Accounts Year End
From 24-7Wiki
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Sage
When using Sage, before running the year end wizard, please take year end backups, and print out copies of the following reports:
- Unreconciled items report (this report needs to be run before any records are entered and reconciled in the following FY)
- Profit and Loss
- Balance Sheet
- Trial Balance
These print outs should then be stored in the office files, and saved as pdf's placed in the online document library, along with the Sage Backups.
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Quickbooks
When using Quickbooks there is no year end process to be run, as the system can be run continuously with reports generated against the prior years accounts as necessary. However, it can be useful to set a closing date on the accounts with a password once the years accounts are finalised, so that changes to the previous year are not made in error.
- Select the company menu
- Click the set date/password button
- Enter the end of year date and the password fields
