Year end FAQ

Yes, you can post any transaction types into your new financial year before you run the Year End. This means you can keep up to date with current invoices while you are still finalising your year end accounts.

When you post a transaction into your new financial year, the following Warning message appears:

'This date falls outside the current financial year. OK'.

This message is for information purposes only. If you have specified the correct date, to post the transaction, click OK. To stop this message appearing each time you enter a transaction in the next financial year, select Pause this message for financial year and then click OK.

1. File > Open > Company Archive.
2. Select the Archive Data you want to view > Open.

1. Modules > Nominal Ledger > Journals.
2. Enter a date and reference for the transaction then enter the relevant details to record the year end adjustments.

Note: The date entered should be the last day of the previous financial year.

3. Save > when prompted to continue > Yes > Close.

If you don't run the Year End option the following information does not get updated in your Accounts software:

• Journals are not posted to transfer the prior year profit and loss values to the profit and loss account on the balance sheet. This means your financial reports are incorrect.
• Budget values are not updated.
• The actuals and prior year values on your nominal codes and stock records may be incorrect.