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Before moving on to the new year make sure you have carried out all the checks, verifications and closing entries as indicated on the following pages
- Year end closure of the Double-entry Accounting
- Year end closure of the Multi-currency accounting for exchange rate issues
All accounting information relating to the opening of the new financial year can be found on the page
In the following, we will limit ourselves to information on exchange rate issues in Multi-currency accounting.
Creation of a new accounting period
When switching to a new accounting year, the program automatically carries over the opening balances to the following year. More details are available on the page Create new year.
Also in the Multi-currency accounting, it is possible to decide to switch to the new year, even if the previous year has not been definitively closed (because entries have not yet been made, exchange differences have not yet been calculated, or the operating result has not been distributed).
It is important, however, that before closing the year, the exchange rate differences are calculated in the year that is about to close, from the menu Actions → Calculate exchange rate differences.
Then, in the new accounting period previously created, you can update the opening balances from the menu Actions → Update opening balances.
Differences in opening balances
In the event that there are differences in the opening balances in the new accounting period, we advise you to carry out all the checks and controls suggested on the Checks and verifications page.
If the differences are due to exchange rate differences not calculated in the previous accounting period, follow the instructions on the page Differences in the opening balances.
Print opening balances
To print the opening balances:
- To print the contents of the Table use the Print/Preview command, selecting the rows of the Balance sheet.
- It is also possible to use the Accounting Printouts and set the print only for the part of the Balance sheet and the opening column.