Page Comparison

1. Close year option

From the estate record:

• Click Charges/Budgets
  

• Click Close Year

2. Close Financial Year screen

• Close financial year ending date defaults to the end date of the current year - but can be changed where required
  
  When invoices haven't been raised to the financial year end date, red text will indicate this - see 2a
  

• Outstanding invoices in year are identified - see step 3
  

• Tick Show paid invoices to include paid invoices in the list
  

• The Balance Sheet and Income & Expenditure report for the current year can be viewed below
  
  Any changes made to the outstanding invoices will be immediately reflected in the reports shown

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2a. When invoices

haven’t been raised to the specified financial year

Red text will indicate this

• Hover over

• the red text to display more information
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3. Action outstanding invoices

Any outstanding invoices need to be actioned before the year can be closed

From the Action column, click Select for options available for the selected invoice:

• Ignore
  Use when the invoice can be ignored at this point - it can then be actioned by users (with appropriate permissions) after the financial year is closed

• Change invoice date
  Allows you to forward-date the invoice as needed
  Date defaults to the start of the next financial year

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  • Enter new invoice date, click Accept

• Credit invoice
  If you do not need to pay the invoice, a credit can be applied

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  • Enter credit note description, click Accept

• Post expense to next financial year
  Allows you to post as a prepayment into the next financial year
  This is the same as the process covered here: Dealing with prepayments / journal transfer

• An option to ignore or credit in bulk is also available

  • Right-click over Select for options

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• When all outstanding invoices have been updated, the Action column will display all chosen actions:

4. Close financial year 

Once all outstanding invoices have been actioned (as described in step 3) the financial year can be closed

When ready to close the selected financial year:

• Click Proceed (top right)

  

• Click Yes

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• Click OK

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