Year End Financial Task
From PCSAR
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==Tasks:== | ==Tasks:== | ||
| - | * Perform an inventory of all assets and adjust accounts as | + | * Perform an inventory of all assets and adjust accounts as appropriate |
| - | appropriate* Visually inspect each account in Gnu Cash making sure they make | + | * Visually inspect each account in Gnu Cash making sure they make overall sense. |
| - | overall sense.* Run the [[FinancialStatementsTask]] for the end of the | + | * Run the [[FinancialStatementsTask]] for the end of the previous year. |
| - | previous year.* Make sure that the financial statements match the year end | + | * Make sure that the financial statements match the year end financial statements that were submitted the previous year. |
| - | financial statements that were submitted the previous year. | + | * If they don't you may have transactions that were booked for the wrong year or you may have transactions that were entered for the previous years that were entered after the last year's financial statements were prepared. If the latter, enter transactions on the year boundary to adjust the books. |
| - | * If they don't you may have transactions that were booked for | + | * Add the depreciation for the current year. |
| - | the wrong year or you may have transactions that were entered for | + | * Run the [[FinancialStatementsTask]] for the end of the current year. Submit them as the year-end financial |
| - | the previous years that were entered after the last year's | + | statements. |
| - | financial statements were prepared. If the latter, enter | + | * Have the books and statements audited. |
| - | transactions on the year boundary to adjust the books.* Add the depreciation for the current year.* Run the [[FinancialStatementsTask]] for the end of the | + | |
| - | current year. Submit them as the year-end financial | + | |
| - | statements.* Have the books and statements audited. | + | |
Revision as of 14:01, 17 November 2008
At the end of each financial year
Tasks:
- Perform an inventory of all assets and adjust accounts as appropriate
- Visually inspect each account in Gnu Cash making sure they make overall sense.
- Run the FinancialStatementsTask for the end of the previous year.
- Make sure that the financial statements match the year end financial statements that were submitted the previous year.
- If they don't you may have transactions that were booked for the wrong year or you may have transactions that were entered for the previous years that were entered after the last year's financial statements were prepared. If the latter, enter transactions on the year boundary to adjust the books.
- Add the depreciation for the current year.
- Run the FinancialStatementsTask for the end of the current year. Submit them as the year-end financial
statements.
- Have the books and statements audited.
