Year End Handling

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Overview

 

When you start a new year, you need to bring forward the values of your assets and liabilities from last year into the new year. MoneyBox does this automatically and keeps these brought forward balances up to date when changes are made.

 

MoneyBox can also recalculate all brought forward balances across all the years of your accounts staring with the first year and calculating year by year up to date.

 

YEBringBFwdsUptodate

 

If you need to make adjustments to last year's Income and Expenditure (I&E ) accounts to reflect receipts and payments due or in advance at the end of the year:

 

YEAccrualsTab2 Click the Create Accruals tab.

 

Use the ReviewAc review account button to view specific last year income and expenditure accounts.

 

Use the YEAdd add C/Fwd button to create accruals as necessary.

 

This creates the I&E balances in last years accounts. You must follow the procedure above to bring forward these new balances into this year's accounts.

 

If you need to make changes to the Income and Expenditure (I&E) accruals:

 

YEReviewCFwd2 Click the Review Accruals tab.

 

Use the YEChange change C/Fwd button or the YEDelete delete C/Fwd button to make the necessary changes.

 

You must follow the update B/Fwd balances procedure above to bring forward these new balances into this year's accounts.

 

If you need to review all the balances brought forward into this year - I&E accruals and asset and liability balances:

 

YEReviewBFwd2 Click the Review GL B/Fwds tab.