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CountServa · CountServa: Accounting and ERP Manual

Period-End, MFRS and Planning Tools

VYROX Wiki · Updated 23 September 2026 · https://www.vyrox.com/wiki/countserva-accounting-period-end

The period-end, MFRS and planning tools in CountServa let you close each month and year properly: revalue foreign-currency balances, provide for expected credit losses, write off bad debts, account for leases and deferred revenue, consolidate a group, keep a register of loans, agreements and company letters, and plan with budgets, projects, sales agents, sales areas and timesheets. They are used by owners, in-house accountants and outside accountants preparing MFRS or MPERS accounts in Malaysia.

All of these live in the Accounting menu, grouped under Records, Opening & Go-Live, Period-End & MFRS and Planning. The Period-End & MFRS group also holds Auditor Queries (see Audit Tools and Auditor Access) and CP58 Forms Received. The basics (Chart of Accounts, Journal Vouchers, Recurring and General Ledger) are covered in Chart of Accounts and Journals.

Before You Start

  • You need accounting rights for the screens you use. Your menu only shows what your role allows (see Users and Roles).
  • Post your invoices, bills, receipts and payments for the period first, and reconcile the bank (see Banking and Bank Reconciliation).
  • Every item on this page posts a journal entry. A posted entry is corrected by voiding it and posting again, never by editing.

Period-End & MFRS

FX Revaluation

Under MFRS 121, money owed to you or by you in a foreign currency is retranslated at the closing rate at period end.

  1. Go to Accounting > FX Revaluation and press New Revaluation.
  2. Enter the As at (Period End) date and press Load Balances. CountServa lists each open foreign-currency balance with its Currency, Type, Foreign Balance and carrying amount.
  3. Enter or check the Closing Rate for each currency.
  4. Press Post Revaluation. The unrealised gain or loss posts on that date and reverses automatically the next day.

The list shows each Revaluation # with its Unrealised Gain, Unrealised Loss and Status. Open one and press Void Revaluation to cancel it.

Impairment (ECL)

The expected credit loss provision applies a loss rate to each receivables aging bucket.

  1. Go to Accounting > Impairment (ECL) and press New Provision.
  2. Enter the As At Date and press Recompute Aging.
  3. For each Aging Bucket, enter the Loss Rate (%). CountServa works out the Expected Loss.
  4. Press Post Provision. Only the movement since your last provision is posted.

Press Void Provision on a posted provision to reverse it.

Bad Debt Write-Off

  1. Go to Accounting > Bad Debt Write-Off and press New Write-Off.
  2. Choose the Customer and the Date, and enter a Reason.
  3. The customer's open invoices appear with their Outstanding amount. Enter the amount to Write Off against each one.
  4. Press Write Off & Post. CountServa posts Dr Impairment Loss and Cr Trade Receivables.

To reverse a write-off posted in error, open it and press Void.

Tip

If the invoice carried SST, you may be able to claim bad debt relief. Record it as a tax adjustment; see Tax: SST, Income Tax, Withholding Tax and CP58.

Leases (MFRS 16)

  1. Go to Accounting > Leases (MFRS 16) and press New Lease.
  2. Enter the Description, Commencement Date, Term (months), Monthly Payment and Discount Rate (% per year).
  3. Choose Pay From (Bank/Cash) and press Create & Recognise. The right-of-use asset and lease liability are recognised on the commencement date.
  4. Open the lease to see its schedule of Interest, Principal, Payment, Depreciation and Liability After for each period.
  5. Each month, press Post Next Period to post that period's entries.

To cancel a lease, open it and press Void Lease. This reverses the commencement entry and every period posted.

Revenue Contracts

Revenue Contracts handle money received in advance under MFRS 15. The amount is held as deferred revenue and released to income month by month.

  1. Go to Accounting > Revenue Contracts and press New Contract.
  2. Enter the Description, an optional Customer, the Start Date, Total Amount and Months to Recognise.
  3. Choose where the money went in Advance Received Into and the Revenue Account, then press Create Contract.
  4. Open a contract and press Recognise Next Period to release one month, or press Recognise due on the list to recognise everything due up to today across all active contracts. Void Contract reverses a contract and its recognitions.

Consolidation

Consolidation builds a group worksheet from the companies you have access to in CountServa.

  1. Go to Accounting > Consolidation.
  2. Under Subsidiaries, choose a Subsidiary, enter the Own % and the Closing, Average and Historical exchange rates, and press Add.
  3. Set Period From and As At and press Apply. The worksheet shows each entity's assets, liabilities, income and profit, the non-controlling interest and the foreign currency translation reserve.
  4. Under Intercompany Eliminations, enter the Debit (Dr) and Credit (Cr) accounts and the Amount, then press Add.
  5. Press Print / PDF for a copy.

Important

If the worksheet shows Eliminations do not balance, add the missing offsetting leg before you rely on the figures.

Records

Loans & Hire Purchase

  1. Go to Accounting > Loans & Hire Purchase.
  2. Under Add Facility, enter the Lender, Facility No, Type (Term Loan or Hire Purchase), Original Amount, Interest Rate (% p.a.), Term (months), Start Date and Monthly Repayment, then press Save Facility.
  3. If the loan existed before you started using CountServa, enter its balances at your cutover date and press Post Opening.
  4. Open the facility and press Generate Schedule to build the Amortization Schedule of Opening, Principal, Interest and Closing for each due date. Use Post and Pay on each instalment row, or Void to reverse one.

Contracts & Agreements

A register of the agreements that affect your accounts: banking facilities, hire purchase, tenancies, insurance, supplier and customer contracts, employment, guarantees, licences, shareholder agreements and more.

  1. Go to Accounting > Contracts & Agreements and press Register a Contract.
  2. Enter the title, type, counterparty and dates (Dated, Starts, Ends and the next review date), plus the contract value and any guarantee amount.
  3. Record what the agreement does to the books, so the terms are not rediscovered at audit time.
  4. Open the contract to add parties such as guarantors, schedule renewals, reviews, notice deadlines and covenant tests, link the records it governs, and attach the signed agreement.

The register front page lists the dates needing attention: renewals, reviews, notice deadlines and expiries due within 90 days, plus anything overdue.

Company Letters

  1. Go to Accounting > Company Letters and press New Letter.
  2. Fill in the Date, Category (such as Letter of Authorisation or Letter of Undertaking), Subject, Recipient and Address.
  3. Write the Body and Clauses, and add any Facts to print as a table.
  4. Under Person Named in the Letter, enter the person the letter concerns, if any, then the First Signatory and Second Signatory.
  5. Open the letter and press Issue Letter. A draft can be removed with Delete Draft; an issued letter is cancelled with Void Letter.

Deemed Payments

A deemed payment settles open documents against an offset account, with no cash moving, for example a small balance written off to a discount account.

  1. Go to Accounting > Deemed Payments and press New Deemed Payment (or New Deemed Receipt).
  2. Choose the contact, the Date and the Offset Account.
  3. Enter how much of each open document to Settle and press the Post Deemed button.

Contras

A contra offsets what a customer owes you against what you owe the same party as a supplier.

  1. Go to Accounting > Contras and press New Contra.
  2. Choose the Contact (customer & supplier). Only contacts set as both customer and supplier appear.
  3. Enter the Contra Date, then the amount to Offset on each invoice and each bill. The two sides must match.
  4. Press Post Contra.

Planning

Budgets

  1. Go to Accounting > Budgets and press New Budget.
  2. Enter a Name and the Financial Year.
  3. Type the Annual Amount for each income and expense account and press Save Budget.
  4. Compare against real figures in Reports > Budget vs Actual.

Projects

  1. Go to Accounting > Projects and press New Project.
  2. Enter a Code, Name, Status (Active or Closed), optional Customer, Start Date and End Date, and press Save Project.
  3. Tag sales, purchase and expense documents with the project, then view results in Reports > Project P&L.

Sales Agents and Sales Areas

Add your salespeople in Accounting > Sales Agents and your regions in Accounting > Sales Areas. Each has a Code, Name and Status. For sales agents you also pick a Type (Employee or External Agent) and the code is assigned on save (V001 onwards for employees, A001 onwards for external agents). An inactive code is hidden from new invoices but stays on past ones. Pick them on invoices, then use Reports > Sales by Salesperson and Reports > Sales by Region.

Timesheets

  1. Go to Accounting > Timesheets and press New Time Entry.
  2. Enter the Date, Hours, Rate per Hour (RM), an optional project, the customer (needed to bill) and a Description.
  3. To bill, press Bill to Invoice, pick the customer's entries and press Create Draft Invoice. Billed entries are locked.

Close and Lock a Period

  1. Go to Settings > Period Close & Lock.
  2. Under Period Lock, enter the Lock On/Before date and press Set Lock. No entry can then be dated on or before that date.
  3. At year end, under Year-End Close, choose the Financial Year End and press Run Year-End Close. Income and expense accounts are closed to Retained Earnings and the period is locked to that date.

Warning

Remove Lock and Reverse Year-End Close both ask for a reason and are recorded in the audit trail. Only reopen a closed period for a genuine correction, and tell your auditor.

Frequently Asked Questions

Why Does the FX Revaluation Reverse the Next Day?

The unrealised gain or loss is only for the period-end balance sheet. Reversing it keeps the realised gain or loss correct when the invoice or bill is later settled.

Can I Edit a Posted Provision or Lease?

No. Void it and create a new one. This keeps a clean audit trail.

Does a Budget Change My Books?

No. Budgets are targets only and are used for the Budget vs Actual report.

Why Can I Not Post an Entry Dated Last Month?

The period is locked. Ask your owner or accountant to check Settings > Period Close & Lock.

Why Is a Contact Missing From the Contra Screen?

Only contacts marked as both customer and supplier appear. Edit the contact to enable both.

Related Guides

  • Chart of Accounts and Journals
  • Fixed Assets and Depreciation
  • Financial Reports
  • Tax: SST, Income Tax, Withholding Tax and CP58
  • Audit Tools and Auditor Access