Year End Procedure

Year End Process flow

Easy PC Accounts offers a straightforward year-end procedure. Follow these simple tasks to ensure your financial year data is accurate:

1. Bank Reconciliation:
   • Perform bank reconciliations for all accounts up to 31 March.
   • Use the Consolidated Reconciliation feature under the Year End menu to reconcile all bank accounts.
   • You should publish this document on your website along with other audit information.
2. Annual Return:
   • Ensure all relevant transactions are entered, and the bank accounts agree with your accounting records.
   • Use the Annual Return menu under the Year End menu to generate figures for Section 2 of the AGAR.
   • This report will provide all the figures needed for the AGAR form. If this is the second or subsequent year of using Easy PC Accounts, it will also show variances between the current year’s figures and the previous year’s figures. These variances are necessary for external audits, as you need to explain any significant discrepancies.
3. Starting a New Year:
   • Use the Change Financial Year feature in the Administration menu to start a new financial year.
   • This allows you to enter transactions for the new year while keeping the previous year’s transactions unaffected.