How can I close a book-year?
I hope you can give me the answer.
Kind regards,
Jan
Netherlands.
Firstly make all bank reconciliations up to date.
And then make sure all invoices have been captured.
Split all invoices that will cover some period in the coming year appropriately, e.g. an insurance of 4 months starting October 2017 to Jan 2018 must be split appropriately using journal entry (assuming your accounting year is from Jan 1st to Dec 31st
Recognise all liabilities which are not by invoices eg, salaries accrued, warranties etc.
And asset as well, eg. Take statements from your investments and recognise all the interests gained or loses. You may recognise a capital gain on your investments if they are investment in equity securities.
Basically capture everything correctly with accrual accounting in mind.
I don’t think there is anything else.
Read this Guide: https://www.manager.io/guides/7470