The General Ledger end of financial year procedure must be performed on the last working day of the financial year, and again any time transactions are posted back into a previous financial year (for example after posting creditors invoices in the previous financial year, and after processing the June BAS etc). This procedure is usually performed by the accounts clerk.

Process:

1.Ensure your processing date is set to the last day of the financial year (eg June 30). Refer to Main Menu - Changing the Processing Date for more information.

2.Run the General Ledger Balance Rollover by navigating to Main Menu > General Ledger > End of Period/Year > General Ledger Balance Rollover. Ensure the correct year to rollover is selected and click Rollover Accounting Year.