Actionstep Accounting does not require a Year-end process. Your data sits in your system forever. This means that all Action Accounting entries can run and calculate for the duration of the matter.
The Current Earnings will move to Retained Earnings as at the Financial Year Start date that is set in your system. This is an ongoing calculation so no rollover is required.
We recommend that you follow the usual Month End Process.
You are able to unlock the lockout date when your external accountant requires changes.
It may be that your External Accountant does require changes to be made and we encourage you to work with them to ensure that the Actionstep system is a true reflection of your current Financial Position. It is likely that they will give you a General Journal to enter, if they do not it means one of two things:
- Your Book keeping is perfect (congratulations)
- They are making changes prior to filing your end of year results which they are not giving to you - this would mean your system is incorrect.
Do Not amend the Financial Year Start date in your system. This should have been set as the start date of the current financial year you were in (or the year containing the first transaction brought over) when you created your system and should never be changed.