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.
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:
Use the
Use the
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:
Use the
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:
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