Hi, for the first time, I am managing our year end and self assessment.( gulp).
For our year end I have simply followed other help: Setup > Financial Year > Start a new financial year
I note there is a Journal Memo in Solar for each year end which shows depreciation (among other things) for Motor Vehicles, Plant ad Fixtures. Does anyone have any simple guidance I could use to calculate these figures?
Was the Journal Memo automatically generated or has it been manually added? I guess the latter as the title is Year End Adjustment.
Question: can anyone
Hi Gillian,
Sorry I cannot help you calculate the depreciation figure but there are standard methods which you can find on the internet. Yes, the year end procedure in Solar Accounts (menu Setup > Financial Year > Start a new financial year) will create a new journal entry called End of Year Adjustment. However, before you perform this procedure you will need to enter depreciation charges as described here:
https://www.solaraccounts.co.uk/help/how-to-record-depreciation-of-an-asset.php
Regards,
