This article shows how to perform period end routines covering Month and Year End within Insight
Month End
- Select 'Accounts' and 'Month' from within the period end routines
Run Month End
- When you click on 'Month', it will bring up the month end routine
The system will show what the next period on Insight will be. In the below example, the next month will be Apr 2023 this is the 7th month of the financial year.
- Click 'Run Month End'
- Once it is completed, a box with appear confirming the month end has been completed
Year End Routines
- Select 'Accounts' and 'Year' from within the period end routines
When running a Year End within Insight you need to ensure you are in period 13:
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Go to System > Settings > Period end routines.
- Find how to here: Adding a New Financial Year & Unlocking a Period.
Before running year end, you should check that your Trial Balance is in balance on the last day of the financial year and that all adjustments have been posted.
**Once the Year end has been completed you cannot make any further postings to that year**
Step 2: Next Year Details
- The description box will show the following year; in the example, this is 2023-2024
- The Start Date will show the starting month for the new year
- You can click on the arrow to see details of all the periods in the new year
Carry Forward Nominal
- Once you are happy with next year's details, click on Carry Forward Nominal
- Select the range
- Capital Accounts is the standard nominal range that is used.
- All branches set up will appear and need a bank selected against each of them
**No postings will be made against the bank**
Run
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Click on the Run tab
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You can tick the Print Nominal Listing Report for every ledger; this will run a report for all the nominal ledgers with every entry posted in the financial year that you are running year end for.
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Click the Run button. This will complete the Year End Routine for you