Year End Financial Task
From PCSAR
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* Perform an inventory of all assets and adjust accounts as appropriate {{status|won't|2020-02-22}} | * Perform an inventory of all assets and adjust accounts as appropriate {{status|won't|2020-02-22}} | ||
* Visually inspect each account in the online accounting system making sure they make overall sense. Review transactions for the last fiscal year. {{status|}} | * Visually inspect each account in the online accounting system making sure they make overall sense. Review transactions for the last fiscal year. {{status|}} | ||
| - | ** | + | ** issues: |
*** GST rebate receivable does not have any transactions listed | *** GST rebate receivable does not have any transactions listed | ||
* Run the [[FinancialStatementsTask]] for the end of the previous year. {{status|}} | * Run the [[FinancialStatementsTask]] for the end of the previous year. {{status|}} | ||
Revision as of 22:36, 22 February 2020
At the end of each financial year
Tasks
- Perform an inventory of all assets and adjust accounts as appropriate
(won't for 2020-02-22)
- Visually inspect each account in the online accounting system making sure they make overall sense. Review transactions for the last fiscal year.
- issues:
- GST rebate receivable does not have any transactions listed
- issues:
- 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.
- Adjust the deferred revenue.
- Run the FinancialStatementsTask for the end of the current year. Submit them as the year-end financial statements.
- Have the books and statements audited.
