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Month-end and statements

For: Partners, senior accountants

Each month: bank reconciled, depreciation posted, accruals booked, statements reviewed, and the month locked so nothing changes behind the partner's back.

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Videos

Month-end: assets, accruals, lock 0:41

Depreciation, accruals, and a locked month nobody can change.

Transcript

Hi, I'm Zuzu. Let's close a client's month: depreciation, accruals, and then lock it.

In Closing and reports, open Fixed assets. Each asset has a depreciation schedule, and entries are posted by themselves as each date passes.

Accruals and provisions, like the audit fee for the quarter, are journal entries at the month end.

Then lock the month. After that, only the partner's role can post into it, so nothing changes behind your back.

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Trial balance, P&L, balance sheet 0:40

A client's statements for any period, in a few clicks.

Transcript

Hi, I'm Zuzu. Let's pull a client's statements for the quarter.

In Closing and reports, open the Trial Balance. Choose the client company and the dates: opening, movement and closing balance for every account.

Profit and Loss shows income and expenses, month by month, with the net profit.

The Balance Sheet shows assets and liabilities on any date. Every report can be exported to Excel or PDF, and printed.

That's it! Need a hand? Visit zenoziva.com

Open on its own page

Step by step

2Fixed assets#

An Asset records the purchase, the date it was put to use and the depreciation method; it comes from the purchase invoice.

3Depreciation schedule#

The schedule shows each month's depreciation; entries are posted automatically as each date passes.

4Accruals and provisions#

A journal entry at the month end, here the audit fee for the quarter.

5Lock the month#

Accounting Period: dates and the documents to close. After that only the role named under Exempted Role (the partner) can post into it.

6Trial Balance#

Opening, period and closing balances for every account, for any company and dates.

7Profit and Loss#

Income and expenses month by month, with the net profit.

8Balance Sheet#

Assets and liabilities as at any date, with the provisional profit.

9Year-end#

A Period Closing Voucher moves the year's profit to reserves. Every document keeps its own history of changes, with who made each and when.