Once I have done a Year End, will I still be able to post to the previous financial year?

In Omni Accounts the Year End process does not stop you from posting transactions into any financial year except for what is your Previous Financial Year before the Year End process is run.

For example, looking at the image above, if a year end is processed, then the Financial Year 2010-2011, will no longer be available. 2011-2012 will become the Previous Financial Year, 2012-2013 will become the Current Financial Year and 2013-2014 will be created and will become the Next Financial Year.

To allow posting into a financial year:

• in 7.14.61 and later go to File | Change Periods, Set Open Periods.
• in 7.13.60 and before check that the “Allow processing for this financial year” is ticked in the Period Setup screen.

See How do I go about entering adjustments my accountant has given me? Remember to disallow processing for the previous financial year again when you have completed your year end entries for the previous year.

If for some reason, you need to post transactions into the year before last, then you will need to do a Year End Reversal. This can be done by going to File | Yearly Function | Year End Reversal. If you do not have this option, then you are running an old version of Omni and will need to upgrade. You will then redo your Year End again once you are done. See here How to process a year end.