Steps coming soon....The Year End process will post a journal in Period 12 that clears out the balance of all income and expense accounts to the Fund account linked on each account. A special journal type is used (RET) so it will not affect Period 12 reports.
Please discuss performing this action with your Conference if you are unsure whether you should complete it.
Additional Notes:
- If manual year end journals were entered in T&O, they will be ignored in the ACAS Year End process. If any income and expense balances were missed by the manual journals, they will be done in the Year End process in the relevant year, so ensure the report produced by the Year End process is reviewed carefully.
- Report produced - currently, this report is only available at the time of running Year End. Please ensure it is printed or saved to PDF so it can be referred to at a later date.
- Some reports have a filter to include or exclude the year end RET journals. This filter only works for year ends done in ACAS, not where manual journals were done in T&O.