Overview
After the Financial Statements have been audited and reported to the market, it is of extreme importance that these numbers are no longer changed, ensuring safety in the reported information and generating trust in the reporting via Accountfy.
How to carry out the Blocking of Fiscal Years
.On the upper part of an Economic Group screen, click on the options list with your group’s name and select the Edit group option.
On the group information screen, drag the sidebar to the bottom of the screen.
- First, click on the calendar icon and select the last month of the period you want to block. For instance, if you want to block all the fiscal years until Dec/21, select DEC/21 on the calendar. This shall block all the months from the first balance sheet present in the platform until December 2021.
- You can choose the kind of Operation on the desired Result;
2.1) With reversal:
When reclassifying an account that reports an amount in the blocked period, the original account will show a balance on the first non-blocking month equal to the accumulated balance with reversed sign and YTD equal to zero. Meanwhile, the reclassified account will have as balance on the first non-blocking month an amount corresponding to the balance of that month + YTD of the blocked period.
For instance, if you block a fiscal year until January containing a General Expenses account with a balance of BRL-1000 on January and on February a balance of BRL-1500, if you decide to reclassify it on February, the YTD shall be allocated as balance on the reclassified account, see image below:
2.2) Without reversal:
When reclassifying an account that reports an amount in the blocked period, the original account will show a balance reallocated on the first non-blocking month. Meanwhile, the reclassified account will have as balance on the first non-blocking month only the balance corresponding to that account for that month.
For instance, if you block a fiscal year until January containing a General Expenses account with a balance of BRL-1000 on January, and then on February you decide to reclassify it, the balance of the reclassified account on February shall be BRL-1500, see image below:
- Click on UPDATE in order to activate the Blocking of Fiscal Years.
Impact of the Blocking of Fiscal Years
When blocking a period, all the group’s companies and modules shall be impacted, and some functions may be disabled.
Managerial Structures
Structures that cannot be edited or repositioned:
- Structures of the type ( – ) Costs/Expenses on the Result, ( + ) Revenues on the Result, Managerial Structure on the Asset and Managerial Structure on the Liability or Net Equity which report an amount on the blocked period.
- Summation structures for all the screens (Asset, Liability, Result, Direct Cash Flow and Indirect Cash Flow). These structures also cannot be added.
Structures that can be edited or repositioned:
- Structures of the type ( – ) Costs/Expenses on the Result, ( + ) Revenues on the Result, Managerial Structure on the Asset and Managerial Structure on the Liability or Net Equity, which are added after the blocked period and/or report no amount on that fiscal year.
- Structures of Margin (in %) on the Result and Operational Indicators.
Upload of Information
It is not possible to upload Balance Sheets or Ledger for the blocked periods. This rule is valid for individual and multiple balance sheets.
Accounts Plan:
The accounting accounts that have already been classified and belong to the blocked periods have their editing deactivated in order to prevent changes in the final balance. If you want to change the classification of the account, just select it and click on “Reclassify account”.
When carrying out this action, the original accounts shall receive the suffix “(MM/YYYY)” on the blocked periods and the reclassified accounts shall be free for editing.
When reclassifying them, the changes shall be considered only for the non-blocking periods.
Costs and Tags Center
Any changes on the Costs and Tags Centers, as well as their deletions, will be blocked. The creation of new ones will still be allowed.
Financial Statements
The same occurs for the Managerial Adjustments, so, all the editing, deletions and changes in the formulas can impact the blocked periods.
Consolidation
- Creation, deletion and editing of Eliminations are desactivated for the periods with blocked fiscal years. In addition, it is not possible to copy the logic of other months to a blocked month.
- The Consolidation scenario is blocked for the blocked periods. Thus, it is not possible to change the Controller Company, Company Partner and Currency fields.
- The exchange rate of the blocked periods cannot be changed. However, the nomenclature admits changes.
Financial Modeling
The Blocking of Fiscal Years does not block actions in the Financial Modeling. Just as the managerial adjustments made on the Financial Statements screen, adjustments carried out in this module can also be altered by changing the amount of the blocked periods.
Deleting a Blocking of Fiscal Years
In order to eliminate the blocking and releasing editions on the blocked period, go to Edit group and select “Remove Blocking of Fiscal Years”.
After removing the Blocking, the suffix of the original accounts shall be maintained. So will the change of classification for the reclassified accounts.
