How to complete a financial year end

Before you start

Prepare for year end first. Once done, you're ready to run your Year end.

Run the Year end

 TIP: We recommend you run this routine on the computer that holds your accounts data. 

1. Click Tools, point to Period End, and then click Year End.
2. Click Check Data.
   
   CAUTION: Have errors? Follow the steps in our A - Z index of Check Data errors, warning and comments guide to fix them. 
   
   
3. Have zero errors? Click Close.
4. Click Check COA, then click OK, receive an error? Use the following guide: Chart of Accounts - identify and fix errors >
5. Click Backup, click OK then click OK.
6. To Archive your company data, select the Archive check box.
7. Confirm the details on the Archive Company window.
8. To set up budgets for your new financial year, select the Budgets check box and choose your budget options.
9. Check the date is the year you're closing and, enter a lock date to Prevent postings before a specific date.
10. Click Run Year End then click Yes and click OK.
11. Select how you want to output the report, click OK, then click OK again.

NOTE: The year end procedure may take some time. If the Software freezes when running year end, don't close it, as the year end procedure may still be running.

After running year end

We recommend three simple checks to ensure your data is all set for your new financial year: