How to perform a multiple year end close

Published: 09/12/2016

How to perform a multiple year end close.

Answer:

This feature will not work in a SmartSync file. First make a backup without ticking the “include sync folder” for both the Prior Year and Current Year parent files. Then replace these files on the server and create new child copies for both the Current Year and Prior Year files.

NOTE if a Caseware Cloud instance is used, you will be required to replace the file in Caseware Cloud.

The multiple year-end close is used if you are working on 2-year ends simultaneously and would like to ensure the adjustments posted in your prior year file are also updated in your current year file. For example, any changes in the 2015 file will also be updated in the 2016 file.

Once you have created the current year's file (for example the 2016 file)
Click on Engagement | Year End Close

Then click on the Browse button
Select the existing current year's file

If you have imported budgets balances; custom balances or forecasts remember to select these tick boxes as well. Also remember to click Annotations to roll forward, else it might clear these in the new file