A Year End performs a balance forward of financial data; carrying it to the next accounting period.
Start Year End
- Select the client that you want to perform the year end for.
- Click the Accounts Production tab and double click the latest accounting period to open it.
- Click Year End under Actions.
- (Optional) Select Zero the trial balance.If the Zero the trial balance check box is ticked. Then CCH AP sets the balance on all accounts to zero in the new accounting period created on the balance forward. If it is not, balances on accounts is carried forward in accordance with the close down settings on each account, producing the Opening Trial Balance in the new accounting period.
- Click OK.
- Click OK when the Roll forward complete message appears.
You can only perform a year end under the following conditions:
- you have the latest accounting period open
- there is more than one reporting period
- you are in the last reporting period.
If the above conditions are not met you will be unable to select Year End under Actions.
For a detailed explanation of the year end process and other reports see Reporting Periods.
What Happens After the Year End?
Following the year end, the list of accounting periods shown in the client’s Accounts Production tab are updated to reflect the new accounting period created. You can open it by selecting it from the list, or switching the open accounting period to the new one using the drop down list above the Actions panel when the Home Page is displayed.
Note: If you have entered reversing journals, they are automatically reversed in the new accounting periods after the balance forward,