AO Practice Manager year-end process

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

• Closing employees/making employees inactive
• Creating a new employee

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.

Any timesheets entered before the charge rate is changed won't be updated to 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.

• Editing/changing employee charge rates
• Changing or updating employee cost rates

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

• Entering Employee Budgets (AO)

Review your current jobs and create new ones for the new year. To help save time and improve forward planning, you can roll forward jobs set up in Job Manager for the new month, quarter or year.

• Adding jobs (AO)
  
• Adding a non-chargeable job to the non-chargeable client
• Setting up Job Type Templates
• Rolling forward jobs

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

• Creating a new task code for timesheet/disbursement data entry
• Preventing old task codes displaying in timesheets

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

Close any clients that you longer act for.

• Closing a client

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

• Closing and reopening accounting periods

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

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

Either:

• 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 the financial year-end, 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, as at the financial year-end, will need to be run before posting July timesheets and bills.

• KB 31547: Preparing for the new financial year in Document Manager