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--- speedy:faq:how_to_complete_a_yearend [2020/07/27 17:24 (4 years ago)] – [Recommended Procedure to Complete Year-End] jege
+++ faq:how_to_complete_a_yearend [2021/03/12 14:46 (3 years ago)] (current) – tanya
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 ====== Year-End Procedure ======
+See [[https://support.windwardsoftware.com/a/solutions/articles/66000482026]]
 Contrary to popular belief, “year-ends” do not happen on the last day of your financial year. You must wait for bank statements and last supplier bills to arrive. Then, after posting all transactions you are aware of, you send the information to your accountant and wait for the deprecation, tax planning, and other adjusting entries to be returned to you. By the time you’ve completed your year-end, it could be months later.
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 **12. Print and Check the Aged A/P Report** \\
 The Aged A/P report shows you the total amounts owed to each supplier and should agree with the value of Accounts Payable on the Balance Sheet. \\
-**13. Send reports to your Accountant** \\
-Send copies of the Balance Sheet, Income and Expense Report, Aged A/R, and Aged A/P report to your accountant. They may also request a copy of your inventory report, but normally they just require the total inventory value. They may also request details from some accounts, such as advertising expenses. You can print a transaction report for the accounts requested, but don’t print the list for all accounts as it is very lengthy. If the accountant wants a list of all transactions for all account numbers, you can print the report or export the report to an Excel spreadsheet and save it in your local drive or save it elsewhere (external drive). \\
-**14.Final Adjustments** \\
-When your accountant is done, you will get a list of adjusting entries for depreciating some of your assets and other calculations that are important. Create a journal entry for each of these and post them to the last day of the previous financial year. That’s it, you’re finished. \\
 **13. Send reports to your Accountant** \\
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 **14. Final Adjustments** \\
 When your accountant is done, you will get a list of adjusting entries for depreciating some of your assets and other calculations that are important. Create a journal entry for each of these and post them to the last day of the previous financial year.
+===== Closing of Minimum Book Month =====
+**[[https://academy.windwardoncloud.com/#/assetviewer?id=30013806-de7a-413c-4571-ed4b07da570d|Book Month]]** is Windward term that describes the accounting period to which the system posts transactions. Windward System Five has separate Book Months: sales (A/R Book Month), accounts payable (A/P Book Month), and General Ledger (Ledger Book Month). The Book Months advance automatically.
+The Minimum Book Month prevents users from editing posted entries (Invoices, Journal Entries, etc.) that have occurred before the minimum book month. Also, it will change the "Unposted Book Month" on all Estimates, Work Orders and Layaways so that they can be edited even if they were created before the current minimum book month.
+To advance the Ledger Book Month select the following menu path: General Ledger > [[https://selfhelp.windwardoncloud.com/System5Closing_Routines_command.htm|Closing Routines]].