End of financial year processes are integral to maintaining an accurate Jim2 database.
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As stock control is in real time, it is important to perform an Accounts Only backup Jim2 on the final day of the financial year. This allows restoration to a training database in case a report is required for a completed stocktake at that date. |
It is recommended to complete the series of tasks outlined in this section when approaching the end of financial year.
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An end of financial year rollover is not reversible. Therefore, it is strongly recommended that all checks have been completed, and that the company's accountant has approved the financial year rollover. |
A comprehensive checklist can be found in the End of Financial Year Process.
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Note: After finishing a stocktake, the resulting stock adjustment must be finished as well. |
To close a financial year, Jim2 provides an easy-to-use Close Financial Year Wizard.
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Jim2Cloud customers will need to contact Happen Business to have the cloud instance stopped prior to closing the financial year. |
Further information
Accountants End of Year Adjustments
EOFY Process for NZ Current Year
Close Previous Financial Year Wizard
Use Jim2 When Appropriate Years Not Closed