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Bookkeeping For Dummies, 2nd Australian & New Zealand Edition by Lynley Averis, Veechi Curtis

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Chapter 16

Starting a New Financial Year

In This Chapter

arrow.png Finishing the old year in style

arrow.png Getting data to your accountant if you don’t work in the cloud

arrow.png Playing spot the difference

arrow.png Communing with the company accountant

arrow.png Starting a new year (if you have to) and archiving data

The end of one financial year and the beginning of another can be a big deal for bookkeepers. Not only do you have to get a whole year’s books in order, ready for the company accountant to do their stuff, but in some situations, you also need to make journal entries so you can match your accounts with those from the accountant.

In this chapter, I talk about what’s required to get the old year’s accounts in order, including important details such as whether you can record transactions in the new year before the old has been finished, and what you need to get ready at the end of each financial year. I also dwell on that most delicate of relationships — the one between a bookkeeper and an accountant — and provide ...

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