▶️ Close Accounts (Rec & Pay)

Closing Accounts within Parish and Town Councils

Closing the accounts is a process that Parish and Town Councils should undertake once the accounts have been completed. This process locks down the accounts, making them uneditable to preserve the integrity of the approved financial records. This step also prepares the council for the next fiscal year by copying the end-of-year data to the new year's accounts.

Closing Accounts within Scribe Accounts

In Scribe Accounts, the 'Close Accounts' function facilitates the closing process, providing an easy-to-follow interface. This feature not only locks the financial year but also allows the copying of year-end data to the next financial year, thus ensuring a smooth transition into the new year.  It is recommended that the year is closed once the Year End accounts have been produced therefore reducing the chance of accidental amendment.  It is not necessary for the accounts to be signed off by the external auditor before this takes place as the year can be reopened if any corrections are required. 

Where is the Close Accounts Function within Scribe Accounts?

To access the Close Accounts function, log into your Scribe Accounts and navigate to Year End (Rec & Pay) → Close Accounts.  Alternatively click here.

 

How To Close Accounts Within Scribe Accounts

Log into your Scribe Accounts and navigate to menu Year End (Rec & Pay) → Close Accounts. You will be presented with the following screen:

Tick the 'Close Accounts' checkbox. This action will lock down the financial year, preventing further amendments. Data can still be viewed and reports can still be run and this action can be undone if necessary.  To copy the year-end data to the next financial year, tick the 'Copy annual returns data' checkbox. Click on 'Confirm' to finalise your actions.

💡 You must ensure the new financial year is set up to allow you to close and copy over the data.  See ▶ How do I start the new Financial Year?

Closing the Accounts and Copying the Data Separately or Repeating the Copy

It is worth noting that while you can copy the data to the following year after you have closed the accounts, you cannot perform the copy operation until the accounts are closed. If you repeat the copy process, it will reproduce the data, reflecting any changes made in the financial year you are copying. It is recommended to close and copy everything simultaneously to maintain consistency.

Closing the accounts does not restrict you from viewing uncashed transactions from the previous year when performing the bank reconciliation in the current year. Nor will it stop you from copying other details such as descriptions from the previous year.