Annual financial statements
ITISeasy - Annual financial statements
The year-end closing (JA) in financial accounting, is created at the end of each fiscal year.IT IS easy business supports you in this process.
Annual financial statements
As an ERP system, IT IS easy business also supports you with your accounting and the annual financial statements. Many processes are automated and run in the background without the intervention of your employees. See here how IT IS easy business supports you with your financial statements.
Define fiscal year
Every company has its own fiscal year. Whether this coincides with the calendar year or is different is irrelevant. You configure the fiscal year as required for your company.
The same applies to the periods into which the bookings are to flow.
In order to have the postings in the correct periods, you can lock periods in IT IS easy business if they are no longer to be posted to, or close fiscal years as well.
Account overview and balance
All flows of goods and money must be posted and reflected in the chart of accounts. The chart of accounts is particularly easy and practical to use in IT IS easy business with the quick account search function.
The quick selection folds out according to your selection so that you can, for example, very quickly access the revenue accounts in the "44" area. Here you can also directly see the current balance of the respective accounts. Of course, you also have a number of reports at your disposal that show you the operating results in real time.
Inventurbewertung
Current inventories, or the value of goods in your warehouse, naturally also play an important role in the annual financial statements and must be determined on the reporting date.
IT IS easy business already supports you in this with the current inventory valuation or the general inventory management, which documents every movement of the flow of goods and thus keeps your inventory up to date. Various options are available in the system for the valuation. Also completely automated. The inventory can of course be carried out system-supported.
Reconciliation with tax advisor
With regard to all relevant closing or opening entries and accruals or carryforwards that need to be made, many companies work with a tax advisor or make their own entries in DATEV.
IT IS easy business relieves you of duplicate work and enables both the export of IT IS easy business to DATEV and the import of data from DATEV to IT IS easy business. For example, adjustments by the tax advisor or closing entries can be transferred.
Do you have questions about Odoo Accounting in ITISeasy.business?
Contact us, we will be happy to help.