If closing out the year in your accounting system requires a detailed checklist, there is a better way.
The End of Year process in SBS Financials consists of three steps:
- Close the last month of the fiscal year
- Automatically generate a Start of Year entry
- Review and post the entry in the first period of the new fiscal year
Closing the year-end books doesn’t have to be a complex process. When companies stay on top of their monthly close process, year-end accounting is relatively hassle-free – even with multi-entity accounting! Even better is the quick turnaround it provides to auditors whose job is the next step in the year-end financials process.
