Year-end Process

Modified on Tue, 19 Dec, 2023 at 6:00 PM

Actionstep Accounting does not require a Year-end process. Your data sits in your system forever.  This means that all Action Accounting entries can run and calculate for the duration of the matter.

The Current Earnings will move to Retained Earnings as at the Financial Year Start date that is set in your system. This is an ongoing calculation so no rollover is required. 

We recommend that you follow the usual Month-end Process


NOTE: You can unlock the lockout date when your External Accountant requires changes.


It may be that your External Accountant does require changes to be made and we encourage you to work with them to ensure that the Actionstep system is a true reflection of your current Financial Position. It is likely that they will give you General Journal Entries to post, but if they do not, it means one of two things:

  1. Your Book-keeping is perfect (Congratulations!)
  2. They are making changes prior to filing your end-of-year results which they are not giving to you - this would mean your system is incorrect.


WARNING: Do NOT amend the Financial Year start date in your system. This should have been set as the start date of the current financial year you were in (or the year containing the first transaction brought over) when you created the system and should never be changed. 

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