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What should I consider at the end of the financial year?

We recommend the creation of a new accrual ledger account each financial year. This practice separates accruals by year.

This article relates to a best practice for fixating estimates while invoicing a shipment. See method 3 described on How can estimated costs be transferred to the accounting system?

In Scope, you can create a new general ledger account each year for cost estimates (accruals). This helps you maintain oversight and ensures that old accruals are fully cleared. New accruals are posted to and cleared from the new general ledger account, while old accruals are processed on the original accrual account. Ultimately, the original account should balance to 0.00.

We recommend you to let us know the new accrual ledger (for each legal entity) for the new financial year by creating a ticket via F12. 

Please also keep the following steps in mind:

  1. Open the new fiscal year in your accounting software and generate the periods.
  2. Create the new general ledger account in your accounting system.
  3. Close previous periods/fiscal years in Scope on time to prevent further postings in them.

Finally, regularly check that the reconciliation between Scope and your accounting system is accurate. You can do this with the help of this guide:
How to ascertain completeness of the accounting interface batches.

Further reading: Which financial checks can I do in Scope?