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Closing Out GL Accounts at Year End

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Top 200 Contributor
Posts 7
Micah Salb Posted: Mon, Mar 5 2007 10:48 PM

My accountant has called me to complain that the GL report that I sent him for last year's activity shows most accounts with a balance from last year.  Apparently, the accounts aren't closing out each year. 

Is there something that I am supposed to do to close out the account at the end of the year?


-Micah Salb Lippman, Semsker & Salb, LLC Bethesda, MD (301) 656-6905 TM/BM8+
Top 50 Contributor
Posts 147
Hello Micah,

There is no "official" closing of a month or a year inside Billing Matters Plus Accounting as all of the reports are based on Transaction dates.  Although you can follow a procedure to manually close out your books, if when you run your reports you set your filter to either "Current Year" or "Last Year" then only relevant totals will appear.

Hope this helps!

Kelly Jones
BTF Services
   Chandler, AZ
   480-422-4315 x1
Time Matters Certified Independent Consultant
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