End of year journals service
This service includes the end of year closure in line with the requirements of the Education Funding Agency (EFA) which includes the following:
- All essential month end procedures
- Performing of a preliminary close
- Any necessary end of year adjustments such as accruals, prepayments, receipts in advance etc (in conjunction with the academy finance team)
- Rollover carried forward in financial return reconciled to the academy accounting system
- Posting of the correct Fixed Asset and Pension Liability balances.
Note: Academies may require additional processes and this can be undertaken in consultation with your nominated accountants to feed into your Annual audit.