Year End Financial Task

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Revision as of 13:58, 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.

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