Running the year end is similar to monthly period ends so you should follow
your normal period end procedures, however, there are a few extra
points to
be aware of when it is your year end:
1. Running the period end for your final period in the financial year will
automatically run the year end at the same time. There is no sperate
program for running the year end.
2. Be especially careful to ensure all postings for this financial year, including
adjustments recommended by your accountants or auditors have been
entered before you close your year end.
3. When you run the period end and it is also your year end, the total profit
(or loss) from the P&L is posted to the profit account in the Balance Sheet.
4. All MTD & YTD figures in the P&L are cleared, ready to begin calculating
for the new financial year.
6. If required, you can have a copy of your previous years nominal ledger
added to your system to allow adjustments to be made. Please contact
Calidore to arrange this.