To create an end of year accounts book for your accountant follow the guide below. The accounts file will contain all the relevant accounting reports that clarify the assets and the liabilities.
The reports below should be printed and inserted in to file with a divider identifying which report it is. All reports should be dated for the whole financial year.
Prior to printing your accounts – go to Accounts – Nominal Ledger – select financial year then click on re build nominal – this will make sure all the accounts are synchronized.
1. Sales “Excluding Internals”
2. Purchases “Excluding Non P & L Nominal”
3. Unit Sales on Used Tax scheme
The above reports can be listed in Accounts – Quick reports – Monthly Reports (TAX) – enter dates then print all three reports.
4. Sales and Purchase Payments
5. Sales and Purchase Journals
The above reports are listed in Accounts – Quick reports
6. Stock Valuations as of Year End (Spares)
7. Stock Valuations of New and Used Units
8. Stock in Jobs (if applicable)
9. Stock in Sales Orders (if applicable)
You will need to go items – Quick reports – then select – Stock by Category (Excluding Units), this report is normally run after your year end audit or at the close of business on the last trading day of the financial year, you cannot get this report retrospectively. However you can run Stock report based on orders received and items sold in the Accounts section under the Quick report section, Parts Stock in Stores ( as of a date ), here you can also print Parts in Jobs and Parts in Sales Orders. Unit stock can be printed retrospectively, go to Items – Units – Q reports – Stock Costs – Enter dates selecting New and Used.
10. Account Reconciliations (Bank Accounts – Petty Cash – Director Loan Accounts – Credit Cards)
Once you have reconciled your accounts you can print these off by going to Accounts – Quick reports – Account reconciliation – select the account as necessary and pint.
11. Nominal Breakdown
Go to Accounts – Quick Reports – and select Purchase Nominal Breakdown
12. Debtors – Creditors and the Control Accounts
Go to Accounts – Quick Reports – and select Debtors as of a date, Creditors as of a date and the associated control accounts listed below.
13. Vat returns
In this section you should a copy of each VAT return you have submitted throughout the financial year. You can also print the VAT return in you go to Accounts – Quick Reports – VAT return – enter dates.
14. Opening and Closing Balances Summary Sheet with fist and last page copies of bank statements and credit card statements
Normally word document or spreadsheet page is prepared in such a way all the opening and all the closing balances of bank accounts, etc are listed. Included is the first and last page of the account statements received form the associated account.
15. Profit & Loss by Nominal – Balance Sheet by Nominal – Trial Balance By Nominal
Go to Accounts – Quick reports – and print as necessary.
Print the above reports and your accountant should have everything they need.