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AE Practice Manager year-end process

This support note applies to:

  • AE Practice Manager (NZ)
  • AE Practice Manager (AU)
Article ID: 32415

Add your accounting year before entering timesheets or creating bills for the new financial year.

The year-end procedure is a simple process:

  • You have one mandatory step to complete; adding a new accounting year and related tasks.

  • You also have some housekeeping tasks which are optional. These are to tidy your system for the new accounting year.

Mandatory end of year processes

Setting up your new financial year has three components:

  1. Add a new accounting year.
  2. Add accounting periods.
  3. Add time periods.

To create your new accounting year and periods, see: Adding new accounting years and accounting periods.

Optional end of year processes
Step 1—Close the Accounting Period

It's a good idea to close the June accounting period before running any month/year-end reports.

If you don't produce your tax reports for your BAS from AE Practice Manager, you don't need to close the tax period. You can't reopen closed tax periods.
Step 2—Roll forward jobs

To help save time and improve forward planning, you can roll forward jobs for the new month, quarter or year.

Step 3—Review Task Codes

Review your current task/activity codes to add new ones or deactivate ones no longer used.

Step 4—Review Employees

Review your current employee list and close any employees no longer with your firm. Also, add any new starters.

Step 5—Review Employee Charge Rates

Review and update employee charge rates for the new year. Enter these in advance by adding an end date to your charge rate type and adding the same charge rate type with the new start date and amount.

Timesheets entered before the new charge rate is added won't use the new rate, so it's important to set up new charge rates in advance.

All timesheets must be posted before an existing cost rate is changed, as the cost rate itself isn't date driven.

Step 6—Review Employee Budgets

If you're using employee budgets, enter them for the new accounting year.

Step 7—Review Assignments

Review your current assignments and close any which aren't needed any more.

Assignments with unbilled WIP cannot be closed but the status can be set to Held to prevent further timesheet data entry against them.

You can also create new assignments for the new year.

Step 8—Review Billing Paragraphs

Review your billing paragraphs and update any year reference in your standard text.

Step 9—Close Clients

Close any clients that you longer act for.

Step 10—Year End Reports

The reports run at year-end should be the same as those run at the end of each month.

To run standard or custom reports that have been saved as favourites:


  • In the toolbar, click the Reports drop-down and choose Favourites > Practice Favourites Reports Sets > Month End Reports
  • Alternatively, in the toolbar, click the Reports icon and select the relevant report area and sub-area to run the reports you need.

If your practice needs a list of unbilled WIP entries per client as at 30 June, you may need to Creating reports/run reports from one of the following areas:

  • Employee Activity
  • Current WIP by Client
  • Current WIP by Assignment
Reports from these areas detailing the unbilled WIP entries need to be run before posting any July timesheets and bills.
Step 11—Other Tasks (if applicable)

If you're using assignment schedules, you may need to create new schedules for the new accounting year. The document Assignment Budgeting and Workflow provides full details on creating new assignment schedule templates (page 5) and rolling forward schedules (page 32).



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