Once you have clicked Finish on the final step of the Month End, a couple of processes are completed in the background which make changes to your database.

An end of period date will be set on completion of the month end process. This prevents transactions being created or modified in the period reported. This is important where you are closing off a period which is to be reported to the ATO through BAS submission.

Ideally always enter all transactions and information to a month before running month end, then close the month and make no further changes. It is preferable to avoid situations where there is potential for a client, or the Tax Office to query why transactions entered to a month after month end processes were completed were not reported on owner statements.
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To find out more about the End of Period click the button below.

You will also notice that your debtors have now been aged as well.
Current balances from last month will now be 30 day balances, 30 day balances will now be 60 day balances and so on.