In Farmplan Business Cloud there is no set year end routine as such.
Farmplan Business Cloud is very flexible; meaning that users can have full visibility of previous and current financial years just by changing the date range on the Categories page, as follows:
These dates can be changed at any time and do not change your data in any way. Similarly any of the reports can be calculated over any specified date range.
You can also update your default financial year from the 'Business Info' tab in the Company Settings menu, for example if your year start changes:
Recommended tasks at your year end
Check your category balances are correct. Categories such as VAT owed to HMRC should match the amount you owed at that date.
Drill down into each category to ensure that the transactions within them belong there. If you spot any incorrect coding then edit the transaction to correct category
Check the amount you were owed from customers and to suppliers was correct at your year end and make sure that you know the details of all outstanding invoices
Check your bank balances in Farmplan Business Cloud match the bank balances on your statements. Please read this related article for further information on this
If you're VAT registered, ensure your returns are up to date and locked
Make sure that you have added your Accountant as a user so that they can access your data
If, for some reason, your accountant cannot access your data they are going to need a full range of reports including the Trial Balance covering the correct date range plus supporting reports such as the detailed General Ledger, details of all outstanding supplier and customer invoices. We recommend that you talk to your accountant and find out what details they require
Your accountant will usually calculate your year end adjustments or journals for you. If they have access to your business they may enter them for you. If you need to enter your year end adjustments, such as depreciation, yourself then use the Adjustments option.
Lock your transactions up to the end of your financial period. This means transactions cannot be added to the previous financial period and transactions up to that period end cannot be changed. This prevents previous work being altered by mistake once the figures have been finalised.
You can lock your transactions in the 'Company Settings' menu under the 'Business Info' tab as follows: