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Post Info TOPIC: Year End
kjmcculloch


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Year End
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I've reached the year end with one of my clients, a limited company.  I have passed all the information to the accountant and am starting a new year this month.

I imagine that he will make adjustments, but I also imagine that he may not complete his work for some time.  Do I just continue from where I left off last year?  Will he pass me a list of the adjustments he made to reflect in the books?

I may be complicating this in my head, I'm a bit confused as this is the first limited company I've reached the year end with.

Kris


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Kris McCulloch 
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Amanda


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Hi Kris,

Just continue in the normal manner inputting the data, and when the accountant has done all the adjustments they will then e-mail them to you with a date that you need to put them on for, normally the day of year end say it was 30th Sept, then if you are say using SAGE you woould then run year end after the adjustments. Some like the journals to go on the first day of the new financial year. I guess every accountant have got their own ways of doing things.

HTH
A

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Amanda
kjmcculloch


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Cheers Amanda,

That's great. At least it stops me worrying. Thats why this forum is invaluable.

Kris

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Kris McCulloch 
Tel: 01563 370123

The views expressed in this post are my own personal (HRA protected) views, and are not representative of any organisation I have any involvement with.
semsley


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Hi Kim

Same as Amanda, I send a backup to the accountant and continue entering as normal, then (months later usually) get list of opening balances so I can do year end.  Usually I change the program date to the end of the financial year before doing the year end.  Then enter the opening balances on the 1st of the new year.

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kjmcculloch


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Thanks Sheila,

I really do need to have a look at my username, It does look very like Kim.

Kris

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Kris McCulloch 
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semsley


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Sorry Kris I'm sooooo tired - I'm off on holiday for all of next week and have been working mega hours all this week getting everyone not only up to date but in front. 5 lots of payroll, 1 vat return, set internet bank payments in advance sorted out sufficient petty cash, you name it I've done it.

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Jymlyn


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Agree with Semsley - usually hear from accountant when I am about to run the next year end! Any Semsley, I read all your wise words in the different posts here, so I think you should enjoy your holiday next week - so C H I L L !

Kind regards

Lynda

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Amanda


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Hi Kris,

Glad I could answer one of your questions as you've answered plenty of mine lately.

Cheers
Amanda

PS Sheila, have a good holiday!

-- Edited by Amanda on Thursday 21st of October 2010 08:56:06 PM

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Amanda
kjmcculloch


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That's ok Sheila. Its not the first time, it does look like kim.

Have a nice holiday.

Kris

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Kris McCulloch 
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The views expressed in this post are my own personal (HRA protected) views, and are not representative of any organisation I have any involvement with.
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