Attaché Accounts End-of-Year Processing 2014/15. Notes accompanying Attaché EOY Training Accounts

Transcription

1 Attaché Accounts End-of-Year Processing 2014/15 Notes accompanying Attaché EOY Training Accounts May 2015

2 Publication Number Publication Date Product Version A May 2015 Attaché Accounts Attaché Software Australia Pty Ltd ACN ABN Level 5, 118 Talavera Road, Macquarie Park NSW 2113 Australia PO Box 1824 Macquarie Centre, North Ryde 2113 Australia Tel Fax Attaché Software New Zealand Pty Ltd 48 Greys Ave, Auckland New Zealand Tel Fax info@attachesoftware.com Website: Attaché Software Australia Pty Limited End-of-Year Processing 2014/15 Attaché Accounts 2

3 Contents About this Publication... 4 Getting Help, Support and Resources... 5 Backups with Attaché Archive... 6 Accounting End-of-Year Procedures... 7 Block Access to Accounts whilst Processing End of Year... 8 Creating a Copy of Your Accounts Data... 9 Method 1 - Using Archive and Restore... 9 Method 2 Using Copy Data Files EOY Processing Accounts End-of-Year Checklist Customers End-of-Year Stocktake End-of-Year Checklist Products End-of-Year Checklist Suppliers General Ledger Chart Is it Ready to Roll? End-of-Year Checklist General Ledger Adjustments to General Ledger 2014/ Disabling Editing in Previous-Year Company Preventing Access to Previous-Year Company Appendix Date-Based Posting to Handle Late-Arriving Invoices Housekeeping Check Lists End-of-Year Processing 2014/15 Attaché Accounts 3

4 About this Publication These notes accompany Attaché Software s EOY 2014/15 Training for Accounts. They outline the generic procedures for processing end of year (EOY) and for preparing your Attaché accounting system to begin record-keeping for the 2015/2016 Australian financial year. Prior to commencing end-of-year processing, it is essential that you understand the processes which take place. Please following the EOY guidelines set out in this manual for a smooth EOY. Carefully read all the instructions before commencing. If you are unfamiliar with any of the procedures, talk to your Attaché consultant or refer to the resources described in Getting Help, Support and Resources on page 5. End-of-Year Processing 2014/15 Attaché Accounts 4

5 Getting Help, Support and Resources Attaché Consultants When it comes to Attaché products, expert help is always just a phone call away. Attaché consultants offer a broad range of services including software installation, training and advice, as well as end-of-year processing. Your Attaché consultant can tailor a support agreement to suit your particular needs. If you don t have an agreement with an Attaché consultant, contact Attaché and we ll put you in touch with a suitable consultant. Application Help Attaché Software products include extensive Help within the software, including overviews of tasks and detailed descriptions of fields. Task Help with a task screen open, press Shift+F1 on your keyboard or click Task Help on the Help menu to access an overview of the selected item. Field Help with the cursor positioned in a field, press F1 on your keyboard or click Help on the Help menu to access detailed information about the field. My Attaché online resources The Attaché Members website is the main source for Attaché support information and user resources. As well as software upgrades, the website has the latest news, guides and support information. Plus you can find out about training courses, special offers and new Attaché products and services. Attaché Members website: Attaché publications As a licensed Attaché user you have free and unlimited access to a library of guides on the Attaché Members website. You can easily download and print documents or read them on-screen. Helpline Attaché Software provides telephone support for users who require immediate assistance and/or those who have not yet established a relationship with an Attaché consultant. Calls are charged at a flat rate of $38.50 (including GST) for one issue. The Helpline is available from 8am to 6pm (EST), Monday to Friday. Helpline Australia: Note The Attaché Helpline does not provide support for products other than Attaché Software products or for computer networking or hardware issues. End-of-Year Processing 2014/15 Attaché Accounts 5

6 Backups with Attaché Archive During end-of-year processing you are instructed to take backups of your data at various stages. This guide presumes you use Attaché Archive to create backups, and restore data. Attaché Archive is licensed and installed separately from your Attaché system. If you don t already have Attaché Archive, talk to your Attaché consultant or contact Attaché Software. (To check, choose File Archive Current Company. If you do not have Attaché Archive, a message will be displayed advising you that Archive is not installed.) Creating and managing archive files Each time you run Attaché Archive (File Archive Current Company), it creates a single file containing a compressed copy of the contents of your company data directory excluding the Documents folder and, if you have it, the KFI Data folder. If you use PowerLink, those data files are also copied. The backup files are stored under the Attaché program folder, in a folder called ARCHIVE, which Archive creates. Backups are stored in separate folders under the Archive folder for each company. For easy management, the archive file is named with the date and time it was created, and the name of the company being archived. For example, the picture below shows a single archive file with the date/time of , which is 30th of June 2015, at 11.26am. During end-of-year processing, this guide prompts you to record the date and time of the backup. Backups can be easily restored if necessary. To avoid users inappropriately restoring data, you can control which users have access to the restore function by using menu access rights. Managing archives is no different to managing any other important files on your system. You can easily access them using Windows Explorer to copy to a CD or other device, or delete when no longer required. Warning Storing backups To prevent the loss of your important data, make sure you store your backup files securely. Attaché Software recommends that after backing up your data with Attaché Archive, you copy the file to removable media such as CD or tape and store it securely in separate premises. End-of-Year Processing 2014/15 Attaché Accounts 6

7 Accounting End-of-Year Procedures It is not necessary to complete end of year (EOY) processing for all modules at the same time. However, Customers, Sales Analysis and Products should have EOY run at the same time. Suppliers and General Ledger may be done later. Having said this, it may be that completing all EOY processing before entering any transactions for the new financial year is preferable. Remember, date-based posting can also be used to handle late-arriving invoices (see page 29). Manual or automatic ageing the choice is yours Period-based (manual ageing) Running a period-based system means that during the month or period, only transactions related to the current period can be entered. Once all transactions have been entered for the current period, you can print customer statements and monthly periodic reports. To age Customer and Supplier accounts, end of period needs to be processed so that correct ageing occurs prior to entering transactions for the next period. Thus, with a period-based system you must process EOY for Customers, Products, Suppliers and General Ledger. Date-based (automatic ageing) Running a date-based system allows you to work in any month or year. You can enter transactions into any month in the current or previous year and reprint reports for any given period of time. This allows you to continue processing first thing in the morning of a new month. There is no requirement to process end of period because the Customer and Supplier Ageing reports age automatically based on ageing bands that you specify. Customer statements are also aged automatically based on ageing bands and calculation dates set by you. If you run a date-based system then you need to process EOY for General Ledger only. You can continue to process transactions for the new financial year in the same set of data. To produce reports for the 2014/15 financial year, such as the Product Status Report, Supplier Ageing Report and customer statements, run the reports with a calculation date of 30/06/15. All transactions dated after this will not appear on the reports. End-of-Year Processing 2014/15 Attaché Accounts 7

8 Block Access to Accounts whilst Processing End of Year To block access to Accounts, sign on and choose File Set Up and Delete Companies. Select the company you wish to block and select Block User access. To explain why you have blocked the company, select Notes (F4), Blocked access message and then enter your message. End-of-Year Processing 2014/15 Attaché Accounts 8

9 Creating a Copy of Your Accounts Data Method 1 - Using Archive and Restore This copy of your accounts data will include ALL sub-ledgers + general ledger. 1 Access your current Accounts company. Select File Archive Current Company. This begins the backup process you can see the names of the files scroll by as they are archived. When finished the message Data archived successfully is displayed at the bottom of the Archive screen. 2 Create a new company for last year s data. If using Attaché Version 1.14 or earlier:- Select File Set Up and Delete Companies and enter a new company name (for example, Accounts ). Enter a new data path (a path that does not already exist) in the Location field (for example, C:\Attache\ACCTS1415). At Allow creation of new directory? choose Yes. Choose Accept (F9). If using Attaché BI:- Select File Set Up and Delete Companies and enter a new company name (for example, Accounts ). The Database name and Data Path are created automatically. Choose Accept (F9). End-of-Year Processing 2014/15 Attaché Accounts 9

10 3 Sign on to the new company. Select File Open Company and open the new accounts company. Then choose File Restore Company from Archive. 4 Select the Archive to restore. Select the archive you created in Step 1. Enter the location of where you wish to restore the data to. In our example, it is C:\ATTACHE\ACCTS1415: You now have a copy of your 2014/2015 accounts data. Check that the data has restored correctly (enquire or run reports). Method 2 Using Copy Data Files This copy of your accounts data will include ALL sub-ledgers + general ledger. 1 Note the pathname for your accounts data. Access your current live-accounts-company. Choose Tools Company System System Status and write down your current data path (for example, C:\Attache\Current). You will need this information later. 2 Create a new company for last year s data. If using Attaché Version 1.14 or earlier:- Select File Set Up and Delete Companies and enter a new company name (for example, Accounts ). Enter a new data path (a path that does not already exist) in the Location field (for example, C:\Attache\ACCTS1415). At Allow creation of new directory? choose Yes. Choose Accept (F9). If using Attaché BI:- Select File Set Up and Delete Companies and enter a new company name (for example, Accounts ). End-of-Year Processing 2014/15 Attaché Accounts 10

11 The Database name and Data Path are created automatically. Choose Accept (F9). 3 Sign on to the new company. Sign on with your normal user name. Choose File Open Company and select the copy-accounts-company. In our example this is Accounts Check that you are in the correct accounts company by choosing Tools Company System System Status. This will show your Current Data Path field as set up in the previous step. If not, choose Exit and select the correct company. 4 Copy account files to the new company. Choose Tools Company System Copy Data Files. If using Attaché Version 1.14 or earlier:- In the From Path field, enter the path where your original live-accountscompany is kept, which you wrote down in step 1 above. If using Attaché BI:- Select your live-accounts-company from the list of companies. Set the following options to Yes: System Files (copies the system file, including all module options) Data Files (copies your accounts data files) Fixed Assets (copies your fixed assets data, if you use Fixed Assets) Masterfile image files (copies any masterfile images you haves stored in the image folder) Menu Access file (copies each user s menu access rights) User Option files (copies each user s saved report options, screen layouts and shortcuts) Copy Customer screens and print layouts. Page Down and copy Supplier screens, print layouts and cheque layouts. Check that the data has copied correctly (enquire or run reports). End-of-Year Processing 2014/15 Attaché Accounts 11

12 EOY Processing Accounts Once you have created a copy of your accounts data this will be a complete record of your 2014/2015 financial year. DO NOT RUN EOY ON THIS DATA. EOY is to be run on your accounts data that you will enter transactions for the financial year. So make sure you have lots of backups before processing! End-of-Year Processing 2014/15 Attaché Accounts 12

13 End-of-Year Checklist Customers Finalise transaction entry Check that the system date is the last day of the financial year. Finish processing transactions. Ensure all orders, payments, invoices and credit adjustment notes have been entered for the year. Write off bad debts and small credit balances. Note that bad debts should be written off by entering a Credit Adjustment Note so as to ensure correct information is stored for BAS calculation purposes. Allocate unallocated transactions. This is particularly important if you are using the Cash Reporting method for your Business Activity Statement. Transactions which remain unallocated will not be taken into account when calculating Cash Receipts/Cash Payments for BAS. Convert orders to invoices for goods or services supplied. Delete orders that will never be filled. To delete orders with backordered lines, choose the delete backordered option when generating orders to invoices. Print reports Print the BAS Allocation Report, then reconcile and run a BAS Update. Print any reports required for the end of month, but do not run the End-of- Month Process. Print any additional reports required for the end of year. Make sure all operators have exited Attaché and no other Attaché tasks are open. Print the Other Module Posting reports for Customers. Update the General Ledger with Customer General Ledger Transactions. TIP Use Attaché ExpressLink to save your reports, for example as a PDF, for future reference. This reduces the need to maintain hard copies and helps to make historical reports easier to locate. End-of-Year Processing 2014/15 Attaché Accounts 13

14 Check that the Debtors control account in the General Ledger agrees with the Customer Aged Trial Balance, and make corrections if required. Tip ClearView Financial Controller can help you keep your GL and sub-ledgers in balance throughout the year. Archive data Archive all of your data. Take note of the date and time. Keep this archive as a permanent record. Process end of year Select Period End Customers End of Period Customers. Set the End of Period field to Yes. Set the End of Year field to Yes. Check the End-of-Period report against the Aged Trial Balance totals and the General Ledger debtors control account. Summary Customers EOY All period to date (PTD) and year to date (YTD) sales and cost figures clear. The amount for each period moves to the next ageing category. The opening balance for each customer changes to equal their current balance. Archive data Archive your data. Take note of the date and time. Keep this archive as a permanent record. End-of-Year Processing 2014/15 Attaché Accounts 14

15 End-of-Year Stocktake If it is necessary for you to conduct a stocktake as part of your end-of-year procedures, the following notes may assist you. You can carry out one large stocktake or you can run several small stocktakes based on various ranges of products. Up to 99 stocktakes can be in progress at any one time. Create work data (list of products) If you are intending to carry out multiple stocktakes, enter your stocktake number, then enter the group, product or bin range as required. Press Accept (F9) to create work data and Close (Esc) to return to the menu. Print worksheets Select the stocktake number, sequence and the options required. Note Your physical count should be carried out as soon as you have created the stocktake work data and printed your worksheets. No transactions for a product should be processed until the physical count for that product is complete. Physically check stock numbers Use the worksheets to record the actual quantity of stock on hand. Once the count of all products on the worksheet has been completed you can continue normal processing. Once the count of all products on the worksheet has been completed you can continue normal processing. End-of-Year Processing 2014/15 Attaché Accounts 15

16 Enter physical quantities Select the relevant stocktake number. Enter Yes or No to Set Physical Quantity to Book Quantity. Select Yes if you want the Book Quantity to display in the In Stock Quantity field for each product. You can then simply accept the quantity details for any product where the quantity has not changed. Select the same sequence that you chose when printing your worksheets. Press Accept (F9) to begin entering stock quantities. Enter the actual quantity for each stock item, pressing Accept (F9) after each entry. When all products have been updated choose Close (Esc) to return to the menu. Confirm variances Choose Print Variance report. Select the relevant stocktake number and sequence required. Press Print (F9) to print the Stocktake Variance report and Close (Esc) to return to the menu. Double check that all variances are correct. If an error has occurred, return to Enter physical quantities and make the necessary adjustments. Repeat this process until all variances are correct. Take a backup before proceeding! Update stock levels To update stocktake levels choose Product File Update. Select the stocktake number or range of numbers as required and press Accept (F9) to update stock levels. During Product File Update, the variance quantity will be added to the current quantity in stock for each product. The variance quantity is the difference between the physical count entered and the book quantity at the time the stocktake was created. As it is the variance and not the physical count that updates the product, the new in-stock quantity will be correct even if there have been receipts, invoices, etc. entered while physical counts were being entered. When the update is complete a message asking Keep work data? Yes/No will appear. Choose No so that duplicate stocktake details are not generated. If you have selected General Ledger Postings in the Product Options, the update will automatically create the General Ledger journal entry between inventory and stocktake variance. Update the General Ledger with Product General Ledger Transactions. Choose Close (Esc) to return to the menu selection. End-of-Year Processing 2014/15 Attaché Accounts 16

17 Note Print a Stock Status report to ensure Stock Details are as required before continuing. End-of-Year Processing 2014/15 Attaché Accounts 17

18 End-of-Year Checklist Products Finalise transaction entry Check that the date being processed is the last day of the financial year. Finish processing transactions. Ensure any Product Adjustments have been entered for the year. Make sure all operators have exited Attaché and no other Attaché tasks are open before completing this procedure. Archive and stocktake Archive your data. Take note of the date and time. Keep this archive as a permanent record. Prepare stocktake documentation and complete stocktake. (Refer to stocktake information on page 15.) Tip Print reports Print any reports required for the end of month but do not run the End-of- Month Process. Print any additional reports required for the end of year. Print the Other Module Posting reports for Products. Tip Use Attaché Expresslink to save your reports, for example as a PDF, for future reference. This reduces the need to maintain hard copies and helps to make historical reports easier to locate. Update the General Ledger. Check that: Stock Status Report = General Ledger inventory account Process adjustments if required. GL Financial Controller can help you keep your GL and sub-ledgers in balance throughout the year. End-of-Year Processing 2014/15 Attaché Accounts 18

19 Make sure all operators have exited Attaché and no other Attaché tasks are open before completing the following procedure. Archive data Archive your data. Take note of the date and time. Keep this archive as a permanent record. Process end of year Select Period End Products End of Period Products. Set End of Period to Yes. Set End of Year to Yes. Check the Stock Status report against the General Ledger Inventory Control Account. Archive data (post processing) Archive your data. Take note of the date and time. Keep this archive as a permanent record. Summary Products EOY All PTD and YTD quantity, sales and cost figures clear. The opening stock for each product changes to equal the quantity in stock. End-of-Year Processing 2014/15 Attaché Accounts 19

20 End-of-Year Checklist Suppliers Finalise transaction entry Check that the date being processed is the last day of the financial year. Finish processing transactions. Ensure all payments, invoices, goods received and credits have been entered for the year. Adjust small credit balances. Allocate unallocated transactions. This is particularly important if you are using the Cash Reporting method for your Business Activity Statement. Transactions which remain unallocated will not be taken into account when calculating Cash Receipts/Cash Payments for BAS. Delete purchase orders that will never be filled. Print the BAS Allocation report, reconcile and then run a BAS Update. Tip Print reports Print any reports required for the end of month but do not run the End-of- Month Process. Print any additional reports required for the end of year. Tip Use Attaché Expresslink to save your reports, for example as a PDF, for future reference. This reduces the need to maintain hard copies and helps to make historical reports easier to locate. Make sure all operators have exited Attaché and no other Attaché tasks are open before completing this procedure. Print Other Module Posting reports for Suppliers and Purchasing. Update the General Ledger. Check that: Creditors Control Account = Supplier Aged Trial Balance Make any corrections as required. GL Financial Controller can help you keep your GL and sub-ledgers in balance throughout the year. End-of-Year Processing 2014/15 Attaché Accounts 20

21 Archive data Archive your data. Take note of the Date & Time of the Archive. Keep this backup as a permanent record. Process end of year Select Period End Suppliers End of Period Suppliers. Set the End of Period field to Yes. Set the End of Year field to Yes. Print the End-of-Period report. Check the End-of-Period report against the Aged Trial Balance totals and the General Ledger creditors control account. Archive data Archive your data. Take note of the date and time of the archive. Keep this archive as a permanent record. Summary Suppliers EOY All PTD and YTD purchases and payment figures clear. The amount for each period moves to the next ageing category. The opening balance for each supplier changes to equal their current balance. End-of-Year Processing 2014/15 Attaché Accounts 21

22 General Ledger Chart Is it Ready to Roll? Print your General Ledger Chart of Accounts and check the following: Reports General Ledger Details Chart List. Add-to account Each posting account adds to a total account, which is then used to accumulate totals on financial reports. An account must add down the chart to a greater account code. You can only add to a Type 4 Total Account. Examples: Sales accounts add to Net Sales;, Expense accounts add to Total Expenses. End-of-year indicator During the end-of-year processing you will want the balance of certain accounts to carry forward into the new year and others to clear. In addition, you may want the closing balance of one account to be the opening balance of another account. Check the following: Income & expense accounts Income & Expense are tracked for one year and at the end of the year the balances are reset to zero. The EOY Indicator should be 0 Reset. The opening balance for the new year will be zero. Balance Sheet accounts Balance Sheet accounts are running totals of Assets and Liabilities, therefore the balances are not cleared out at the end of year. The EOY Indicator should be 1 Retain. The closing balance will be brought forward as the opening balance for the new financial year. Carrying forward retained earnings The net profit at the end of year is set to zero and the balance transferred to Retained Earnings for the new year. Retained Earnings C/Fwd should be a Total account with EOY Indicator 2 Closing Balance. This will be the total of the Profit in the ending year. Retained Earnings B/Fwd should be a Posting account with EOY Indicator 3 Opening Balance. This is the account the profit will be posted to during end of year. End-of-Year Processing 2014/15 Attaché Accounts 22

23 End-of-Year Account For Closing and Opening Balance accounts, you have to enter the corresponding account code the balance is to transfer to or from. End-of-Year Processing 2014/15 Attaché Accounts 23

24 End-of-Year Checklist General Ledger End-of-year processing Check that the Period is set to the last period of the financial year. Finish processing transactions. Ensure all payments, receipts, journals and other modules postings have been entered for the year and that the bank reconciliation is complete. Make sure all operators have exited Attaché and no other Attaché tasks are open. Print reports Print the Trial Balance report and make sure last year totals equal zero and debit and credit columns for current year are equal. Print the Profit & Loss / Balance Sheet and ensure that it balances (that is, Net Assets = Total Equity/Shareholders Funds). If Profit & Loss / Trial Balance are out of balance, see page 22 and check the structure of your Chart of Accounts. Print a Bank Reconciliation. Print any additional reports. The Transactions by Account report provides details of all entries to the General Ledger as well as details/narrations keyed at the time of entry. Tip Use Attaché ExpressLink to save your reports, for example as a PDF, for future reference. This reduces the need to maintain hard copies and helps to make historical reports easier to locate. End-of-Year Processing 2014/15 Attaché Accounts 24

25 Archive data Archive your data. Take note of the date and time of the archive. Keep this archive as a permanent record. Process end of year Check that the period has been set to the last period of the financial year. Select End-of-Period for General Ledger. Set the Copy this year to last year to No (If you have already have a copy of your 2014/2015 General Ledger. If required, set the Reset Budget Values field to Yes. If you are using Bank Reconciliation set the Retain Unreconciled Transactions field to Yes. Print a Trial Balance to ensure the end-of-year process has completed correctly. Archive data Archive your data. Take note of the date and time of the archive. Keep this archive as a permanent record. Summary General Ledger EOY Posts ending year s period balances to last year and makes them available for reporting in the new financial year. Resets the current general ledger for the new year s processing. Clears transaction detail and resets the batch number to 1. End-of-Year Processing 2014/15 Attaché Accounts 25

26 Adjustments to General Ledger 2014/2015 If you make adjustments to the 2014/2015 General Ledger you will need to adjust opening balances in the 2015/2016 General Ledger. To adjust opening balances in 2015/2016 General Ledger: Select Setups General Ledger Opening Balances Enter Opening Balances and then either choose Maintain Balances to manually adjust opening balances Import Last Year Data to import data from 2014/15 financial year Set the Adjust This Year Opening Balances check box to Yes. End-of-Year Processing 2014/15 Attaché Accounts 26

27 Disabling Editing in Previous-Year Company Disabling access prevents unauthorised users from opening maintenance tasks. Maintenance tasks are any task which allows a user to create, edit, maintain or delete data. Non-maintenance tasks are enquiry, lookup and reporting. When disabling access, you can add your own comment to the standard information message which displays when unauthorized users attempt to access the company. The information message advises that the company has been disabled and which user is responsible. To disable access to a company: Sign on and choose File Set Up and Delete Companies. Select the company you wish to disable. Set the Disable edit functions checkbox to Yes. If required, type a password level from 1-9. To add a comment to the information message select Notes (F4) and select Disable edit functions. Type your message. End-of-Year Processing 2014/15 Attaché Accounts 27

28 Preventing Access to Previous-Year Company You can now determine which companies are accessible to each user. Making a company unavailable to a user means it will not be displayed on the companies list when they sign on and when they choose Open Company from the File menu. To determine which companies are available to a user: Choose File Set Up and Delete Companies. Select the company and then choose User Access (F7). Use Available/Unavailable (F7) and All Yes (F11) or All No (F12) to indicate which companies the user can access. End-of-Year Processing 2014/15 Attaché Accounts 28

29 Appendix Date-Based Posting to Handle Late- Arriving Invoices After processing EOY you will have two companies: A copy of 2014/2015 Accounts data Current data that you will continue processing for the financial year 2015/2016 End-of-Year Processing 2014/15 Attaché Accounts 29

30 To process Supplier invoices received in July that should be in the previous financial year: Go to Transactions Suppliers Invoices Create and enter the Supplier invoice into your Current Data company. Print the GL postings for Suppliers, selecting the date range of the transactions. Because these transactions belong in the previous financial year General Ledger, you need to log in to the 2014/2015 company and post to the General Ledger. Log in to the 2014/2015 company and go to Transactions General Ledger Post from Other Modules. Make sure the Period is 12. Enter the path to the data where you entered the invoice and select the date range of the transactions. End-of-Year Processing 2014/15 Attaché Accounts 30

31 Now that changes have been made to the 2014/2015 General Ledger, you will need to adjust the opening balances of the 2015/2016 General Ledger. Note Before importing opening balances print a P&L Balance Sheet Reports General Ledger Financial Standard Financial Reports Sign on to Current Accounts (2015/2016) company and go to Setups General Ledger Opening Balances Enter Opening Balances. Select Import Last Year Data and enter the path/company of the 2014/2015 company. Select Yes to adjust opening balances. End-of-Year Processing 2014/15 Attaché Accounts 31

32 Housekeeping Please see the Attaché guide Deleting Masterfile Records, which you can obtain from the Attaché Members Website. End-of-Year Processing 2014/15 Attaché Accounts 32

33 End of Year Checklist Company Name:.. Date:...Period. Customers Do not enter any transactions for the new financial year until you have processed the end of year. Begin End-of-Year Processing Check that the Attaché system date is the last day of the financial year. Finish processing transactions, ensuring all orders, payments, invoices and credit adjustment notes have been entered for the year. Write off bad debts and small credit balances. Allocate unallocated transactions. Convert orders to invoices for goods or services supplied. Delete orders that will never be filled, including orders with backordered lines. Print BAS Allocation Report, reconcile and run BAS Update. Print Reports Print any reports required for the end of month, but do not run the End-of- Month Process. Print any additional reports required for the end of year. Back Up End-of-Year Data (prior to processing) Make sure all operators have exited Attaché and no other Attaché tasks are open. Print Other Module Posting reports for Customers. Update the General Ledger. Check that the Debtors control account equals the Customer Aged Trial Balance. Make corrections if required. Archive your data. Note the date and time of the archive. Keep this backup as a permanent record. End-of-Year Processing 2014/15 Attaché Accounts 33

34 End of Year Checklist Company Name:.. Date:...Period. Customers (continued) Process End of Year Select Period End Customers End of Period Customers. 1 Set End of Period to Yes. 2 Set End of Year to Yes. Print the End-of-Period report. Check it against the Aged Trial Balance totals and the General Ledger Debtors Control Account. Archive End-of-Year Data (post processing) Archive your data. Note the date and time of the archive. Keep this backup as a permanent record. End-of-Year Processing 2014/15 Attaché Accounts 34

35 End of Year Checklist Company Name:.. Date:...Period. Products Do not enter any transactions for the new financial year until you have processed the end of year. Begin End-of-Year Processing Check that the Attaché system date is the last day of the financial year. Finish processing transactions, ensuring all receipts, adjustments, issues, transfers, returns and consignments have been entered for the year. Archive and Stocktake Archive your data. Note the date and time of the archive. Keep this backup as a permanent record. Prepare stocktake documentation and complete stocktake. Print Reports Print any reports required for the end of month, but do not run the End-of- Month Process. Print any additional reports required for the end of year. Archive End-of-Year Data (prior to processing) Print the Other Module Posting reports for Products. Update the General Ledger. Make sure all operators have exited Attaché and no other Attaché tasks are open. Archive your data. Note the date and time of the archive. Keep this backup as a permanent record. End-of-Year Processing 2014/15 Attaché Accounts 35

36 End of Year Checklist Company Name:.. Date:...Period. Products (continued) Process End of Year Select Period End Products End of Period Products. 3 Set End of Period to Yes. 4 Set End of Year to Yes. Archive End-of-Year Data (post processing) Archive your data. Note the date and time of the archive. Keep this backup as a permanent record. End-of-Year Processing 2014/15 Attaché Accounts 36

37 End of Year Checklist Company Name:.. Date:...Period. Suppliers Do not enter any transactions for the new financial year until you have processed the end of year. Begin End-of-Year Processing Check that the Attaché system date is the last day of the financial year. Finish processing transactions, ensuring all purchase orders, payments, invoices, goods received, goods returned and credit adjustment notes have been entered for the year. Adjust small credit balances. Allocate unallocated transactions. Enter goods received or invoices for goods received. Delete purchase orders that will never be filled. Print BAS Allocation Report, reconcile and run BAS Update. Print Reports Print any reports required for the end of month but do not run the End-of- Month Process. Print any reports required for the end of year. Make sure all operators have exited Attaché and no other Attaché tasks are open. Archive End-of-Year Data (prior to processing) Print Other Module Posting reports for Suppliers and Purchasing. Update the General Ledger. Check that: Creditors Control Account = Supplier Aged Trial Balance Make corrections if required. Archive your data. Note the date and time of the archive. Keep this backup as a permanent record. Keep this backup as a permanent record. End-of-Year Processing 2014/15 Attaché Accounts 37

38 End of Year Checklist Company Name:.. Date:...Period. Process End of Year Select Period End Suppliers End of Period Suppliers. 1 Set End of Period to Yes. 2 Set End of Year to Yes. Check the End-of-Period report against the Aged Trial Balance totals and the General Ledger creditors control account. Archive End-of-Year Data (post processing) Archive your data. Note the date and time of the archive. Keep this backup as a permanent record. End-of-Year Processing 2014/15 Attaché Accounts 38

39 End of Year Checklist Company Name:.. Date:...Period. General Ledger Do not update Other Modules Postings or enter any transactions for the new financial year until you have processed the end of year. Begin End-of-Year Processing Check that the Attaché system date is the last day of the financial year. Finish processing transactions, ensuring all payments, receipts, journals and other modules postings have been completed for the year. Make sure all operators have exited Attaché and no other Attaché tasks are open. Print Reports Print the Trial Balance report. Print the Profit and Loss Balance Sheet. Print a Bank Reconciliation. Check Reports Make sure Trial Balance debits and credits are equal and last year s balance equals zero. Check that the Balance Sheet balances, i.e. Net Assets = Total Equity Print any additional reports. Archive End-of-Year Data (prior to processing) Archive your data. Note the date and time of the archive. Keep this backup as a permanent record. End-of-Year Processing 2014/15 Attaché Accounts 39

40 End of Year Checklist Company Name:.. Date:...Period. General Ledger (continued) Process End of Year Check that the period has been set to the last period of the financial year. Select Period End General Ledger End of Period End of Year. 1 If required, set Reset Budget Values to Yes. 2 If you are using Bank Reconciliation set Retain Unreconciled Transactions to Yes. Print a Trial Balance to ensure the end-of-year process has completed correctly. Archive End-of-Year Data (post processing) Archive your data. Note the date and time of the archive. Keep this backup as a permanent record. Last Year s Data When all Last Year adjustments have been entered into the GENERAL LEDGER 2014/2015 company, closing balances can be imported into the 2015/2016 company by using Setups General Ledger Opening Balances Enter Opening Balances and choosing the Import Last Year Data option. End-of-Year Processing 2014/15 Attaché Accounts 40