Complete these steps to close off the financial year and move processing into the new year.
Finish everything before you roll over
Once a period is locked and the year is rolled over, you can't process transactions in the closed period. For example, receipt adjustments for transactions that occurred in a closed period can't be backdated and need to be recorded in a current or future period.
Some reports can only be produced for the period you're in. Once you've rolled over, you can't go back and print them for the closed.
Complete your processing and print the required reports before you roll over the period.
Step 1: Set up the new financial year and timesheet periods
Go to Maintenance > Periods and check that the financial period for the new year exists. If it doesn't, create it.
Go to Maintenance > Timesheet Periods and check that the timesheet periods for the new year exist. If they don't, create them.
Step 2: Complete and post all transactions for the period
Complete all timesheets, disbursements, adjustments, fees, credit notes and receipts for the month.
Print the Pending Transactions Listing and post any unposted entries.
Reconcile your general ledger receipts and invoices to Practice Management.
Run Update Figures and lock the periods.
Step 3: Print your year end reports
Some reports can only be produced for the period you're in. Once you've rolled over, you can't go back and print them for the closed.
Required reports
Print these before you roll over the period:
Debtors Control Periodic
WIP Control Periodic
Debtor Statements
Aged Debtors Analysis for Period 180
Aged WIP Analysis for Period 180
Optional reports
You can print the following reports for a date range when they're needed, including after rollover.
Debtors Ledger
WIP Ledger
Employee Analysis / Stats / Productivity
Overhead Summary
Activity Analysis
Debtors Transaction
WIP Transaction
Employee Summary
Task Summary
Step 4: Roll over the period
Go to Processing > Period Rollover and select Proceed.
