How To Run Financial Year End in Advanced Exchequer

When you come to the end of your financial year, you run the year end routine in Advanced Exchequer Accounts in order to close your current financial year and to move into your new financial year.

Our short guide below goes through the individual steps to take in order to run and complete the financial year end in the system.

How To Run Year End >

The Year End On Exchequer Is Almost As Simple As Period End

When you change the financial period to the first one of the new year it knows which accounts have to be cleared and which carry forward from the General Ledger Coding Structure and the Profit & Loss is Carried Forward.

All Transaction details are still there and can be drilled down to in history.

Press F6 (or double click the financial period at the bottom left corner of your Exchequer screen) to change the period number to the next period so transactions entered will go into the correct period:
set financial period in exchequer
Note: Setting a period Globally will set the period for all users in Exchequer, so this is what you’d select when you are happy to move into the new Financial Year. Changing the period locally changes it for your user, for this session only. This is useful if you ever wish to view accounts as at a certain date.
As Exchequer is open period accounting, you can still enter transactions for the previous period if required. Once you have finished adding transactions for that financial year (and raised any required Nominal Journals), you can then run your Financial Year End reports.

Once you have confirmed your End of Year figures it is possible to prevent previous transactions from being daybook posted if you wish.

  1. Go to Utilities
  2. Select System Setup
  3. Click on General Settings
  4. Amend the Last Audit Date
  5. Click OK

exchequer system setup
This will allow transactions to be added, but those transactions prior to that date will not be daybook posted – giving you chance to check and amend the dates as required.

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