Actionstep Accounting does not require a Year End Process. Your data sits in your system forever - no more loading a disk with the back up from last year when trying to find something. This means that all Action Accounting entries can run and calculate for the duration of the action.
The Current Earnings will move to Retained Earnings as at the Financial Year Start date as set in your system. This is an ongoing calculation so no rollover is required.
We recommend that you follow the usual Month End Process.
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You are able to unlock the lock out date when your external Accountant requires changes. |
It may be that your External Accountant does require changes to be make and we encourage you to work with then to ensure that the Actionstep system is a true reflection of your current Financial Position. It is likely that they will give you a General Journal to enter, if they do not it means one fo two things:
- Your Book keeping is perfect (congratulations)
- They are making changes prior to filing your end of year results which they are not giving to you - this would mean your system is incorrect.
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See updated article on Actionstep Help Center: https://support.actionstep.com/hc/en-us/articles/360039680954-Year-end-process |