Set Start And End Dates For Financial Year

Purpose:
To provide the essential start and end of your current year or to process a year end.

The form to change the dates is accessed by clicking on the Set start and end dates for financial year title -(hyperlink).

Change the dates manually or use the Datepicker then click on Set Financial year.

Process Year End
At the end of the year the accountant will extract the trial balance and make any necessary amendments through journals, complete the bank reconciliations etc. The client can continue to raise invoices etc. As long as he dates the documents outside of the financial year dates all will be ok.
Once the accountant is happy he will produce a final Trial Balance and Management Accounts, then Process Year End. Amendments can be made later, if necessary, but only to the Balance Sheet accounts. Also see next article.