The full user guide can be found in the Support Centre at www.ppsupport.com.au
End of Financial Year
Step 1. Complete your normal end of month procedures.
Print your aged balance reports for Accounts Receivable and Accounts Payable.
For tax reasons, you will probably need a valuation of your stock at 30 June. You should print a
stock valuation report from Stock and Purchasing. For helpful hints on discrepancies and checking
the value of your product groups please see the End of Year User guide.
Ensure the Periods are changed for Accounts Receivable, Accounts Payable, and General Ledger to
the beginning of the new financial year.
Step 2. Take a backup and store in a safe place as your End of Year backup.
Step 3. Generate any End of Financial year reports required by your accountant.
Remember to run the Financial Report Preparation before generating any General Ledger reports.
General Ledger | Reports | Financial Report Preparation
Preparing information for your accountant
1. If not done so already, make sure all batches relating to the financial year just finished have been
posted.
2. Run a report preparation (General Ledger | Reports | Financial Report Preparation) for the period
yy01 to yy12 (where yy = current financial year).
3. Print the General Ledger trial balance (General Ledger | Reports | Trial Balance).
This will only print a few pages.
The following two reports could print hundreds of pages. Your accountant may or may not
require them – you may like to consult him/her before you print. (They can be printed in future if
required, as long as you have not purged transactions).
4. Print the General Ledger audit trail (General Ledger | Reports | Transaction
Audit Report). Note – this is a huge report. In practice, most people do not print this.
5. Print the General Ledger (General Ledger | Reports | Print General Ledger).
Note – this is a huge report. In practice, most people only print this report for selected accounts as
requested by their accountant.
6. If your accountant wishes to see the transactions that make up the balance on individual
accounts, the Account Detail report is good for this.
We recommend that you do a year end close after preparing the reports for the accountant.
Go to General Ledger | Year End | Create Year End Closing Batch. This will create and post a
special “closing” General Ledger transaction batch.
Step 4. After you receive the final balance sheet from your accountant, you will need to
make some adjusting entries for the previous year, to bring your accounts into line with those they
have prepared. Your accountant should be able to assist you with this.
If you have created the Year End Close Batch you will need to run the Undo a Year End Close to
adjust the figures and then rerun Create Year End Closing Batch.
You can do this procedure as many times as you require