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.