How to run the Year End Rollover?

This video covers the full year end rollover process. The year end creates a single journal that carries balance sheet values forward into the new financial year and posts the year's profit or loss to your retained profit and loss account. The process is straightforward and - importantly - reversible if you need to make post-audit adjustments.

What this video covers

The sections below summarise each part of the year end rollover process so you can return to a specific step without rewatching the full recording.

• [00:00] - Introduction and what the year end process does
• [01:15] - Checking environment defaults (rollover attributes)
• [03:41] - Checking account defaults (retained profit account)
• [05:04] - Preparing financial years and opening the brought forward period
• [11:06] - Pre-year end checklist
• [13:47] - Running the year end rollover
• [18:40] - Reviewing and submitting the year end journal
• [20:13] - Q&A: running the year end more than once
• [22:00] - How the period end scheduler works
• [26:20] - Updating the current financial year default
• [31:32] - Making post-audit adjustments and rerunning the year end

You can find the the user guide referenced within the video here: Year end rollover | iplicit