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Close a year and record adjusting entries

On Adjustments & close, close a finished year so nothing changes it by accident, and record the adjusting entries your accountant asks for.

Steps

  1. Open Adjustments & close.
  2. For an adjusting entry, choose New adjusting entry, enter the lines and a memo, then Approve and post. The assistant can draft one for you to approve.
  3. When a year is finished, close it for that company. Changes dated in a closed year are refused until it is reopened, with a reason that stays on the record.

Good to know

  • Adjusting entries post only once approved.

Still stuck?

Ask the Assistant inside Columnwell. It answers from these pages and can look at your own books. You can also read the FAQ.