Making changes in previous financial years

Arbor Finance allows you to make changes and post certain transactions in previous financial year(s) if they have not been closed. These will be posted in 'Period 13'.  To make these changes you must switch between financial years using the option in the System menu.

Changes which can be made

The changes which can be made in past financial years 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 Options button is disabled.
3. These screens are not accessible:

• New order
• Express order
• Amend/Process order
• Reconciliation and Unreconcile
• View/Post batches
• System setup (all screens)

4. Records and balances in the previous year will be updated as normal. Records and entries in the following (current) year will be updated as follows (depending on transaction type):

• Create a new mirrored 'URC' (unreconciled) transaction for all transactions made in the previous year.
• The URC transaction in the current year will mean any records related to the transaction (Funding streams, Cost centres, Income sources / Suppliers, Analysis codes, Budget accounts) cannot now be deleted.
• Update the 'VAT' balances for Income and Expenditure transactions.
• For Accrual transactions
  • Update the Year and Month balances for Budget accounts
  • Update the Year and Month Nett turnover values for Analysis codes
  • Update the Spend in Cost centre and Funding stream entries.
• For all transactions
  • Update the whole school Brought forward values
  • Update the individual bank Brought forward values
     

5. 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.