Year End Closing / Check

5.0. YEC Check

Check after Post - Print the Profit & Loss Report


Alert
STEPS:
  1. Click on REPORT Activity
  2. Click on FINANCIAL Module
  3. Select PROFIT/LOSS
    The profit and loss statement is a summary of the income for a period and subtracts the expenses incurred for the same period to calculate the profit or loss for the business
  4. Select the period, display on the left top module
  5. Click REFRESH display on the right bottom module
    Total Revenue - Total Cost - Total Expenses = Profit
    After done the year end closing the profit will post to Balance Sheet Retained Earned
  6. Select the REPORT to print

Ticking "Include Current Year End Closing" in Profit & Loss



Alert
STEPS:
  1. If you have ticked on “Include Current Year End Closing”, display on the left top module. It will show Zero value.
    Meaning that your year end closing is already b/f all the Profit & Loss items to your balance sheet and there are no more Profit & Loss items for this period.
  2. Tick INCLUDE CURRENT YEAR END CLOSING, display on the left top module.
  3. Click REFRESH, display on the right bottom module.
  4. Select the REPORT to print

Check after Post - Print the Balance Sheet report


Alert
STEPS:
  1. Click on REPORT Activity
  2. Click on FINANCIAL Module
  3. Click on BALANCE SHEET
    Balance Sheet Report is presents a company financial position at the end of this financial closing period
  4. Enter your Financial Period End Date, display on the left top module.
  5. Click on REFRESH, display on the right bottom module.
  6. Select the REPORT to print

    Note:
    Accumulated Profits & Loss is the Retained Earning from previous Financial Year.
    Current Profit/Loss is the Profit/Loss for selected financial year.

Ticking "Include Current Year End Closing" in Balance Sheet



Alert
STEPS:
  1. Ticked on “Include Current Year End Closing”, display on the left top module.
    The Current Profit/Loss figure will go to Equity Retained Earning Account.
    Accumulated Profits & Loss will lump together for the Retained Earning from previous Financial Year & Current Profit/Loss for current financial year.
  2. Click REFRESH, display on the right bottom module.
  3. Select the REPORT to print

Check after Post - Print the General Ledger report


Alert
STEPS:
  1. Click on REPORT Activity
  2. Click on FINANCIAL Module
  3. Click on GENERAL LEDGER
  4. Select PERIOD, display on the left top module
  5. Tick Balance B/F
  6. Enter your Financial Period Date
  7. Click REFRESH, display on the right bottom module.
  8. Select the REPORT to print
Print As At period report
  1. Tick As At, display on the left top module
  2. Check Financial Period Date
  3. Click REFRESH, display on the right bottom module.
  4. Select the REPORT to print

Check after Post - Print the Trial Balance Report


Alert
STEPS:
  1. Click on REPORT Activity
  2. Click on FINANCIAL Module
  3. Click on TRIAL BALANCE
  4. Tick As At, display on the left top module
  5. Check your Financial Period Date
  6. Click REFRESH, display on the right bottom module.
  7. Select the REPORT to print

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