Overview and Preparation

The End of Year (EOY) process in Stockyard performs two important functions:

• Provides access to a 13th Period (June EOY) for year-end journals (e.g., depreciation).
• Moves all income and expense totals to a Profit/Loss (proprietorship) account so the new financial year begins at zero.

After you run End of Period for June, the EOY option becomes available.

You do not need to run EOY immediately - you may continue processing sales and closing months as usual, then return to EOY when ready.

However, for accounting reports in the new year to be accurate, it is advisable to close the current year in the first month of the new year (July for most). The 13th period then allows for any additional journals to be added as per your accountant's instructions that do not include GST, client accounts, or income/expense activity.

You are welcome to call Support to assist or answer any questions you may have.

• If June is not yet closed: Take a backup before closing June.
• If June is already closed and you are about to run EOY: Take a backup now.

Taking a backup ensures you have a safe copy of your data in case anything goes wrong during the End of Year process. If an error occurs, the backup allows you to restore your system and avoid data loss or corruption.

How to back up:

1. On the server, go to: Main Menu > System > Backup.
2. Select a folder to save into (the default is usually C:\Belvoir\Backups).
3. Keep a safe copy of the backup (USB, cloud, or external drive).

If you’re unsure which PC is the server, call Outcross Systems Support on 1800 799 107 for assistance.

1. From the Main Menu, click Accounting.
2. On the top bar, click Actions.
3. Select End of Year from the dropdown.
   

Understanding the 3-Step Process

• EOY Period – defaults to the most recent year.
• It should show “(EOY) June, 20XX — Not Applied.”
• If you see “(EOY) June, 20XX — Applied” for the previous year, close June for the current year first; then the next year’s EOY will appear.
• Step 1 (Optional) — Access EOY Journals and Reports (13^th Period)
  
• This is Optional because it is only used to add Journals to the 13th Period. 
• Step 2 (Required) — Move Income and Expenses to the Profit/Loss Account
  
• Creates the EOY Journals for Tax time.
• Step 3 (Required) — APPLY (Locks the EOFY)
  

Step 1 — Access EOY Journals and Reports (13^th Period)

1. You can skip step 1 if you do not need to create any Journals. 
   
2. If you have Journals to add to the 13th Period, such as using only for balance‑sheet adjustments (e.g., depreciation). 
   
1. Do not include GST, client accounts, or income/expense activity.
   
2. You DO NOT need to perform Step 2 again if you've added Journals to the 13th Period.

• Click “Access EOY Journals and Reports” to enter the 13th period. 
  
• The Accounting caption changes to EOY Processes.
  
• You can now create the Journals via "Journals" in the 13th Period.
  
• To leave the EOY period, open End of Year window again and click EOY Journals OFF (Back To Normal Processing).
  
  

Step 2 — Move Income & Expenses to Profit/Loss (Required)

You may either reuse a single account (e.g., ‘Profit and Loss’) or, if a separate account is required for the new financial year, create one in the Ledger (e.g., Code: PL2425, Description: Profit and Loss 2024–25).

• Add your P/L account (usually found under Proprietorship)
  
• You need to add the account to appear in P/L Account by finding the Ledger account and left clicking the account to add.
  
  
• Once you have added the Profit and Loss ledger account
  
• click “Move Income and Expenses to the Profit / Loss Account” and confirm Yes.
  
  This creates a “(EOY) June, 20XX” journal batch that transfers all income/expense balances to P/L and zeros them for the new year.
  
  

Step 3 — APPLY (Lock/Close EOY)

• Click APPLY to lock the year. It does not perform Step 2 or change amounts.
  
  
  
• After applying, Step 1 & 2 are disabled and the Step 3 button changes to Un‑apply EOY.
  
• The EOY Period dropdown changes the name to “(EOY) June, 20XX Applied”
  
  

Can view Profit and Loss created Journals via Journals (set period to (EOY) June, 20XX)

Also, you can check an income/expense account in Ledger → Activity → All. The Total for “EOY P & L Transfer 20XX – 20XX” should be 0.00.

Please contact Support if you require a Journal to be added back to the previous financial year.

Reports and checks

You do not need to finish EOY to run the reports.

FAQs

1. Do I have to use Step 1?
   No. If you have no EOY journal adjustments, you can go straight to Step 2, then Step 3 to lock.
   
2. What belongs in Step‑1 journals?
   Balance‑sheet adjustments (e.g., depreciation). No GST, no client accounts, no income/expense journals. Your accountant should be providing you with this detail once they have looked at your accounts.
   
3. Can I undo after applying Step 3?
   Yes, use Un‑apply EOY to reopen if needed (e.g. to add 13^th Period Journals)
   
4. When does the EOY period appear in the drop‑down?
   After you’ve done End of Period for June for that year.