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      <div class="WebWorks_Breadcrumbs" style="text-align: left;">End-of-period procedures</div>
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      <blockquote>
        <div class="hc_ChapAppTitle"><a name="1087117">End-of-period procedures</a></div>
        <div class="o_OverviewBlurb"><a name="1087118">It is important to ensure that your accounting records are accurate. Reconciling the accounts regularly will assure you and your accountant that </a>your books are complete, accurate and balanced.</div>
        <div class="or_OverviewRunIn"><a name="1114022">Month-end procedures</a></div>
        <div class="o_OverviewBlurb"><a name="1114023">You should reconcile your company file information with any source documents and resources available to you. For </a>example, each month your bank account can be reconciled with your bank statement, creditors balances can be checked against statements, and customers’ balances verified. Typical end-of-month procedures include reviewing your trial balance, reviewing your budgets and cash flow, paying payroll taxes [MYOB Accounting Plus only]and purging information that is no longer needed.</div>
        <div class="or_OverviewRunIn"><a name="1114024">Year-end procedures </a></div>
        <div class="o_OverviewBlurb"><a name="1114025">End-of-year procedures need to be carried out to prepare your company file for the coming year. These include any </a>adjustments you need to make to your company file so that it agrees with your accountant’s final records before you start a new year. If possible, your inventory should be counted, valued and, where necessary, adjusted in your company file. By closing the year in your company file, you are effectively bringing the company file up to date and removing information not required in the new year. </div>
        <div class="or_OverviewRunIn"><a name="1114027">End of payroll year</a></div>
        <div class="o_OverviewBlurb"><a name="1093075">[MYOB Accounting Plus only]</a> Closing a payroll year includes processing final paycheques, printing payroll reports and preparing payroll forms. You must close the payroll year in the last month of your payroll year or soon after. Otherwise, you will not be able to enter paycheques for the next payroll year.</div>
        <div class="href_ReferenceBlockHeading"><a name="1134327">In this section</a></div>
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                  <span style="color: Gray;">■</span>
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                <div class="bbi_BulletedIndented_inner"><span class="l_Link"><a href="endofperiod.21.2.htm#1093078" name="1134331">Month-end procedures</a></span></div>
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                  <span style="color: Gray;">■</span>
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                <div class="bbi_BulletedIndented_inner"><span class="l_Link"><a href="endofperiod.21.12.htm#1087763" name="1134335">Starting a new financial year</a></span></div>
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                  <span style="color: Gray;">■</span>
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                <div class="bbi_BulletedIndented_inner"><span class="l_Link"><a href="endofperiod.21.20.htm#1088087" name="1134339">Starting a new payroll year</a></span></div>
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