The year-end function makes a copy of your General Ledger transaction details and increments your current financial year start and end dates. The financial year date range is set in the Firm Settings screen and is used, similar to the default posting month, by posting programs, by reports and by the year-end function itself. Run the year-end function when you are ready to start posting into the next financial year.
The year-end function makes a copy of your G/L transaction details and adds one year to your current financial year date range. Your financial year date range is set in the Firm Settings function and is used, similar to the default posting month, by posting functions, by reports and by the year-end function itself.
You will be unable to post into the next year until you have run the year-end, but you are able to post into the previous year - most posting functions enable you to post directly into the previous year by providing a password after entering a date falling within the range of your previous financial year. The password is to prevent postings accidentally entered into the previous year.
Year-end procedures include the daily work such as adding new Client Files, posting transactions, performing a backup, printing transaction audits, and printing the System/File Balance reports, as well as specific year-end steps such as printing reports. If you post your transactions on a regular basis, the year-end steps can be completed quickly and easily.
You will be unable to post into the next fiscal year until you complete the year-end procedures for the current year.
Use this list as a guideline only - review these steps and customize your procedures to suit your firm.
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Ensure all posting for the year is complete. You can post to the prior year if adjustments are necessary after completing the year-end, but if you do so you will need to re-print your year-end reports.
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Post adjusting journal entries, including bank adjustments if necessary.
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Print the System/File Balance reports. If your system is out of balance, read the Help topic: Tips for using Amicus Small Firm Accounting > General > What to do if your System Balance is out of balance. If there are Client Files listed on your File Balance, read the Help topic: What to do if there is a Client File on your File Balance report.
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After you have ensured your system is in balance, print your year-end reports. View a list of recommended reports.
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Print all unprinted transaction audits.
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Do a backup.
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Choose Month/Year End, Year-End.
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Enter the year-end date and confirm that the financial year start and end dates accurately reflect the date range of your new financial year.
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Enter the password DOYEAREND and click Proceed.
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Set your new default posting month.
