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:

  1. On the Tasks list, click Year End Close.
  2. (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.
  3. (Optional) Select Lock down the original file to ensure no changes will be made to the original file.
  4. 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.
  5. Click Next.

  6. 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.

  7. 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.

  8. A summary of the year end close displays. Click View Report to view the results in greater detail.