From the Utility group on the Accounting tab, select EOFY. The function takes the form of a step-by-step Wizard. We’ll work through the screens one at a time.
This screen will indicate what your current financial year status is, when it was rolled over last, and by which user. Naturally for your first time, it will not have any history. |
The current (unclosed) financial year will be displayed on the screen here. If no dates are displayed then your Conversion Date has not been entered. This must be done from the Preferences screen. Go to Accounting, Setup, Preferences, then select the Opening Account Balances tab and enter the date as at which you converted to Dealerlogic Accounting. (This is not necessarily the physical date on which the conversion was done. Additionally this tab will explain the implications of closing your financial year. Make sure you fully understand them. |
A list of areas you will need to look at and which if invalid, will prevent you from rolling over. |
This tab lists the individual areas that need to be ‘OK’ before a rollover can occur, although in some instances a ‘Warning’ will display that indicates the area should be checked but will not prevent a rollover. Proceed through each area until none display a ‘Fault’. Opening Balance Date This must be present, if not enter it into the Preferences screen. Opening Account Balances An amount must not be entered into the P-40000 (Profit Earned This Year) account. If a value is here, change it to zero. Additionally, it is recommended that the P-20000 account contains a zero value. This means the opening account balances entered were correct. Opening Accounts Receivable Balance The opening balance of the Accounts Receivable account must agree with the itemisation of the Opening Accounts Receivable. If they do not balance, either the itemisation must be corrected, or the opening balance. Opening Accounts Payable Balance The opening balance of the Accounts Payable account must agree with the itemisation of the Opening Accounts Payable. If they do not balance, either the itemisation must be corrected, or the opening balance. Opening Stock, Floorplan & Reconditioning Entries It is strongly recommended these are balanced prior to rollover as no changes can be made to Opening Stock afterwards. There will be occasions when it is not possible to balance, such as where floor plan with Security Deposits is present, so that a Warning will display but will not prevent rollover. Note though that if Security Deposit floorplan does not apply to you, your Opening Stock & Recon should be brought to balance. •Account Totals This button lists all accounts with their Opening Balance, Transaction totals and Cumulative Totals. If there is a discrepancy a Fault will appear. Use the Fix button to reset all account totals. This will eliminate any discrepancies. •Data Integrity Check This is a comprehensive check that looks at all types of transactions and will notify of anything that needs attention. NB: Only when no items list a ‘Fault’ will you be able to proceed with the Rollover. |
You will need to take a backup of your data, and it’s strongly recommended you do so after the preceding steps have been completed. That means you will be backing up the data after all ‘Faults’ in the preceding step have been eliminated. The backup cannot be performed from within this screen – close the EOFY wizard and do a backup in the normal way. Then re-run Dealerlogic and return to the Backup step. You will see the text ‘Backup Available’. Use the large button to Make End of Financial Year copy of backup. This function will take a copy of the backup just done, and preserve it separately to other backup files. If you rollover prematurely or with undesirable errors in your data, the backup can be restored. Note – you will not be able to rollover until the backup is done and copied safely. |
This is the last step and can be taken once all preceding steps are complete. The rollover function itself will be complete within seconds. |