View - Accounting - Year End
The transition from one accounting year to the next requires that you perform certain procedures, which by and large 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 undertaking regular reconciliations throughout the year.
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.
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