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End of year

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I have customer that I helped setup Express Accounts on to me for the last 2 days about "where is the option to do the End of Year".

 

I had to tell them that I can not find it as well. Is it me or have they move it or renamed it.

 

As I am typing this I am also thinking it is soon time for me to do my end of year as well. If this is missing it will be a very big bug for a lot of us.

 

I am using version 4.44 and also my customer is

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Is there any news about this issue with ending a fiscal year

 

Thanks for the support

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Hi I am facing the same problem and don't have an option in version 4.62 to close the year end. The importance is to clear the income and expense accounts for the new fiscal year and specially reflect the retained earning in the capital. Any help is appreciated.

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Hello

 

I have the version 4.72. I ask myself if I have to face the same problem about year-end closing.

 

<_< .?I mean is there a specific procedure in the menu to run the year ending closing or by filling in the date in the option "Fiscal year end:", it will be processed automatically

 

What 's happened when enabling Closed-to-date option ?

 

Thanks for your assistance. ;)

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In V4.79 I dont see a Company tab in Options, the fiscal year setting is under the 'general' tab in Options. In the General tab you are presented with Compant Details.

 

Does this help if you havent already found it.

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I have found the 'enable closed-to-date option in the options, general tab and it would appear to work so that you cannot post anything prior to the closed-to-date you have entered.

 

This does not however give an 'end of year' clear down - looks like you have to go through each of your accounts and enter a zeroing balance - is this the case ? have i missed something?

 

Cheers

Sandra

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I posed the same question as a pre-sales question and received the following response from NCH:

 

Express Accounts runs on a rolling year. That is to say, there is no function in which to end or close a financial year at its conclusion. Unlike some other accounting software products, Express Accounts does not work on current year earnings and retained earnings basis, but rather the retained earnings account is an ongoing account that records any money earned or lost during previous financial years in addition to current year earnings. This means that the retained earnings account in Express Accounts is a record of all the money to date that the company has earned.

 

Not the answer that I was hoping to receive, but I can create a journal entry to clear the sales and expense accounts and dump it to a retained earnings account. I really hope that this is corrected in the near future. For all of the nice features that Express Accounts has, this seems to be a real miss in my opinion.

 

Hope this helps.

 

Kevin

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I totally agree with Kevin. I'm not an accountant though. Lacking this feature would pose a real problem when generating the subsequent year's balance sheet IMO.

 

I have been using EA for almost 2 years and I think I'm gonna face this problem by end of this year.

 

Looking at other accounting software soon if the developer is not feeling that this feature is important.

 

My friend who is helping me with my accounts is urging me to change accounting software asap.

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