End-of-period procedures > Starting a new financial year > Task 4: Enter year-end adjustments
Task 4: Enter year-end adjustments
Your accountant is likely to provide you with a number of adjustments, such as journal transactions. If they have been provided electronically, you can import these transactions (see Importing data). If the adjustments have been provided on paper, you can manually enter them in the Record Journal Entry window.
If you send information to your accountant using the Send to Accountant feature, you can import the adjusting journals your accountant sends you. Make sure your accountant has sent you the journal adjustment file as a text file with a .txt extension.
If your company file is set to 13 accounting periods in the financial year, assign your adjustments to the 13th period by entering an asterisk (*) before the date, for example, *31/3/2009.
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1
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Go to the Accounts command centre and click Record Journal Entry. The Record Journal Entry window appears.
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The general journal number and transaction date appear by default. You can change these if necessary.
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2
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[Optional] In the Memo field, type a note to describe the journal entry, for example, Van depreciation.
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Each row of information entered in the scrolling list is a line item. The line item details are identified in the journal adjustments provided by your accountant.
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a
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Type the account number (or name), or select it from the account list.
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b
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c
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[Optional] In the Job field, enter the job number for the line item.
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d
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[Optional] In the Memo field, enter a description of the line item.
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e
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If necessary, change the default GST code for the account.
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The journal entry cannot be recorded until the Out of Balance field is zero.
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4
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Click Record to record the journal entry.
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To import general journals from your accountant
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1
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Go to the File menu, choose AccountantLink, Receive from Accountant and then Lists of Accounts. A message appears, informing you that the levels within your existing accounts list may need to be amended.
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2
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3
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Locate and select the file containing the general journals sent by your accountant.
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4
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Click Open. The accounts are imported and a message appears, giving you the results of the import. If there are any errors, read the information in the MYOBPLOG file (AccountRight Premier and AccountRight Enterprise) which can be found in the folder where your company file is stored.
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