Accounts Clear Down (Year End)

  1. You should always take a backup prior to performing either of these operations.
  2. Ideally, all users should be logged out of the system.
  3. Once an Account Clear Down has been performed it cannot be undone.
  4. These procedures require you to have either Admin or HQ permission.

Please Read this page before proceeding

The Accounts Clear Down option will clear down your accounts for the accounting year specified.

  • The user can select a date range enabling them to close down the accounts beyond their current accounting year.
  • The close down routine does not delete transactions from your accounts; they are simply closed off so that they are not immediately visible.
  • Balance sheet accounts are carried forward.
  • Retained Earnings are displayed in the Balance Sheet - Financed By section.
  • Profit & Loss nominal accounts are cleared down.
  • During the Close Down process Khaos Control creates 'brought forward' postings for Balance sheet nominals however, these will only be generated if new postings have occurred in the period being closed. For example in the case of an infrequently used account, like 'opening balances', rather than seeing an entry for each year being closed down, only a single posting will be present for the period when the data was originally posted.

Account Clear Down Prerequisites and things to Note

  1. Reconcile all bank items within the period you would like to clear down.
  2. It is prudent to have closed down all periods that you would like to clear down as this would flag up any un-reconciled transactions, see How To: Close Down Accounts.
  3. Always perform a backup before proceeding!
  4. You may also wish to run CopyLive2Test on your server immediately before performing the clear down (Optional).
  5. The system will warn the user if there are any un-reconciled transactions within the user defined clear down period.
  6. The system will also warn the user if the clear down period is greater than a year.
  7. Once the Accounts Clear Down has been performed then there is NO turning back.
  8. If you have cleared down before, the date prompts will snap to the next period which needs closing, rather than always 'last year'.

See Also

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