GoodX Manage for Medical

The purpose of the year-end is to finalize the current financial year period in order to start a new financial year.

The following steps ensure a smooth year-end:

• Follow the link to change the system date to the last day of the financial Year End to Finish all your accounts and do the Year-End.

Year-end Procedures

• Step 1: Finish all accounts up to the year-end
• Step 2: Backup
• Step 3: Close the Cash Register sessions 
• Step 4: Do a month-end
• Step 5: Reports
• Step 6: Do year-end

Step 1: Finish all accounts up to the year-end

• Make sure that all your transactions until the last day of the financial year are up to date / posted.

TAKE NOTE: The following transactions need to be completed

1. Billing and receipts
2. Bank statement import (financial module users)
3. Creditor invoices (financial and stock module users)

TAKE NOTE: The following functions need to be completed

1. Bank reconciliation and auxiliary cashbook reconciliation (financial module users)
2. Stocktake posted (stock module users)

Step 2: Back-up

• Follow the link to see how to do a GoodX Backup

TAKE NOTE: If you are on the GoodX Cloud, you can skip this step.

Step 3: Close the Cash Register sessions

• Follow the link to see how to end your session 

TAKE NOTE: If you do not use the cash register, you can skip this step.

Step 4: Do a month-end

• Follow the link to see how to do a month-end

TAKE NOTE: If you are on a non-month-end system, you can skip this step.

Step 5: Reports

• Reports can be printed the moment all the transactions for the financial year have been posted. (As required by your Auditors.)

Example:

• Trail Balance period 0 — 12 (make sure the trial balance balances)
• Age Analysis for Debtors & Creditors
  
• Turn Over Report 
  
• Ledgers (only required for the financial module) 
  
• Cashbook (only required for the financial module) 
  
• Income Statement & Balance Statement (only required for the financial module)
• Stock movement per period report (only required for the stock module)

Step 6: Do year-end

• Log into the GoodX Desktop App with your username and password.
• The year-end can be done from the GoodX Manage module for all entities.

• Click on the Multiple Year Updates button.

 

• The Year-end process screen will appear. Choose the financial year that you want to close.

• Right-click anywhere on the screen and choose Select All (if you want to do multiple Entities at once) OR select only the entities that you want to run the Year-end for.

• Once the Entities have been selected, click on the "Run Year-end Process" button at the bottom of the screen.

• A Confirmation screen will appear. 

• Click on the Yes button if the Year-end process can be done.

• Click on the Cancel button to exit without doing the year-end process.

• If clicked yes, an Information screen will appear to tell the user that the year-end process is completed.

• Click on the OK button to continue.
  

How to check if the year-end is completed:

• The user will be redirected to the GoodX Manager main screen.

• Open the Multiple Year Updates again.

• The entities that were in the Year-end process will turn red and indicate when the year-end took place, depending on when the user login and when the year-end happened.

Step 7: Financial year-end report.

• Select the entities that you want to print a report for.

• Click on the Print button to print the Year-end process.

• The Specify Columns To Print screen will appear. The user is allowed to choose what they would like to print.

• The following options will display in the columns that the user can select: 
• Entity: The number of the entity as it was set up on the system.
• Description: The name of the entity.
• Previous yearend: The date when the previous year's end was done.
• Current Fin. Year: The date of the current financial year that is open on the specific entity.
• Select: In the select column, the system will state True or False. True when you have selected the column to print or False when you haven't selected the column to print. It isn't necessary for the user to tick the select box.

• Click on the Next button to proceed.

• The Year-end process report will appear.

• Click on the Print button to print or the Close button to exit the Year-end process screen.

• Click on the OK button to exit the Year-end process screen.

Example of the report without the select column: