End Your Financial Year With Ease Using PCLaw

A comprehensive checklist of closing your 2020 year

Scroll down to watch step-by-step videos or download our End-Of-Year Resource Guide

Download Our End-Of-Year Resource Guide

Follow these steps to close your 2020 fiscal year:

  1. Be sure to make a backup of your PCLaw Data.

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  2. Run verify data integrity.

    NOTE: Do not run "Verify Data Integrity" if data is on a SQL Server.

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  3. Reconcile all bank accounts for each month through the end of the fiscal year.

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  4. Reconcile the balances that appear on the Client Ledger, Billing (Fees) Journal, and General Ledger to each other.

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  5. Review your 1099 Listing and produce 1099 forms for your vendors (US only).

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  6. Close all months except the last month of the fiscal year.

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  7. Enter G/L adjustments, from your accountant, on the last day of the fiscal year.

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  8. You can use the following features to analyze your budget figures and make changes if you need to adjust your budget for the next year:

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  9. Close the last month of the fiscal year.

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  10. Make a backup of PCLaw again.

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  11. Close the year.

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  12. Update Chart of Accounts if you need to add or change G/L Accounts.

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