Year End

View - Accounting - Year End

The transition from one accounting year to the next requires that you perform certain procedures, which ensure the correct cut-off times in your accounts.

Year End and the closing of your annual accounts usually entail a heavy workload and short deadlines. Some companies are occupied with Year End procedures for several months, sometimes even for up to half a year. Good planning, structured work systems and coordination can contribute to reducing the work pressure considerably.

Some tasks can be completed or prepared before the actual Year End. If your company has established good routines for regular reconciliations throughout the year, the extra burden at Year End will not be too heavy.

Generally, Year End procedures ought to be the same year on year. A good tip for reducing the workload is to have a written procedure manual (task list) as well as to undertake regular reconciliations throughout the year.

Year End usually raises some questions regarding how to carry out the procedures in Mamut Business Software. Therefore, we hope that this Year End manual will prove to be a useful tool, which can answer the majority of your questions and help assist you with an easy and successful Year End.

Good luck with your Year End!

Year end export
When you have finished your Year End procedures in the program you can export the Year End Trial Balance for further processing by your accountant/auditor.

Refer to the Mamut website, www.mamut.com/uk/yearend, for more information about Year End.