Once a year, a company has to close its annual accounts and the financial year in AbaNinja.
In order to successfully close the financial year in AbaNinja, a few things must be taken into account. In this article you will learn the steps you need to take.
Requirements
Generally, the financial year cannot be closed before February 1st of the following year. In addition, there should be no more bookings on transfer accounts 1090 and 1099. If there are still bookings, these bookings must be moved to the account statement.
To do this, click on the three dots (°°°) next to the respective entries, select "Move entry" and select the correct account.
There should also be no open payments under Finances > Payments.
VAT - settlement
Furthermore, the VAT settlement for the respective financial year must also be closed in AbaNinja. Be sure that all four VAT quarters have been closed under Accounting > VAT > VAT settlement or carry out the closure.
More information regarding the VAT settlement:
- How do I create a VAT settlement?
- How are the fields in the VAT settlement - Effective calculated?
- Why don't I see the VAT section?
Balance sheet and Income statement
Under Accounting > Report you will find the balance sheet and income statement.
The amount that will be booked as profit or loss is found in the balance sheet as Unbooked result and in the income statement at the top as the Income statement result.
These two amounts must be equal. If this is not the case, you must find the reason in your accounting and correct it accordingly.
Close financial year
The financial year can be closed under Settings > Accounting > Financial year. To do this, select the relevant financial year, then the action "Close financial year" by clicking on the three dots (°°°).
Pre-entry balance
For the active and passive accounts, the final balance from the previous year is automatically carried forward into the new financial year. You can check these totals for the financial year under "Pre-entry balance".
It is important that there is no difference shown in the pre-entry balance.
If a difference is detected, the amounts must be manually adjusted/corrected so that active and passive totals (assets and liabilities) correspond.
In the case of passive totals/liabilities, the amounts may not be recorded with a minus (sign), as this would otherwise distort the total.
Important:
In the passives/liabilities, the profit/loss that was entered at the closing of the last financial year is visible in account 2979 Annual profit or loss. To be able to continue correctly in the following year, the identical amount must be entered manually in account 2970 Profit or loss carried forward.
As soon as the pre-entry balance entry no longer shows a difference and the profit or loss carried forward has been correctly entered (manually), the pre-entry balance entry can be saved and work can continue as usual in the new financial year.
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