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Year-end closing

Accounting  — Fri 25 Feb 2022

This article is about year-end closing in Daxto. Want to know more about year-end closings in general? If so, you can read the background article.

In Daxto, your digital Daxto assistant helps you with every year-end closing. More than that, your assistant creates the memorandum booking that constitutes the year-end closing for you. You can of course edit it afterwards. Your assistant will also ask you to distribute the year's result in that year-end closing.

Closing out the year in Daxto is not something you do on its own, although it can be done. Usually it is part of a larger step-by-step plan that you carry out once a year. That plan consists of:

  • Checking the basics of your accounting (your Daxto assistant will help you with this).
  • Preparing the year-end closing (your Daxto assistant does this automatically), including distributing your results (your Daxto assistant explains how).
  • Preparing the closing balance (your Daxto assistant does this automatically).
  • Preparing the financial statements (your Daxto assistant does this automatically).

As you can see, this is all done in one go with the help of your Daxto assistant. As a result, the year-end and subsequent steps leading up to the financial statement are often taken care of quickly.

Before closing a fiscal year, it's smart to ask your assistant again if your accounts seems in order, which is the basis of checking your accounts. Is not everything in order? Then it's advisable to address the points your assistant lists before you start the year-end closing.

Then go to the MenuReportsFinancial Statements. Follow the on-screen instructions to begin the year-end closing. Once you get to the end with the help of your assistant, you can immediately view and download the financial statements.