MoneyWorks | Year end closing

Software: MoneyWorks accounting software

Based on the financial period set, MoneyWorks automatically transfer the net income, “Plus Current Year Operating Surplus (Deficit)”, from the current year to the Retained Earnings for the following year.

MoneyWorks Balance Sheet

To prevent users from accidentally recording current year transaction in the prior year (or period), you may consider to “lock” the period. From the Command menu, select the “Open/Close Period” function to lock the period. You can read more about the Period management on page 197 of the user guide.