emPOWER EOY Processing

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Stage One - Opening a New Financial Year
Prior to the beginning of April (for financial year ending 31/03/2019), a new financial year will need to be opened, below are instructions on how to do this.  For assistance contact our Help Desk on 03 693 1121 option 1.

In emPOWER go to:
  • Tools
  • Global Options
  • Calendar
  • In the 'Year' column, check if 2020 is showing
To add in the 2020 year click on the Insert Year at End button and the 2020 year will display as shown.

Change the General Ledger "Open To" date to the end of the new Financial Year (31/03/2020).

Update the Accounts Receivable & Accounts Payable "Closed To" dates to the first day of your current accounting month, eg. 01/03/2019.  Click Apply and OK.
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Stage Two - Closing a Financial Year

When all transactions of year end 31 March 2018 have been entered, it is good practice to close the calendar to ensure no further entries are keyed with incorrect dates.

After finalising your 31 March 2019 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.

In emPOWER go to:

  • Tools
  • Global Options
  • Calendar
  • On the General Ledger change the "CLOSED TO DATE" to 01/04/2019
  • On the Accounts Payable and Accounts Receivable change the "CLOSED TO DATE" to 01/04/2019
  • Tick, enforce General Ledger dates
  • Click Apply and OK
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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.
emPOWER EOY Transfers
To clear this message and revise the End of Year Transfers go to:
  • Process
  • Year End
  • Revise EOY Transfers
emPOWER 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 this does not happen you will need to contact the team at HHA as 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.
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