YEAR END PREPARATION - · PDF fileYEAR END PREPARATION 1 The ultimate preparation checklist...
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YEAR END PREPARATION
The ultimate preparation checklist to Year End
Enter all transactions related to the year being closed.
Update waiting posting and pending transactions in all ledgers.
Post all standing orders and direct debits.
Post all outstanding invoices on sales and purchase orders up to the year end date.
Produce and print management reports.
Ensure that the number and dates of all periods are correctly specified on the Future Financial Year tab.
Remove any disconnected logins.9
Take a backup of the data.11
Process Year End.
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Its always important to back up your data in case of a computer malfunction when running your year end. By doing a backup before you run your year end, you reduce the chance of any important data being lost.
- Ian Hill, Pinnacle Sage Support Consultant
Ensure that your aged debtors and creditors reports reconcile up to the end of the financial year for sales and purchase ledgers.
Close all accounting periods for the year in Accounting System Manager.
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