Auto-Close GL

ZotaBooks uses a corporate scale multi-dimensional General Ledger, all accounting postings must adhere to the basic accounting requirements of:

  • postings balance (total debits = debit credits)
  • postings balance by currency
  • postings balance by legal entity

Each time postings are made into a period in the General Ledger, the following occurs in real-time:

  • the closing balance for the period is automatically recalculated in real-time
  • all future periods opening and closing balances are updated
  • the year end close is automatically updated for all future periods
  • corporation tax is automatically recalculated
  • VAT is automatically updated

ZotaBooks has eliminated the traditional year end close procedure, the accounting updates are made  automatically so you can focus on your business.

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