Run a year end close
The year end close task enables you to close out client files in bulk when you're ready to start the next year's engagement.
To run a year end close:
- On the Tasks list, click Year End Close.
- (Optional) Select Filter by Year End Date to filter your engagement files by the year end date. The year end close will only run on files within the specified date range.
- (Optional) Select Lock down the original file to ensure no changes will be made to the original file.
- Select the naming conventions for the next year file:
- New file name: Select whether to use the Operating name or Client number from the Engagement Properties dialog as the name for the next year file.
- Add the year end date to the file name: Select whether to include the year end date in the next year file name, whether to prepend or append it to the file name, and specify the date format.
- Click Next.
A list of engagement files displays based on your directory and filter configurations.
Category Description Name Displays the name of the Working Papers file. Analysis
Displays a brief description of why updates are not available or supported. The following are examples of analysis results:
- Locked down
- Client file version lower than minimum supported Template version
- Client file already on the latest version of the Template
- File Signed Out
- File Checked Out
- Year End Date out of specified range
- Unknown Version
- Incorrect Username/Password
Deselect any files that you do not want to include in the year end close.
Click Next to run the year end close.
Note: You can click Cancel at any time to stop the year end close process, though in-progress and completed files will still be closed.
- A summary of the year end close displays. Click View Report to view the results in greater detail.