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Seattle Police Golf Association Established 1935 www.seattlepolicegolf.com seattlepolicegolf×gmail.com A.C. Torrescano, President2017 END OF YEAR TOURNAMENT AND AWARDS BANQUET The 2017 Seattle Police

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How to fill out end of year entry

01

Step 1: Gather all necessary financial documents such as income statements, expense reports, and cash flow statements.

02

Step 2: Review all financial transactions made throughout the year and ensure they are accurately recorded.

03

Step 3: Summarize the financial data by organizing it into various categories such as revenue, expenses, assets, and liabilities.

04

Step 4: Calculate the net income or loss for the year by subtracting total expenses from total revenue.

05

Step 5: Prepare a balance sheet that shows the organization's financial position at the end of the year.

06

Step 6: Complete any required tax forms or regulatory filings related to the end of year financial reports.

07

Step 7: Review the completed end of year entry for accuracy and make any necessary adjustments.

08

Step 8: Store the end of year entry and financial reports in a safe and easily accessible location for future reference.

Who needs end of year entry?

01

Businesses of all sizes need to fill out end of year entries to accurately report their financial performance and comply with tax and regulatory requirements.

02

Individuals who operate as freelancers or self-employed professionals may also need to complete end of year entries to report their income and expenses for tax purposes.

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What is end of year entry?

End of year entry is a financial transaction that is recorded at the end of an accounting period to ensure all income and expenses are properly accounted for.

Who is required to file end of year entry?

All businesses that follow accrual accounting method are required to file end of year entry.

How to fill out end of year entry?

To fill out end of year entry, you need to gather all financial transactions for the year, including income, expenses, assets, and liabilities, and record them in the accounting system.

What is the purpose of end of year entry?

The purpose of end of year entry is to accurately reflect the financial position and performance of a business at the end of the accounting period.

What information must be reported on end of year entry?

End of year entry must include details of all income, expenses, assets, and liabilities for the entire accounting period.

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