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End of Year Checklist and Training Resources for New Zealand

Simona Riftin
Updated
This article explains the key end‑of‑year tasks for each Jobpac module used by New Zealand companies. It helps you confirm that month‑end and year‑end activities are complete so you can roll smoothly into the new financial year.

Business Forecasting (BFM)

You use BFM to review project financials and finalise the Profit & Loss before rolling over to the new year.
1. Complete the BFM end‑of‑period review.
2. Print the required BFM reports.
3. Post all BFM journals before rollover.
4. Review your Profit & Loss and make any final updates. You can continue to adjust projects and repost until the P&L is correct.
5. Run the BFM end‑of‑month. After this, no further P&L changes can be made.

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Training videos

 

Accounts Payable

Accounts Payable does not require a separate year‑end close process. Once your normal month‑end procedures are complete, the module can be rolled forward as usual.

1. Accounts Payable Trial Balance

  • Print the Aged Trial Balance report.
  • Review the reconciliation section at the bottom of the report.
  • Check for any out‑of‑balance amounts between Accounts Payable and the General Ledger.

2. If Out‑of‑Balance Amounts Are Found

Reconcile the AP Trial Balance to the following General Ledger accounts, paying particular attention to journals that should not be posted directly to these accounts:

  • Trade Creditors Control
  • Trade Creditors Retention Control
  • Subcontract Creditors Retention Control
  • Subcontract Creditors Control

Note: An out‑of‑balance condition does not prevent you from rolling the Accounts Payable module. You can proceed with the roll and correct discrepancies in the General Ledger afterward.

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Accounts Receivable

Accounts Receivable follows the standard month‑end workflow at year end. No additional year‑end‑specific processing is required.
 

1. Accounts Receivable Trial Balance

  • Print the Accounts Receivable Trial Balance report.
  • Review the reconciliation section at the bottom of the report.
  • Check for any out‑of‑balance amounts between Accounts Payable and the General Ledger2. If Out‑of‑Balance Amounts Are Found

Reconcile the AR Trial Balance to the following General Ledger accounts, paying particular attention to journals that should not be posted directly to these accounts:

  • Debtors (Head Contract) Retention Control
  • Debtors Control
  • Uncertified Claims
  • Unapplied Cash Control

Note: An out‑of‑balance condition does not prevent you from rolling the Accounts Payable module. You can proceed with the roll and correct discrepancies in the General Ledger afterward.

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Training videos

 

General Ledger

The General Ledger follows the standard month‑end process at year end. No special year‑end‑specific steps are required, but it is important to review key reports and ensure all balances are correct before closing the period.

1. General Ledger Trial Balance

Run and review the following reports:

  • Trial Balance Confirm all accounts balance and identify any unexpected or unusual entries.
  • Profit & Loss Statement Review year‑to‑date Revenue, Cost of sales and expense accounts to ensure correct coding and classification.
  • Balance Sheet Verify that asset, liability, and equity accounts are accurate and reconcile to supporting subledgers.

2. If Out‑of‑Balance Amounts Are Found

Please log a support ticket, with the details and our support team will resolve this for you. 

 

Final Step

Once all reports have been reviewed and any required adjustments posted, schedule end‑of‑month to close the General Ledger period.

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Training videos

 

Job Costing (Projects)

Job Costing does not require specific year‑end processing. Complete your usual month‑end steps and ensure project reporting is finalised.

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Stock (Store Control)

Store Control has no additional year‑end requirements. Use the standard month‑end process.

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Payroll (New Zealand)

New Zealand Payroll operates on a financial year from April to March. Complete reconciliation and rollover tasks before processing the new year.
 
The Rollover process must be triggered from the payroll menu. 
 
  1.  Payroll > Period End
 

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Training videos

  • End of Financial Year Payroll Module – Roll Over, Updates and Finalisation
  • End of Financial Year Payroll Module – Accumulated Pay and General Ledger Reconciliation
  • End of Financial Year Payroll Module – Leave Accruals and General Ledger Reconciliation

New Zealand tax tables and rates

 

Fixed Assets

Fixed Assets follows the normal month‑end process. Clear all exception reports before running end‑of‑month.
You may run:
  • Operating Lease Exception
  • Finance Lease Exception
  • Depreciation Exception
  • Billing Exception
  • Disposals
  • Additions
  • Check Journal File

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Completing these steps ensures each module is ready for the new financial year and your reporting remains clear and accurate.
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