IT4GH Accounts - FAQ

• What does the rollup process do? A couple of things:
  1. First it looks to see if you have already done an automated rollup for this reporting period. If it finds such records in place it goes into undo mode. This allows you to unpost a previous rollup, make changes, and rollup again. Otherwise it prepares to do a rollup given your existing data. Note that automated rollup transactions are marked internally - it is not possible for you to manually create records that can be undone by the unroll process. Also, an unroll will not remove rollup records you have added manually
  2. Next it checks to see that you have at least one equity account for the currency you are rolling up. If there is no equity account then there is nowhere to post an offsetting entry
  3. Next it looks at your Income, Expense, Gains and Losses type accounts and adds a transaction to the current year on the last day of your current reporting period to move the balances into your capital account as an accumulated benefit or deficit. It does this by department so you can see in the Capital account the contribution from each department
  4. Lastly it copies the final balances of your Asset, Liability, Equity, Accounts Receivable and Accounts Payable account types to the first day of the following accounting period.