NZ - What to do if you run your End of Month Process and Files Update Before 1 April

Overview

If you run your End of Month process and Files Update prior to 1st April, do not complete another Files Update. You have already closed off the month of March.

On the 1st April or the first working day in April, you will need to follow the checklist below to comply with your audit requirements.

Checklist

On the 1st April or the first working day of the month, do not receipt any cash/cheque receipts in REST, do manual receipts if required, as these funds will be banked in April. Make sure the banking is cleared in Cash Book > Banking

On the 1st April or first working day of the month, download the bank statements

Receipt all funds from your bank statement dated up to and including the 31st March only.  Make sure you change the banked date on the receipts and download to the date on the bank statement i.e. 31st March

Perform a Bank Reconciliation reconciling to the current date but change the Date of Bank Statement to 31st March. Make sure the Bank Reconciliation is successful.  Save & Print

Print Trust Trial balance report: Reports > Owner > Trial Balance > Current period

Print Creditor Trial balance report: Reports > Creditor > Trial Balance > Current period

Print Cash book receipts: Cashbook > Cashbook Receipts > Current period

Print Cash book payments: Cashbook > Cashbook Payments > Current period

Print Journals report: Cashbook > Journals Report > Current period

Print all Owner Ledgers including internal accounts: Reports > Owner > Ledger Report > Current period

Print Tenant Ledgers: Reports > Tenant > Ledger/History Report > Current period

Print Creditor Ledgers: Reports > Creditor > Ledger Report > Current period

Print Debit Occurrence Report: Reports > Other > Debit Occurrence > Current period

Print File Changes Report: Reports > Other > File Changes > Current period

Back up your data select: Files > Archive > Backup > Current Data

  • Nominate where you would like the backup to be saved to (USB or hard drive)
  • You must rename the file to End of Financial Year 31.03.xxxx
  • Follow the prompts to complete your backup. Ensure a copy of your backup is kept offsite

File all the reports into a file marked:  End of Financial year 31.03.xxxx

Very Important: Do not run a files update after you have completed this backup.

20/03/2017 9:19 am AEDT

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