faq:how_to_complete_a_yearend
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speedy:faq:how_to_complete_a_yearend [2020/07/27 17:27 (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 ====== | ====== Year-End Procedure ====== | ||
+ | See [[https:// | ||
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, | 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, | ||
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**14. Final Adjustments** \\ | **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. | 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. | ||
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+ | ===== Closing of Minimum Book Month ===== | ||
+ | **[[https:// | ||
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+ | 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 " | ||
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+ | To advance the Ledger Book Month select the following menu path: General Ledger > [[https:// |
faq/how_to_complete_a_yearend.1595896053.txt.gz · Last modified: 2020/07/27 17:27 (4 years ago) by jege