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03 6931121FinPower Connect EOY Processing
End Of Year Processing
Stage One - Opening a New Financial Year 2020
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.
In finPOWER Connect go to:
In finPOWER Connect go to:
- Admin
- Entities
- Click on the binocular icon and select the entity by clicking on the 3 dots
- Select the edit (pencil icon)
- Select Accounts page
On both the Account Opening Date and Transactions calendars:
- Check the "BEGIN DATE" and change to 01/03/2020
- Check the "END DATE" and change to 31/03/2021
- Select the Save disc and save changes
This ensures that you can post from 1 March 2020 to 31 March 2021.
The last month of the previous financial year is still open for adjustments.
This needs to be done for all entities.
The last month of the previous financial year is still open for adjustments.
This needs to be done for all entities.
Closing a Financial Year
Stage Two - Closing a New Financial Year 2020
Following the completion of your loans and postings for the 2020 financial year, you will need to close your calendars.
In finPOWER Connect go to:
In finPOWER Connect go to:
- Admin
- Entities
- Click on the binocular icon and select the entity by clicking on the 3 dots
- Select the edit option (pencil icon)
- Select Accounts page
On both the Account Opening Date and Transactions calendars:
- Check the "BEGIN DATE" and change to 01/04/2020
- Check the "DISBURSEMENT DATE" and change to 01/04/2020
- Check the "END DATE" and change to 31/03/2021
- Select the Save disc and save changes
This ensures that you can post from 1 April 2020 to 31 March 2021
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