End of Year Planning and Checklists

Transcription

1 TechnlgyOne Financials End f Year Planning End f Year Planning and Checklists This dcument prvides checklists and discussin pints fr sme f the main Technlgy One mdules. The TechnlgyOne Supprt Centre knwledge base als cntains End f Year checklists. End f Year Preparatin Step When Prcedure Establish and publish Anytime Prir t End f Year Determine rllver dates t suit business requirements. TechnlgyOne Financials ffers a high degree f flexibility enabling each Mdule t be independently rlled ver t the new Financial Year. Fr example: AR 02/07/12 AP 06/07/12 GL 09/07/12 Purchasing 29/06/12 Assets 06/07/12 Bank Rec. 06/07/12 Inventry 03/07/12 Review System Variables Anytime Prir t End f Year T enable flexibility in TechnlgyOne Financials each Mdule shuld have its wn set f System Variables fr Prcessing Grups and Perids. It is likely that AP will have tw sets f variables, ne fr day t day prcessing and ne fr payment prcessing. AR may have separate invice and receipt variables t. Review Data Entry Frmats Anytime Prir t End f Year It is pssible t prcess transactins in different Financial Years prvided Data Entry Frmats have been established t allw this. T1Financials_EOY_Planning_dcx

2 TechnlgyOne Financials End f Year Planning GENERAL LEDGER Discussin Pint Chart f Accunts Is the Chart f Accunts structure meeting ur needs? Mdifying the Primary Ledger (General Ledger) Chart structure is a significant undertaking that requires careful planning and testing well in advance f its intrductin. It is rarely necessary t re-structure the chart f accunts, hwever it is nt uncmmn fr existing TechnlgyOne Financials t migrate t cmpnent charts frm the lder less-functinal individual General Ledger Charts. The need t capture additinal r different detail can ften be met thrugh the implementatin f a subsidiary chart and assciated ledgers. Step When Prcedure Set up New Years Ledgers and Prcessing Grups (including Budget, Frecast, Funds, Cmmitments as required) Anytime Prir t End f Year Perfrm the fllwing: Create New Years Peridic type Ledgers Cpy Last Years Prcessing Grup t the New Years Prcessing Grup (This will cpy all Subsidiary Ledger, Inter Entity settings and Masked Disbursement rules) Change any Peridic type Subsidiary Ledgers t the new Ledger Names. Ensure all Outstanding Batches have been Psted r Deleted Prir t updating Prcessing Grup and Perid variables Pst r Delete utstanding batches as required. Prcessing Grup and Perid System Variables Using System Variable Maintenance change the Prcessing Grup and Perid Variables related t the General Ledger. Other System Variables System Variables that are used fr ledger names will need t be changed. It is likely that User Security has been built based n variable values. Lading New Years Budgets and Frecast At Anytime New Years Budgets and Frecasts may be laded int the new years Ledgers using Ledger Imprt, XLOne Mdeller, Enterprise Budgeting r Batch Imprt. T1Financials_EOY_Planning_dcx

3 TechnlgyOne Financials End f Year Planning Step When Prcedure Rll Ledger Balances t the New Year Rll Reversing Jurnal Balances t perid 1 in the New Year Anytime prir t printing Reprts that rely n Opening r Brught Frward balances Anytime prir t printing Reprts fr Perid 1 The Allcatins mdule can be used t calculate the balances that need t be rlled ver and prduce a jurnal that can be psted int perid 0 f the new year. Typically a Prfit Calculatin Allcatin Definitin is run t determine prfit r lss by reading all prfit and lss accunt balances fr the perid range 1 t 13 (r 14 (depending n whether r nt yu use Perid 12 r 13 fr Balance Day Adjustments). Assuming Perid 13 is used fr End f Year adjustments; the allcatin will reverse all prfit and lss accunt balances and pst the difference t retained earnings in Perid 14. A Balance Sheet Transfer allcatin wuld be run immediately fllwing the psting f the previus allcatin t transfer balance sheet accunt balances frm Perid 1 t 14 t Perid 0 f the new year. These allcatins may be run, and then reversed using the Dcument File Cpy and Reverse Transactin signage functin. They can be run and reversed as ften as necessary fllwing additinal adjustments and ther end f year prcessing. Variatins where all transactins fr the GL are psted t Perid 13 frm a nminated time, and anther versin f the End f Year allcatins is run t re-calculate prfit and transfer balances frm Perid 13 nly may be emplyed. Balances frm ther subsidiary ledgers may als be rlled frward int Perid 0 f the new r existing subsidiary ledger. It s pssible t transfer all r selected balance sheet accunt balances such as Banks, Debtrs and Creditrs cntrl balances t Perid 0 f the new year as a reversing jurnal int Perid 1. The purpse is t aid the bank recnciliatin and maintain up-t-date balances in nminated key accunts. The Allcatins mdule can be used t calculate the balances that need t be rlled ver and prduce a jurnal that can be psted int Perid 0 f the new year, and reversed in Perid 1. T1Financials_EOY_Planning_dcx

4 TechnlgyOne Financials End f Year Planning TAXATION Step When Prcedures Finalise Outstanding BAS Generatins Prir t any BAS Cntrl maintenance Perfrm the fllwing: Cmplete and finalise the last BAS fr the financial year BAS Cntrl Maintenance After finalisatin f last BAS fr the Financial Year Perfrm the fllwing: Add new years ledgers including Entity and Capital accunt criteria Set prir year ledgers ledger year t Prir Year (r remve them frm BAS cntrl if the will definitely nt receive any mre GST transactins) T1Financials_EOY_Planning_dcx

5 TechnlgyOne Financials End f Year Planning BANK RECONCILIATION Step When Prcedures Add New Years Ledger Anytime Add the New Years Ledger t the Bank Accunt. This is dne in Bank Accunt Maintenance. Update Prcessing Grup and Perid values Perfrm the fllwing: Update Recnciliatin Grup Maintenance (this was nt a variable in early versins) Update system variable fr current Bank Recnciliatin perid Enter Cntra Opening Balance Amunt When required In the New Year, the New Years pening Balance transactin will be laded int the Ledger Bk and becme an unmatched item. T recncile this item, use Ledger Bk Maintenance t manually enter an equal but ppsite amunt, then use Manual Recnciliatin t match it ff against the pening balance amunt. T1Financials_EOY_Planning_dcx

6 TechnlgyOne Financials End f Year Planning PURCHASING Discussin Pint Outstanding Requisitins, Orders, Deliveries What d we d with utstanding Requisitins, Orders and Deliveries? Review Requisitins; delete any Requisitins that are n lnger required. Review Orders; delete any Orders that are n lnger required. Review Deliveries Run Cmmitment Carry Frward prcess Step When Prcedures Change Prcessing Grup Update the current Purchasing Prcessing Grup System Variable. Nte: TechnlgyOne Financials checks the Inventry System s Prcessing Grup against the Purchasing Prcessing Grup; ensure that they are in sync. Accrue Expenses Usually n the same day that AP is clsed and prir t Cmmitment Carry Frward If yu are nt using the Expense n Delivery functinality use Allcatins t accrue utstanding Deliveries. Run Cmmitment Carry Frward May be n the same day that AP is clsed. Depends if cmmitments are required fr reprting at end f Financial Year. Cmmitments be cpied int a cmmitment ledger at end f year then immediately carried frward. Run the Cmmitment Carry Frward Prcess t mve all utstanding Requisitins, Orders and Deliveries t the New Years Prcessing Grup. This will need t be dne fr each Purchasing Lcatin. T1Financials_EOY_Planning_dcx

7 TechnlgyOne Financials End f Year Planning ACCOUNTS PAYABLE Discussin Pint Archiving Mdule, Perpetual r Peridic Ledgers The best ptin is t purchase the TechnlgyOne Archiving Mdule, which enables yu t mve transactins frm a certain age r date t an Archive database. This prvides users with the access t the full detailed transactins when necessary but remves them frm the default view presented t users in regular transactin reprts and enquires. Alternative ptins are Perpetual r Peridic Ledgers? Belw are the advantages and disadvantages f each ptin. Perpetual Ledger Advantages: 1. All histrical transactin data is lcated in a single ledger 2. Enables the full use f TechnlgyOne Financials Create and Cancel Wizards Disadvantages: 1. All histrical transactin data is lcated in a single ledger 2. Difficult t recncile an individual Perid Balance t the General Ledger Perid Balance. Can still easily recncile the verall creditrs cntrl balance with utstanding creditrs. Peridic Ledger Advantages: 1. Able t view the transactin histry f a Creditr t a single Financial Year 2. Able t easily recncile AP Perid Balances t the General Ledger Creditrs Cntrl Perid Balance Disadvantages: 1. Unable t view the full transactin histry f a Creditr in a single ledger. Need t include all AP ledgers in reprts. Standard AP Enquiries wrk read frm a single ledger at a time. 2. Unable t make use f TechnlgyOne Financials Create and Cancel Wizards Step When Prcedure Run last Cheque Run fr the Year. Run the last cheque run fr the year. Run Applicatin Finalisatin Ensure Item Applicatin Finalisatin has been cmpleted fr applicatins and cancellatins. Prcess Last Invices Prcess invicing as usual fr all invices dated as at the End f Year r befre. Pst All Batches Ensure all AP type batches are psted. Aged Analysis Reprts Run a summary and detailed Aged Analysis Trial Balance as at End f Year. Nte: Depending n yur TechnlgyOne Financials versin this may need t be dne BEFORE new years payments are prcessed. July payments that pay June invices will cause thse June invice t lnger appear in an Aged Analysis T1Financials_EOY_Planning_dcx

8 TechnlgyOne Financials End f Year Planning reprt, if yu re nt using the later versin that enables the Aged Trail Balance reprts t successfully run retrspectively as at a nminated date. Older versins f this reprt include nly transactins that are currently utstanding. S June invices paid in July were excluded. It is pssible t run a custm XL One Perid Balance reprt r EIE Enquiry that will that prvides a breakdwn f the amunts wing t each creditr that will balance t GL Creditrs Cntrl. Ledger Perid Transfer Transfer all transactins int perid 0 using the Ledger Transactin Perid Transfer functin. Nte: At the very least Perid 1 must be transferred prir t prcessing any new year transactins. Data Entry Frmats Prcessing Grups and Perids The Data Entry Frmats shuld use system variables The Data Entry Frmats shuld use system variables t determine the prcessing grups and perids, hwever test this t be sure. Ledger Statistics Reset T reset YTD statistics if required. Prcess if yu are taking a cpy f yur peridic ledger, renaming it with the year suffix and deleting cmpleted transactins: This prcess belw is cpied and pasted frm the Technlgy One Financials End f Year Checklist , available via the Supprt Centre knwledge base. (Yu wuld nt d this if yu re licensed t use the Archiving mdule) Perpetual Ledgers are thse which carry/rll n frm year t year. Cpy Perpetual Ledger/s, thrugh Ledger Cpy. Fr example yu may wish t cpy the AP ledger and rename it t shw the relevant year, fr example AP2009. Nte: The cpied perpetual ledger is a snapsht f the ledger s psitin as at this time. Yu cntinue prcessing in the riginal perpetual ledger. Nte: During the Ledger Cpy prcess if yu experience the fllwing message "Pst utstanding applicatins befre cpying" yu need t run an Item Applicatin Finalisatin fr this ledger. In the riginal Perpetual Ledger, in this example AP, run a Ledger Transactin Deletin. Nte: This shuld be run accrding t yur rganisatins transactin retentin plicy, and wuld usually be run acrss Perid 0. When determining the retentin f transactins yu shuld cnsider/cater fr yur ability t enquire/reprt n transactins at a later date and als t prcess further transactins based n these, fr example Cancelling a Cheque, etc. This deletes all finalised/cmpleted transactins. It des nt delete utstanding transactins r pen transactins, unless specifically requested. Run a Ledger Transactin Perid Transfer n the new Perpetual Ledger t transfer transactins frm perids 1 12 int perid 0. Nte: This may take sme time depending n the size f the database and will use up significant resurces. Ensure yu transfer at least Perid 1 transactins t Perid 0, prir t cmmencing prcessing fr the new year T1Financials_EOY_Planning_dcx

9 TechnlgyOne Financials End f Year Planning ACCOUNTS RECEIVABLE Discussin Pint Archiving Mdule, Perpetual r Peridic Ledgers The best ptin is t purchase the TechnlgyOne Archiving Mdule, which enables yu t mve transactins frm a certain age r date t an Archive database. This prvides users with the access t the full detailed transactins when necessary but remves them frm the default view presented t users in regular transactin reprts and enquires. Alternative ptins are Perpetual r Peridic Ledgers? Belw are the advantages and disadvantages f each ptin. Perpetual Ledger Advantages: 1. All histrical transactin data is lcated in a single ledger 2. Enables the full use f TechnlgyOne Financials Create and Cancel Wizards Disadvantages: 1. All histrical transactin data is lcated in a single ledger 2. Difficult t recncile an individual Perid Balance t the General Ledger Perid Balance. Can still easily recncile the verall Debtrs cntrl balance with utstanding Debtrs. Peridic Ledger Prs: 1. Able t view the transactin histry f a Debtr t a single Financial Year 2. Able t easily recncile AR Perid Balances t the General Ledger Debtrs Cntrl Perid Balance Cns: 1. Unable t view the full transactin histry f a Debtr in a single ledger. Need t include all AR ledgers in reprts. Standard AR Enquiries wrk read frm a single ledger at a time. 2. Unable t make use f TechnlgyOne Financials Create and Cancel Wizards Step When Prcedures Prcess all Current Years Invices and Receipts. Prcess Invices and Receipts as nrmal. Finalise all Direct Debit wrksheets Pst All Batches Ensure Item Applicatin Finalisatin has been cmpleted fr applicatins and cancellatins. Ensure all AR batches are psted. Debtrs Statements Run Debtrs Statements. Aged Analysis Reprts Run a summary and detailed Aged Analysis Trial Balance as at End f Year. Run a summary and detailed Aged Analysis Trial Balance as at End f Year. Nte: Depending n yur TechnlgyOne T1Financials_EOY_Planning_dcx

10 TechnlgyOne Financials End f Year Planning Step When Prcedures Financials versin this may need t be dne BEFORE new years payments are prcessed. July payments that pay June invices will cause thse June invice t lnger appear in an Aged Analysis reprt, if yu re nt using the later versin that enables the Aged Trail Balance reprts t successfully run retrspectively as at a nminated date. Older versins f this reprt include nly transactins that are currently utstanding. S June invices paid in July were excluded. It is pssible t run a custm XL One Perid Balance reprt r EIE Enquiry that will that prvides a breakdwn f the amunts wing t each creditr that will balance t GL Debtrs Cntrl. Ledger Perid Transfer Transfer all transactins int perid 0 using the Ledger Transactin Perid Transfer functin. Nte: At the very least Perid 1 must be transferred prir t prcessing any new year transactins. Data Entry Frmats Prcessing Grups and Perids The Data Entry Frmats shuld use system variables t determine the prcessing grups and perids, hwever test this t be sure. Update Direct Debit Definitin Update the Direct Debit Definitin fr the new Prcessing Grup and perid Ledger Statistics Reset T reset YTD statistics if required. Prcess if yu are taking a cpy f yur peridic ledger, renaming it with the year suffix and deleting cmpleted transactins: This prcess belw is derived frm the Technlgy One Financials End f Year Checklist , available via the Supprt Centre knwledge base. (Yu wuld nt d this if yu re licensed t use the Archiving mdule) Perpetual Ledgers are thse which carry/rll n frm year t year. Cpy Perpetual Ledger/s, thrugh Ledger Cpy. Fr example yu may wish t cpy the AP ledger and rename it t shw the relevant year, fr example AR2012 Nte: The cpied perpetual ledger is a snapsht f the ledger s psitin as at this time. Yu cntinue prcessing in the riginal perpetual ledger. Nte: During the Ledger Cpy prcess if yu experience the fllwing message "Pst utstanding applicatins befre cpying" yu need t run an Item Applicatin Finalisatin fr this ledger. In the riginal Perpetual Ledger, in this example AR, run a Ledger Transactin Deletin. T1Financials_EOY_Planning_dcx

11 TechnlgyOne Financials End f Year Planning Nte: This shuld be run accrding t yur rganisatins transactin retentin plicy, and wuld usually be run acrss Perid 0. When determining the retentin f transactins yu shuld cnsider/cater fr yur ability t enquire/reprt n transactins at a later date and als t prcess further transactins based n these, fr example Cancelling a Receipt, etc. This deletes all finalised/cmpleted transactins. It des nt delete utstanding transactins r pen transactins, unless specifically requested. Run a Ledger Transactin Perid Transfer n the new Perpetual Ledger t transfer transactins frm perids 1 12 int perid 0. Nte: This may take sme time depending n the size f the database and will use up significant resurces. Ensure yu transfer at least Perid 1 transactins t Perid 0, prir t cmmencing prcessing fr the new year. Nte: The cpied perpetual ledger is a snapsht f the ledger s psitin as at this time. Yu cntinue prcessing in the riginal perpetual ledger. T1Financials_EOY_Planning_dcx

12 TechnlgyOne Financials End f Year Planning ASSET MANAGEMENT Step When Prcedures Run Depreciatin Run Depreciatin fr last perid f the Financial Year Pst All Asset Transactins Ensure all Asset batches are psted. Change Prcessing Grup and Perid Prir t perfrming any Asset functins fr the New Year Change Prcessing Grup and Perid defaults. These shuld be system variables. Update Date check values Prir t perfrming any Asset functins fr the New Year Change the values in Asset Register Maintenance relating t Cmmissin and Dispsal date ranges. Cmmitments Regeneratin Prir t perfrming any Asset functins fr the New Year Run the Asset Bk Cmmitments Regeneratin prcess, particularly if Assets are integrated with Data Entry r Purchasing. This will need t be dne fr Bk 1 fr each Asset Register. T1Financials_EOY_Planning_dcx

13 TechnlgyOne Financials End f Year Planning INVENTORY Step When Prcedures Pst All Inventry Transactins Ensure all Inventry Transactins are psted. Update Prcessing Grup Prir t perfrming any Inventry functins fr the New Year Perfrm the fllwing: Update the variable value fr Catalgue Maintenance Update the variable value fr Inventry System Maintenance Update the variable value fr Supplier Prfile Maintenance It is likely that these variables are all ne and the same. Nte: TechnlgyOne Financials checks the Inventry System s Prcessing Grup against the Purchasing Prcessing Grup; ensure that they are in sync. Define Financial Perids Prir t perfrming any Inventry functins fr the New Year Perfrm the fllwing: Generate the new years Financial Perids using Financial Perids Maintenance, this needs t be dne fr each Inventry System Nte: If yu are nt currently using Inventry Financial perids, and wuld like t, simply set the variable F1_USE_PERIOD_TABLE t Y Perid End Prcessing Prir t perfrming any Inventry functins fr the New Year Perfrm the fllwing: Statistics and Perid End Prcessing, this needs t be dne fr each Inventry System T1Financials_EOY_Planning_dcx

14 TechnlgyOne Financials End f Year Planning TIMESHEETS Step When Prcedures Establish Timesheet Perids Prir t perfrming any Timesheet functins fr the New Year Perfrm the fllwing: Using Timesheet Perid Maintenance establish the required Perids, these can be generated. Update Timesheet Calendar Prir t perfrming any Timesheet functins fr the New Year Perfrm the fllwing: Using Calendar Maintenance establish the new Financial Perids, these have t be manually entered (the Prcessing Grup is a Specific Value and nt a Variable) T1Financials_EOY_Planning_dcx