Year End processing and Rollback Year-end

The Year End will close off your current financial year and this will block changes to past year transactions via the regular menu. The year end function clears down the profit and loss nominals, posts the calculated depreciation permanently against the fixed assets and closes the financial year.

Rollback Year End allows a processed year end to be undone without losing transactions which have been entered post year end.

Year-end

From the main menu, click on Admin > Year-end

The Year-end Date will automatically show 12 months after the start date of the data, but this can be changed to any date after the start date.

You will need to select a posting nominal. Click on the magnifying glass icon to display all the Capital nominals. If you do not have one set up for Retained Profit/Loss then a new one can be added here.

Click on Calculate to show the Profit or Loss. The blue icon on the left allows you to open the Profit and Loss report for the year.

Underneath the header section are a list of checks to ensure you do not run a year-end with outstanding issues. 

Once all the checks are green you can Process the year-end. Once it has finished processing you will see a message to say it has been successful and asking you to close any open tabs.

Rollback Year-end

From the main menu, click on Admin > Rollback Year-end. Please note the warning about opening balance adjustments.