Trust Accountant

1. Ensure all postings have been completed and updated (including on call and term deposit interest through 31/03/yyyy).
   
2. Complete a back-up or make sure that you have a current back-up.
   
3. Run all month-end reports as per usual.
   
   Note: You may wish to run some extra reports such as Work In Progress, Write Up/Off Reports, Ledger Transaction Report, Aged Trial Balance Report, Stale Balances Report etc.
   
4. Run the month-end update.
   
   Note: In Versions 4.0 and 4.1 the year-end is automatically completed when the month end is run.
   
5. Printing of the income letters in versions 4.0 and 4.1
   
   Note: If your firm converted to LAWbase from another trust accounting system within the past financial year, you can only run the LAWbase Income Deduction Certificates from the date of commencing on the LAWbase system. You need to produce the letters for the other part of the financial year from your previous system.
   
   In version 4.0 the income letter is available under the Management Reports icon under the RWT Reports selection. Use the report titled RWT Deduction Certificate. In version 4.1 the income letter is available under the Management Reports icon under the RWT and Taxation Reports selection. Use the report titled RWT Deduction Certificate.

Office Accountant (General Ledger) suggested end-of-year procedures

1. Ensure that all data for the year has been entered into the General Ledger.
2. Ensure that the accounts balance.
3. Check that all Balance Sheet items reconcile.
4. Check that the Trial Balance balances (both the debit and credit columns should total to the same amount).
5. Check that the Balance Sheet balances.
6. Allocate Partners Profit Share (if applicable).
7. Print final reports.
   
   When you are satisfied that all the data and balances for the period/year are correct, print the final reports from the Reports menu or from the Financial Information icon.
   
   Final Reports printed should include Trial Balance, Profit & Loss, Equity and Balance Sheet.
8. End-of-financial-year close-off and creation of new financial year.
   
   Once the year has been completely finalised you can close off the entire year to prevent alterations being made to the data. This should not be completed until your GST return has been finalised.
   
   Note: This facility is optional, and with the correct user access a year can be reopened.

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Trust Accountant

1. Ensure all postings have been completed and updated (including on call and term deposit interest through 31/03/yyyy).
2. Complete a back-up or make sure that you have a current back-up.
3. Run all month-end reports as per usual.
   Note: You may wish to run some extra reports such as Work In Progress, Write Up/Off Reports, Trust Transaction Listing, etc.
4. Run the month-end update.
   Note: After the month-end has been completed, run the year-end update for the trust account:
   - Trust menu
   - Financial
   - Year-end update
5. Printing of the IR15 PAYE forms or the income letters
   Print IR15 PAYE forms:
   - Trust menu
   - Financial
   - IR15 year forms
   - IR67 forms (for non-resident clients)

OR Print income letter:
- Trust menu
- Financial
- Income letters

DOS Creditors

Creditors year-end needs to be run before the General Ledger year-end is run:

• Maintenance
• Year-end update

DOS General Ledger

If the General Ledger is integrated with the trust, remember to do a batch update before running the year end:

• Apportion Profit
• Maintenance
• Year-end update

The General Ledger for the year ended 31 March can still be accessed through Last Year's Ledger menu option in the GL.

Note: General Ledger year-end needs to be run before the first trust batch update for April.