Note: End of Day and End of Month Processing must be run on the last day of the calendar year prior to running End of Year. The End of Year program is the process that rolls the date from the current year to the new year.
The End of Year Processing program is designed to summarize data for the current year and ready the system to begin processing business for the new year.
It is important to note that when End of Year starts, the EOP Running Flag is set to "True." This means that no processing of any type (e.g., Policy Processing, Billing, Claims, etc.) can take place until after EOY has successfully completed. Once EOY has completed, the EOP Flag is set to "False." Depending on the volume of business transacted during the year, the length of time End of Year runs may vary among Diamond customers.
Extra Special Note! There is an exception based on your configuration of End of Year. If the Override the System Lock on the Last Day of the Month option is enabled, then each process is locked when it starts and unlocked when it finishes (similar to what happens during EOD & EOM). This should only be used when necessary, because this could allow users to issue policies between the running of EOD / EOM and EOY!
From the End-of-Period Execute tab, select Year as the Period Type. This shows the Name of the configuration in the corresponding field.
Of the options listed, a default check mark is placed in the corresponding check box for each process that will run at the end of the year.
All: If all processes need to be run and some are not checked by default, click All.
None: To remove all check marks from all processes, click None. You may then select only those processes you wish to run by clicking in each process' check box.
Roll System Date
Reset Yearly Premium Totals
Process Claims
The End of Year Process is the program that rolls the system date from the last day of the year to the first day of the next year. Therefore, a check mark should default in the Roll System Date field. This ensures that the system's date automatically changes from one (1) day to the next before users begin accessing the system and begin entering transactions for the next business day.
To process and summarize the yearly premium totals, a check mark must display in the Reset Yearly Premium Totals field. When this process runs, the system resets the year to date totals in the EOP Premiums table. The year-to-date written premium and year-to-date earned premium fields are set to zero (0). The unearned premium prior year is set to unearned premium.
Note: This process will only run provided the "Write Monthly Premium Totals" has successfully run for the same system date!
All financial numbers are rolled during the Write Monthly Claims Totals process during End of Month Processing.
This is similar to the Reset Yearly Premium Totals process; however, it is used with the EOD Process Daily Exposure and EOM Write Monthly Totals functions. On the last day of the year (after EOD and EOM have completed), this process sets the exposure written dates to zero, the exposure earned days YTD to zero and the exposure unearned days for the prior year to exposure unearned days.
Once the appropriate options have been defaulted or individually selected, select the Start button.
The system:
Records an Elapsed Time when a process is running / finished
Displays "Processing" during an item's run
Shows if the process completes in the Result column
When End of Year completes, the system records both the Start Time / End Time as well as an Elapsed Time to complete all processes selected. The following validation is displayed: "The current system date has been rolled from MM/DD/YYYY" (last day of the month) to MM/DD/YYYY 9first day of the new year; click OK.
At the bottom of the screen, a message displays: "Completed successfully."
To exit the screen, select the "X" in the upper right.