Here are some simple steps with links to the help sections, that can be especially useful at the end of a financial of year:
- Post net income at the end of a financial year
Note: Unlike companies as in the example, associations can use the following accounts: 9999 Surplus / deficit for the year and 2030 Surplus / deficit for the financial year.
- Create a new financial year
- Select a default financial year, you land in directly at login
- Select a chart of accounts
- Choose accounting principle (FI only)
- Close a period
- Transfer your opening balances
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