Year End Close
After completing the fiscal year, you have the option to close your file to the next year using the Year End Close feature. When you close a file, Working Papers creates a brand new file and rolls forward the balances from the previous year's file.
How Do I?
- Configuring the Roll Forward Column
- Selecting Single Items to Roll Forward
- Selecting Multiple Items to Roll Forward
The Year End Close
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After completing the fiscal year, Working Papers provides a means to close a file to the next year. When you close a file, Working Papers creates a brand new file.
A Multiple Year End Close allows you to work with a new current year’s file, even though the previous year’s file is not yet complete.
You may close to a new file name or to a file name that already exists. If next year's file does not exist, Working Papers automatically creates the file during the year-end process.
Depending on the type of year end close completed, Working Papers will automatically perform certain actions.
You can filter the documents on the Document Manager to view items to be rolled forward or those that are not.
The Year End Close and Roll Forward dialog selections determine the content to be included in the next year's file.
If retained earnings are to be distributed to more than one account, the account numbers for Opening Retained Earnings must be specified in this dialog.
A listing of accounts with outstanding transactions.