End Of Financial Year
End of financial year requires the same action as a normal end of month - Close of Period after all transactions for the month have been recorded.
The Trust Accounting Reports menu contains the Financial Summary and Financial Details reports. These can be emailed to multiple owners at the same time. The information on these reports is grouped based on Close of Period history. It is recommended to send these reports only after reviewing them.
Note that only active ledgers are included in these reports. If reports are required for any ledgers which have been archived they need to be restored first.
Email Template for Financial Summary Report
A template for the email can be created under Correspondence templates and be applied to the email. This can be done by accessing Settings > Communications > Template > Financial Summary report master template, you can now make any changes required and select save
Financial Summary Reports
The Financial Summary Report is recommended as a Financial Year summary and can be emailed to multiple owners at the same time. If your close of period has not been performed every month some columns will be empty, if this is the case you might prefer to use the Financial Details Report instead.
This report can be accessed by selecting the Trust Accounting heading on the Reports menu.
Set the reports criteria at the top of the page, and then either generate to screen, print to pdf (see optional landscape pdf), export to CSV or email. It is suggested the reports are checked before emailing.
1. Select which owners you would like to include in the report
The Report is divided into 3 sections - Income, Expenses and Profit analysis.
Any excluded transactions will be listed in the screen preview and not included in the downloaded or emailed reports.
Please note that if you have raised any credit notes towards Income/Expense Invoices, these will not appear on the Financial Summary Report.
Individual invoices can be edited to update the chart of account used if mistakes are found by clicking on the listed amounts to see a breakdown of the invoices included and by selecting the edit button the invoice, making the required change and selecting save.
It's also recommended to investigate any negative amounts that appear within the report.
If Email is selected, all owners included in the report criteria will receive their Financial Summary reports as a single PDF for all properties.
If you have owners who are POST- please click on the Print as PDF- the screen will refresh & then you you to select the orange PRINT as PDF button.
The email is sent as per below: