Auto A/c Balance Transfer To Next Year

YouTube: How to Enable Automatic Account Balance Transfer to Next Financial Year?

How to Enable Automatic Account Balance Transfer to Next Financial Year?

In this tutorial, we will explore the Auto Account Balance Transfer feature in Logic ERP, which allows balances to be carried forward to the next financial year automatically. This eliminates the need to manually close books at year-end.

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Access the Setting in Logic Admin

• Open the Logic Admin Panel.

• Navigate to the Global Settings and click to Account Voucher

• Locate the option labeled as: “Auto Account Balance Transfer to Next Year”

• This setting comes with a dropdown menu offering different transfer methods.

  • Disabled (By Default)

  • Transfer BR/BP Wise

  • Transfer Consolidated

As mentioned above, follow the given steps and select the appropriate option from the dropdown as per your requirement.

• After selecting appropriate option, save the settings.

• Restart Logic ERP to activate the changes.

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Transfer BR/BP Wise Functionality:

• Log into the previous financial year.

• Record a few purchase transactions using Bank Receipt (BR) or Bank Payment (BP).

• Save the entries.

Now switch to the new financial year:

• Navigate to the Cash Payment entry screen.

• Open the Adjustment Window.

• You will see that pending BR/BP entries from the previous year are automatically available for adjustment.

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Transfer Consolidated Wise Functionality

• Log into the previous financial year.

• Enter another purchase bill and save it.

Now move to the new financial year:

• Open the Cash Payment window.

• In the Adjustment Window, observe that the consolidated account balance from the previous year has been successfully transferred and is available for adjustments.

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Conclusion

The Auto Account Balance Transfer feature in Logic ERP significantly simplifies the year-end process by:

• Carrying forward BR/BP entries for transaction-level accuracy.

• Optionally transferring consolidated balances for streamlined financial management.

This ensures a smooth transition between financial years and reduces the workload of manual ledger closure.