**Year End Close** This option Closes off the current **Trial Balance** and you will need to import all your **Closing Balances** in the New Year

Select the Relevant Options under **Financials**

**Copy CURRENT Financial Statements** is Selected to use the same Template as the Prior Year, ensuring all Custom changes and Formatting remains on the Annual Financial Statements.

**Update Default Reports** is selected to keep the Relevant Reports Current and up to date, the Reports to be Updated can be Selected under **Update Reports**.

**Move Current Notes to Prior** ensures manual Additions on your Notes will be moved to the Prior Year when performing the Year End Close, e.g. Additions and Disposals in your Property Plant and Equipment Recon.

**Copy NEW Financial Statements from Template** will Update the **Client File** with new Annual Financial Statements from the Template. You will lose any Changes made in the Prior Year.

The **Framework** and **Working Papers** of the **Client File** can be Changed for the New Period by using the Drop down to select the Relevant Framework or Working Papers

Select **Roll Forward into Next Year** to Perform the **Year end Close** and Create a **Client File** for the Following Year. **Roll Forward into Next Month** is used for Monthly Management Statements.

After Selecting the Relevant options, Select **Next**

Recent Framework Disclosure Updates are shown under **Disclosure Update**, Select or Deselect the Update if in Black, if the Update is Greyed out it has been Applied already. Select **Next** after Selecting the Relevant Updates.

If **Copy CURRENT Financial Statements** was selected under **Roll Forward Options**, the **Update Reports** option allows you to Replace Selected sheets with new Sheets from the Template, while still copying the existing Annual Financial Statements. Select **Next** after Selecting which Reports to Replace from the Template.

Under **Update Working Papers,** Select the Working Papers that must be rolled forward and included in the Following year's **Client File**. Select **Finish** to Perform the **Year End Close**.

**RAC** Working Papers should not be Selected to Roll forward on this screen as it has a built-in Roll Forward Function on the Working Papers.

The **Client File** for the New Year is Created and Opened

The Prior Working Trial Balance has been closed off After performing a **Year end Close**. There are no values in the Opening Balance Column, the Closing Balances of the Current year is imported into the Opening Balance column.

This guide provides instructions for completing a year-end close in Draftworx Desktop, ensuring accuracy and efficiency in financial reporting.  Overall, this resource is essential for anyone looking to streamline their year-end closing procedures.

Draftworx Desktop: Performing a Year End Close - DX112