In Pandle there is not a set year end routine as such. Pandle is flexible in this regard, meaning that users can have full visibility of previous and current financial years just by changing the date range on the Categories page, as follows:
These dates can be changed at any time and do not change your data in any way.
You can also update your financial year from the 'Business Info' tab in the Company Settings menu:
Recommended tasks at your year end
- Check your category balances are correct. Categories such as VAT owed to HMRC should match the amount you owed at that date.
- Drill down into each category to ensure that the transactions within them belong there.
- Check the amount you were owed from customers and to suppliers was correct at your year end.
- Check your bank balances in Pandle match the bank balances on your statements. Please read this related article for further information on this.
- If you're VAT registered, ensure your returns are up to date and locked.
- Enter your year end adjustments such as depreciation (your accountant will usually calculate your year end adjustments).
- Lock your transactions up to the end of your financial period. This means transactions cannot be added to the previous financial period and transactions up to that period end cannot be changed. This prevents previous work having to be revisited (which can be time consuming and costly). You can lock your transactions in the 'Company Settings' menu under the 'Business Info' tab as follows: