Closing at year end

Support
1

Is there a way of closing off a set of accounts at year end ? I assume this needs to be done before starting a new trading yeas.

2

Hi @richwoo

This topic may be of some help to you:
http://community.quickfile.co.uk/t/simplified-year-end-tool/8906/1

Please Note: This tool does not provide you with a finished set of financial accounts and we would recommend you seek professional advice from an accountant to facilitate this process.

3

This is not my problem. What I want to be able to do is start a new trading year. How is this done please?

4

The guide I linked to above will create a journal to close off your last full year ready for another. If this doesn’t help, then I don’t think I’ve understood your original query?

Are you able to elaborate on what you’re trying to achieve please, and hopefully I can point you in the correct direction?

5

Thanks, its just what I want.

6

But you are still free to add transactions for the next year before you have closed off the previous year, just your balance sheet will show P&L totals that include the previous year until you have closed it off.