Summary

Please view the following information below to assist you with your End of Calendar Year Finance needs including a FREE Webinar on Synergetic: End of Year Finance on the 10th of November and 5th of December as well as commonly used knowledge base articles.
 

Method

The following tasks should be undertaken as required:

Below each check point item are links to helpful KB Articles that may be of assistance

• Create the New GL Year 

Create Next Year General Ledger

• Set up the Budgets for the new year 

Importing general ledger budgets
Using Pro Rata Budgets
Approving budgets

• Run Asset Depreciation and End of Year Update 

Running asset depreciation calculations
How to Dispose of Part of an Asset
How To Fully Depreciate An Asset

• End of Year Student Rollover Process 

End of Year Rollover Process

• Auto Tuition Run for the New Year (once student rollover process has been completed) 

End of Year - Auto Tuition

• Create new Debtors for New Students

Adding debtors in bulk

• Create Next Year Payment Plans (for schools using the Community Portal Payment Plans program)

Creating next year payment plans

• Archive any Debtors with no current or future students and a zero balance

Writing off Debtor Bad Debt - Clearing Debtor Balances
Refund a Debtor with a Credit Balance
Bulk Archive Debtors

• Archive any Unused Creditors 

Archiving creditors in bulk

• Maintain Unused Purchase Orders. Purchase orders will remain a commitment against a budget, now is the time to review all Partially Filled Orders and amend accordingly

Completing purchase orders
Cancelling orders

• Perform a stocktake on Inventory

Stocktaking items

Considerations

Only two General Ledger years can be active at one time. By creating the new year the current year and the new year will be the active years. For example, creating 2022, will mean that 2021 and 2022 are the active years, shutting out 2020.

As Support is at its busiest in January and February it is best to sort out these issues as early as possible so that they can be actioned before the busy period.