Switching the financial year

Arbor Finance allows you to switch between financial years. This means that you can view all data from an earlier year, create reports and, if the year has not yet been "closed", post certain transactions.

To avoid posting corrections in the wrong financial year, it is recommend that all Arbor Finance Online browser windows are closed, and only one RM Finance Online browser is open prior to switching the year.

Related Videos:

• Switching to the Previous Year

To switch the financial year

1. From the System menu choose Switch the financial year.
2. The Switch financial years pop up is displayed. Select the year you wish to view and then the Switch button.
3. You will now be redirected to the Arbor Finance home page, but with the addition of a coloured border to highlight that you are no longer working in the current financial year. The information box in the top right corner changes to Period 13 of the selected year.
   
4. All pages will also have a coloured banner adjacent to the title.
   
   

Making changes in different financial years

You can make changes in the current year, and the previous financial year if it has not been closed.
Once the previous year has been closed, you can make no further amendments to it.

The changes that can be made in the previous financial year are restricted as follows:

1. Records screens are accessible, but you cannot Add or Edit any records. Records can be deleted, subject to the standard rules of the records (e.g. Budget accounts can't be deleted if they have been used).
2. Permitted transactions can only be made in Period 13, so the System records menu: System setup is disabled. This is the equivalent of posting in Period 12 of a previous year when using the old application. Posting in Period 13
3. These screens are not accessible:
   • New order
   • Express order
   • Amend/Process order
   • Reconciliation and Unreconcile
   • View/Post batches
   • System setup (all screens)
4. Enquiries and Audit log screens operate independently of the selected financial year so at all times you can view transactions and logs from different years by selecting appropriate dates.

Returning to the current financial year

When you are working in a different financial year, an additional option appears in the System records menu: Return to latest year. 

After returning to the latest financial year, it is recommended that all additional Arbor Finance Online browser windows are closed, to avoid posting in the wrong year.

Additionally, if your session ends, you will return to the current financial year when you log back in.