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Year End procedure in Mamut Business Software
|article ID: 2022407
||last updated: Tuesday, December 05, 2006
Year end procedures in Mamut Business Software are shown when running the Year End process. They consist of various steps, which are explained in more detail below.
To close your financial year, you must first close all open periods within the accounting year.
To close periods
Click on View - Accounting - Period end.
Select the period you are closing and press Complete.
Once all periods are closed, you can close the accounting/financial year.
Closing the accounting/financial year
Click on View - Accounting - Year End.
Click Next and then Next again. The system will analyse your accounts and possibly give you a list of things you have to perform before the year can be closed.
Print out reports 'Invoice Journal (Day Book)' and 'Day book (Automatic Update)'. These can be found by going to File - Print - Accounting.
Allocate any profit/loss. To do this please see the FAQ link at the base of this article
Click on View - Accounting - Year End once these steps have been performed. Click Next and Next again.
Click Yes when asked if you would like the Closing Balances to be brought forward to the next accounting year.
Please refer to the articles below for more information on this process.
Query words: Year end, year, end, Close of year, period end, period,
References:Additional information on profit/loss allocation at Year End
Why must profit/loss be allocated at Year End?