The Finance Year-End Support Plan is a structured financial service where the OSM team assists in completing your school’s financial year-end process within the d6 system.
This process ensures that your General Ledger is correctly closed for the current financial year and accurately opened for the new financial year, in line with auditing and financial reporting requirements.
The Year-End process is accessed here:
Finances > General Ledger > Year End
The Finance Year-End process ensures that:
All income and expenditure accounts are correctly finalised.
Audit adjustments are correctly processed.
Net surplus or deficit is allocated to the correct equity accounts.
The system is properly rolled over into the new financial year.
Financial records remain accurate, compliant, and audit-ready.
When your school is on this plan, the OSM team will assist with and guide you through:
Completion of the five-step Year-End process in d6.
Ensuring all pre-year-end requirements are met.
Assisting with audit journal processing.
Confirming the correct allocation of surplus or deficit.
Ensuring a successful General Ledger rollover to the new financial year.
Supporting data integrity throughout the process.
Before the Year-End process can begin, the following must be completed:
All projects affecting profit or loss must be finalised.
All bank reconciliations must be completed up to the final day of the financial year.
All journals (including opening balance journals) must be posted.
Any closed bank accounts must be correctly reflected in the system.
The system follows a strict five-step process:
Step 0: Allow posting of financial transactions (preparation phase).
Step 1: Block posting of financial transactions (financial year is locked).
Step 2: Trial Balance submission (auditor submission confirmation).
Step 3: Allow audit journals (final adjustments and audit entries).
Step 4: Create the Year-End journal and allocate net surplus/deficit.
Step 5: Post the Year-End journal to the General Ledger (year officially closed).
Steps must be completed in order and cannot be skipped.
The system automatically calculates net surplus or deficit.
Income and expenditure accounts are cleared to zero at Year-End.
Balances are transferred to equity accounts such as Retained Income and Accumulated Funds.
Step 5 permanently closes the financial year in the system.
Audit journals are locked to the final day of the financial year.
Once Step 1 is activated, the financial year becomes restricted for accuracy and compliance.
Guidance and support on the Finance Year-End process
Assistance with audit journal preparation
Support with the financial rollover in d6
Ensuring correct General Ledger closure
Full external auditing services
Bank reconciliation execution
Financial statement preparation (AFS compilation)
Daily bookkeeping or transaction processing
To ensure accurate year-end processing, the OSM team will reach out via email to request the following documentation and confirmations:
The auditor’s final Trial Balance
Annual Financial Statements (AFS)
Adjusting journals (if applicable)
Confirmation that the financial year has been finalised
Please note: in many cases the Finance Year-End process is supported in collaboration with external auditing partners, so accurate documentation from the auditors is required before finalisation can proceed.
No. The system enforces a strict sequence to ensure financial integrity.
You must return to Step 0, make the corrections, and then proceed again through the steps.
Step 5 closes the financial year by posting the final journal, clearing income and expenditure accounts, and transferring balances to equity accounts.
No. Finalisation requires auditor confirmation documents such as the Trial Balance and AFS.
This plan ensures that your school’s financial year-end process is correctly executed, compliant, and aligned within the d6 system, with full support from OSM in collaboration with your school’s auditing requirements and external financial partners.
Last updated: June 2026 | Version 0.4