    1. Historical Data – To cf details of when the Client traded last, etc.
    2. Ageing Data – To provide correct Ageing Analysis in the next financial year.
    3. Prepaid Brokerage – To cf the details of Prepaid brokerages refunded to clients. However, if you do not have a system of Prepaid brokerages, ignore this option.
    4. Running A/C Settled Status: To carry forward the details of the last date of Primary and Secondary settlements, etc., to the next financial year. The routine is extremely crucial for proper Running A/C handling in the next financial year.
  9. Now go to the next financial year 2021-2022 and go to each settlement the trade date of which belongs to the previous financial year and run [Bill to Trades Updation] from ?Maintenance->batch Updation.
  10. You need to run one special carry forward option which is available only in the F&O and Commodity Segments.  To do this, switch to the F& O Segment in the financial year 2021-2022 and open a new settlement in the new year. Now switch to 2020-2021 and go to [Maintenance | Carry forwards | Carry forwards of contracts] and click on [Next year settlement]. Now type the settlement number that you created earlier in the step in the new financial year. Click Start. You need to repeat the process in each of the Currency and Commodity segments also.
  11. You will also have to run the “T+1 Carry Forward Routine” option in F&O. Remember, that this is not included in the All-in-one-go option and has to be run separately. However, this is required only if you follow the T+1 Accounting System in F&O/Currency/Commodities.
  12. If you are working in the MTF segment, you will need to run a special carry forward option added this year. You will find it under [Maintenance/ Year-end Processing/ Carry Forward MTF Positions].


Carry Over process of DP Segment:  
  
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  1. Carry Forward DP Accounting Balances: Select [Maintenance \ Year-end processing \ Carry forward accounting balances] menu option. The process of carrying forward of balances is simple and intuitive. Just click on the [Start Carry Forward] button in the window. Note that this process may have to be run again and again for some time till your finalization of Accounts of 2020-2021 is complete.
  2. Carry Forward DP BRS: Carry forward the records for Unreconciled Bank entries to the next financial year to maintain continuity of BRS.
  3. Carry Forward  (Bosetup/Mod/Closure)  BOs:  Carry forward the records of unexported BO Setup, Modification & Closure records. 
  4. Carry Forward Latest Basket Code: Carry forward of last effective dated charge basket mapping record. 
  5. Carry Forward Last Transaction Date:  Carry forward the records of last-dated transactions. 
  6. Batch Serial Number Updation in Next year:  Carry forward the last exported batch serial number. 
  7. Holding of Financial  Year closing date is C/f  to  Next financial year: Carry forward the records of last-dated holding.                                                                                                                                                                                                       
Please note that the following things should not be done after the “Rollover process” is over?.    
  1. Do not do any further Demat work in the previous financial year. From now on, work only in 2021-2022 as far as Demat Operations are concerned.  Do not receive or release shares in the Margin A/cs in the previous year 2020-2021 anymore. Do not make pledge, unpledged or other entries. All margin movements must be affected in 2021-2022.
  2. If you are required to open any Accounting Head in the previous year (2020-2021), please also open it in the new year (2021-2022). Make sure that you allot the same Accounting Code and Name to the account.
  3. If you are merging two or more shares in the previous year, please also do so simultaneously in the new year (2021-2022).
  4. Do NOT open any new clients in the last year (2020-2021). Just to be sure you don't make that mistake, SharePro pops up a warning if you try to create a new client in the previous financial year.?
For the systems Team: You may have defined Maintenance Plans that Index or Update the databases based on a schedule. You will need to include the newly created Database in this plan. This is extremely important?

Relax, SharePro makes the process of starting a new year very simple. In all probability, you can do all this yourself without any hassles. But remember, in case of any doubt, go ahead and call us.
 
Please note that the images in this mail may show old financial years as they are merely recycled.
 
Yours Sincerely,

SharePro: How to Rollover to 2021-2022?