Year End Adjustments - closing balances and opening balances
At the end of each financial year every accounting system must be adjusted to ensure that it agrees with the final accounts filed at Companies House.
Request the final Trial Balance report from your accountant that was used to prepare the year end accounts.
Download the Trial Balance Report in XLS format, available at Reports, Accounting Reports.
Use a spreadsheet to compare the trial balance figures from SimpleBooks with those from your accountant.
The differences in the balances for each heading when the 2 reports are compared should be recorded by a bookkeeping adjustment.
Accounting, ADD ADJUSTMENTS, Select the year - select the year the accounts are for.
Use the ADD ANOTHER LINE/DUPLICATE LINE buttons to include as many lines as needed.
The adjustment Debit and Credit Column must total to the same amount to allow it to Save.
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