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

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

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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)

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• Click Yes

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• Click OK

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