At the end of your financial year, it is mandatory for the year end procedure to be run, however this does not have to be run on the actual day your financial year finishes.
1. Ensure that all transactions have been entered for the year you are closing.
2. Print all of the reports your business requires. As a minimum we would recommend the reports detailed above.
3. In Settings > Change program date, change the software date to the last day of your financial year.
4. Take two backups of your data in File > Backup, ensuring that these backups are stored in a secure location. It’s useful to label these backups as ‘YearEnd2012_1.001’ and ‘YearEnd2012_2.001’ for example.
5. Within Tools > Period End > Year End, check all the details are correct then click OK to complete the process. As part of this process an archive is automatically created. The archive is a ‘read only snapshot’ of your company at the point the year end is run. To access this at a later date, go to File > Open > Company Archive.
Running this process doesn’t stop you from being able to process transactions back into the year you have just completed, unless you have set a lock date.
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