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- Commodity Processing is done – import of trades, Closing rates, etc.
- 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.
- 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
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?
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.
- Carry Forward of Accounting Balances: Select [Maintenance \ Year-end processing \ Carry forward accounting balances] menu option. The 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.
- Carry forward of outstanding settlements: Simply carried forward the settlement list.
- 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
- BRS: Carries forward the records for Unreconciled Bank entries to the next financial year to maintain continuity of BRS.
- Portfolio Positions: If 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 :
- Carry Forward Initial Margin/Closing Rates/Early Payin etc…: Carries forward Closing rates, Varfile, Early Payin, SPAN Margin, etc.
- Arbitrage Positions: If you are maintaining arbitrageurs accounting in the software then you have to [Carry forward Arbitrage positions].
- Now run each of the remaining Carry forward routines, namely :
- Historical Data – To cf details of when the Client traded last, etc.
- Ageing Data – To provide correct Ageing Analysis in the next financial year.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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 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.
- Carry Forward DP BRS: Carry forward the records for Unreconciled Bank entries to the next financial year to maintain continuity of BRS.
- Carry Forward (Bosetup/Mod/Closure) BOs: Carry forward the records of unexported BO Setup, Modification & Closure records.
- Carry Forward Latest Basket Code: Carry forward of last effective dated charge basket mapping record.
- Carry Forward Last Transaction Date: Carry forward the records of last-dated transactions.
- Batch Serial Number Updation in Next year: Carry forward the last exported batch serial number.
- Holding of Financial Year closing date is C/f to Next financial year: Carry forward the records of last-dated holding.
- 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.
- 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.
- If you are merging two or more shares in the previous year, please also do so simultaneously in the new year (2021-2022).
- 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.?
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