HHA Associates Limited 15-Apr-16

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Software: emPOWER, finPOWER, finPOWER Connect & fdPOWER

Fact Sheet: Financial Year End Process – 2016

Details: Stage Two – Closing a Financial Year

Introduction

emPOWER, finPOWER, finPOWER Connect, fdPOWER When all transactions for your financial year to 31st March 2016 have been entered, it is a good practice to close the calendar to ensure no further entries are keyed with incorrect dates.

Process

Process for emPOWER After finalising your 31st March 2016 ensure all Accounts Payable and Accounts Receivable invoices credits and payments/receipts have been entered. Complete your bank reconciliation and GST, then close the calendars and run reports. Go to Tools, Global Options, Calendar On the General Ledger change the “Closed To” date to 01/04/2016 On the Accounts Payable and Accounts Receivable calendars, change the “Closed To” date to 01/04/2016 Please tick, enforce General ledger dates.

Click Apply & OK

Revise EOY Transfers In the lower left-hand corner of your emPOWER screen you may have a message requesting you to check your End of Year status.

To clear this message & revise the End of Year Transfers: Go to Process, Year End, Revise EOY Transfers. Ticks will automatically appear in the “revise column” for years that require the process to be run. Click OK When the transfers are complete, the screen will refresh and no ticks will be present. If it does not, you need to contact your HHA support person; you may have an account set up incorrectly. This process can be run as many times as required, should the calendar have been reopened. Close the window by clicking the X or cancel and sign out of emPOWER and log on again. The message at the bottom of the screen should have disappeared.

HHA Associates Limited 15-Apr-16

i:\hhsoftware\accounting\empower\fact sheets\month end & eoy\stage two - eoy process 2016.docx Page 2 of 2

Process for finPOWER Following the completion of your loans and postings for the 2016 financial year, close the calendars. Go to Tools, Global Options, Calendar Change the “Closed To” to 01/04/2016 Check the “Open To” date is 31/03/2017

Process for finPOWER Connect V1 and V2

Following the completion of your loans and postings for the 2016 financial year, close the calendars. Go to Admin, Entities, Options, click on binocular icon and select the entity by clicking on the 3 dots. Select edit option (pencil icon) Select Accounts page (or Options if Accounts page not available) On both the Transactions & Accounts calendars: Check the “Begin Dates” & change to 01/04/2016 Check the “Disbursements” date & change to 01/04/2016. (If applicable) Check the “End Dates” & change to 31/03/2017 Select the Save disc.

Process for fdPOWER Following the completion of your arrangements and invoicing for the 2015 financial year, close the calendars. Go to Tools, Global Options, Calendar Change “Closed To” to 01/04/2015 Change the “Open To” date to 31/03/2017

If you encountered any difficulties or have any queries regarding this process, please contact our Help Desk on 03 693 1121 option 1