Before embarking on the Year-End process, it's crucial to ensure that your account is in the best possible shape. Here are some checks you can perform on Scribe:

 

Run the Annual Return

Even if the current year isn’t complete, this is the easiest way to confirm that the opening balances are correct. If you see a red error message or the prior year is blank, then the opening balances are missing or wrong. If you're a new user, check that the balances have been entered correctly. If you're an existing user, the previous year might not have been closed and copied over.

 

Check your Cost Code Types

The type allocated to each cost code determines which box on the Annual Return the associated code feeds into. Ensure that the relevant cost codes have the correct type set.

 

Check your VAT Position

Scribe will calculate your closing VAT position. This can be checked before Year End to ensure it's correct. You can go to VAT/VAT Summary and View Report to check the amounts shown.

 

Ensure Bank Reconciliations are correct & up to date

Go to Bank/Reconcile and reconcile any bank accounts that are not yet up to date. Once completed, go to Bank/Reconcile All Banks and run the report to the latest date the banks have been reconciled to.

 

Run the Detailed Cost Centre Report

This report allows you to check the transactions entered for any errors. All payment transactions will be listed and grouped by cost code.

 

Update the Asset Register

Any additions, disposals, or amendments to the Asset Register can be updated before Year End.

 

We hold regular training sessions on Getting Ready for Year End (between January and March) which can be signed up for here:

Scribe Academy Training Sessions

 

Or you can watch a previously recorded session here:

Scribe on Demand - Getting Ready for Year End

 

For more guidance and tips on preparing for the Year End please take a look at our blog:

Scribe Blog - Getting Ready for the AGAR