End of Year adjustments

Question

My Accountant has asked me to enter End of Year Adjustments.&nbsp;She has listed Example below.&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;CREDIT&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;DEBITInvestments&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;$4200&nbsp;Office Equipment at Acc Dep'nc&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;$6514&nbsp;Can someone give me an example of how this is done and how it should look.Feeling clueless today.&nbsp;&nbsp;&nbsp;&nbsp;

tracey_h · Accepted Answer

Hi&nbsp;Louise72&nbsp;
&nbsp;
Thanks for your post. End of year adjustments are recorded as general journals in Accounts&gt;&gt;Record Journal Entry.&nbsp; Based on your example it would look something like this:&nbsp;
&nbsp;
&nbsp;

&nbsp;
&nbsp;
Your accountant will have given you a list of accounts and amounts, enter them all into the one journal transaction because they will balance back to zero
&nbsp;
This help article has more information you may find useful: End of year adjustments
&nbsp;
Please let me know if you need further help.
&nbsp;
If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

Forum Discussion

End of Year adjustments

Looking for something else?

Related content

End of Financial Year Employee

GST end of Financial Year Rollover

End of year Finalisation with STP

end of payroll year

End of Year Payroll 2022

Prior year adjustment.

STP does not agree with End of Year Payroll Activity.

End of year STP reporting and closing a payroll year end