Quick Guide to End of Year Success!

      No Comments on Quick Guide to End of Year Success!

It’s that time again – Year End Routine

Each year we receive many support calls from FundsMaster users concerned about carrying out the End of Year or Year End Routine function.  Most worry that they will either lose or damage their data. Some are simply unsure of what the routine actually does and/or assume that it is a highly complex procedure. This post will hopefully answer any questions you have about it.  In truth, it is very simple.

3 step picture to Year End Routine

Remember – there is nothing to fear about the end of year!

**The most important step before carrying out the end of year routine is to backup your data**

We recommend taking backups on 2 separate USB drives.  Once you have done this, there is nothing to worry about. You always have the option to restore your data back to its pre-End of Year Routine state.

Q:           What does the End of Year Routine do?

A:            The End of Year Routine deletes all reconciled credits, debits and Inactive Funds (Funds no longer required in the Next financial year). It transfers the current balances on your bank account/s and funds to the opening balances for the new financial year and automatically advances the dates of your financial year. Any unreconciled credits or debits are carried forward and the final balances in the inactive funds are transferred to the School Fund.

A more detailed explanation of the Year End Routine Routine can be found on page 40 of the FundsMaster manual located on your FundsMaster CD.

The End of Year Screen has 3 checks to confirm you are ready to click!

If you are still unsure of any aspect of the End of Year Routine, please call  0845 345 1002.  I or any of my colleagues will be happy to answer any questions.

Alternatively Email Us Now!

Leave a Reply

Your email address will not be published. Required fields are marked *