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AccountTECH Year End checklist

Now that a new Fiscal Year has begun, there are a few things you will want to check ore reset for your new business for this year.

Accounting Period
Set your Accounting Period to the current year.  For an article on Accounting Periods, click here
Accounting Period image
Email Campaign Parameters
Some of your email campaigns need to be reset for the current year.  Especially campaigns that send Agent Billing statements to your Agents.  You will want to modify the dates in the Data Source section because these dates control the items displayed to Agents on their statements.
Campaign Email dates
Update Graduated Commission plan levels
It may be that for the current yearyou are going to change the Graduated scale levels for some or all of you Agents. Now would be the time to update the agent profiles:
update graduated splits
if you want to update ALL the levels for ALL the Agents that are on a specific commission plan, use the Update/Insert Levels tool
Insert Levels image
Print out your Year End financials
Now would be a good time to print out a Profit & Loss statement for the company & a Profit & Loss statement for each of your offices. In many offices, the finance department has problems with staff who unpost or modify or add records into the PRIOR fiscal year – even after you have closed the books. (assuming you didn’t lock the period). So print out ad save your financials in case you later see something changed and you are trying figure out why.
Enter your Budget
Preparing a Budget is the best way to see if your income & expenses are on-track. It is simple to do in TransactionPlan.
  • Go to Tools > Manage Budgets
  • Select: the current year, One of your Offices, One of your GL Accounts
  • Click > Load
  • This will show you the numbers already entered for the current year for that Office, for that GL Account
  • Click > the Pencil button to edit these values ( boxes turn grey when available for editing)
  • When you have entered your Budget number for each month, Click > Save
  • Repeat for every GL Account for every Office
 While time-consuming to setup, a Budget is the most valuable tool you will use throughout the year.  Run TransactionPlan report #260 to see your company performance to Budget.
 Budget