If you have access to the Year-End Procedures in Back-office, you will be able to process a Year-End.
NOTE: Please make sure that you have finalized all entries including the year-end journals provided by your auditors/accountants before processing the year-end.
1. In Advantage Back-office, click the left sidebar menu.
2. Click on the Accountant menu.
3. Open the Year-End Procedures module.
4. A list of the completed Year-End Procedures will appear.
5. In order to select the financial Year-End you would like to process, tick in the box next to General Ledger Year-End Procedure
6. If you would like to change the financial Year-End, click on the Accounting period drop-down and select the financial year to be processed.
7. Once you have selected the applicable year from the drop-down it will change to the selected year under Procedure Description as well.
8. If the selection of the financial year as per the Procedure Description is correct click on Do Year-End Procedure.
9. The following system message will appear:
This message explains that the income and expenditure accounts will be transferred to the retained earnings where they accumulate after each year end (This is the purpose of a Year-End Procedure). Click on Yes
10. The following system message will appear after clicking on Yes:
This message is to confirm that you want to process the Year-End Procedure; click on Yes if you wish to proceed.
11. You will now receive the final system message confirming that the Year-End Procedure has been processed successfully:
Click on Ok.
NOTE: If you would like to delete a year-end, learn How do I delete a Year-End Procedure?