Year End Close
This screen is used to close a financial year.
The purpose of Year End closure is to lock the figures for a particular year and prevent further adjustment. Clearly we recommend you only run the procedure when you are certain that no further transactions or amendments are necessary. We also strongly recommend that you discuss with an Accountant or Advisor before running the process. The process is very simple to complete and can be run at any time after the year-end, when you are ready to do so. It has no impact on your continuing, as normal, to record information for the subsequent new accounting period.
Pending Financial Year
If there is a year to be closed, then the drop-down will display a pending year. As it is not necessary to close a financial year (although it is recommended) there may be one or more pending years. They will need to be closed in chronological order. Select the pending year and click the SUBMIT button. A warning message is displayed and requires confirmation. The year is now closed. All transactions in the closed year are displayed in listings with a locked icon and are now not available to be edited although they can be viewed and reported upon as normal.
Reversing a Year End Close
A year end close can be reversed from the batch run history screen. Locate the relevant year end close and click DELETE.
Control - Batch Jobs - Batch Run History
Year end close deletion, sets the status back to a pending year and the year is therefore open for amending as necessary.