How do I run my financial year end?
The customer can close their current financial year and move into the New Year. Their loss and profit balance clear, their records update and their financial year star date advances by a year.Before you run your year end
The user needs to post all their outstanding transactions for the year they are closing. It includes all the adjustment from their accountant. For the normal run a month end, they should complete that too. The user and their accountant can print their balance sheet, loss and profit balance sheet.Run the year end routine
- Select setting, select change program Date, enter the last day of their financial year then select ok.
- Select tools and period end and click on the Year End.
- Select check data and select close.
- Select check COA and select ok, select backup, click on Ok.
- On the other hand, if the user wants to create an archive of their data, check box selected.
- Click on the budgets, check box and select their budget options.
- Select Run Year End and select yes. Select Ok, select on again.
- After the year end and check your financial year start date is correct
- Select setting and select Financial Year.
- Check that the data is correct.
- Check their brought forward trial balance
- Select Nominal codes, and then select Trial Balance.
- Preview, Select, Run and in the drop down list select Brought forward.
- Select ok and check that there is no balance on their profit and loss nominal codes.
- Change their program date.
- Select setting and select change program date.
- And select on Ok.
Source: https://goo.gl/ZqRNqh
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