How to Perform The Year End Procedure in MyFundAccounting.Online
- Adam |
- 13 steps |
- 34 seconds
How to Access the Year End Procedure
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Select "Utilities"
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Hover over "Year end procedure"
Types of Year End Procedures
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There are 3 options for the Year end procedure. Option 1 is for "Year End Procedure (Organisation Level)". This allows you to run the year end for all groups and branches in MyFundAccpounting.Online.
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Option 2 is for "Year End Procedure (Group Level)". If you have more than one branch, this will allow you to run the year end for more than one branch at a time.
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Option 3 is for "Year end procedure (Branch Level)" which allow you to run the year end for individual branches.
Running Year End at Branch Level
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Looking at running the year at branch level, there will be "Last accounting year-locked" which will show the last year that has been processed.
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Then you will see "Accounting year to be processed" which will show the year that is next to be processed.
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You have an option to enter notes against the account before running the year end.
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Now you can then click on "Run Year end" once you are ready to proceed.
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After you have click on the "Run Year End" tab, you will have a list of year end querys to check through, before running the year end. Once you have reviewed the questions please tick the checkboxes.
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Now you have reviewed all the checkboxes, you must tick that you wish to proceed, as the process can not be reversed.
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Then "Process year end and lock transactions" will be come available to select.
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A message will then appear to inform you that the year end has been completed.
Although you will not be able to amend or add transactions for the year that you have processed, you will still be able to report on this information.
