Copy of Adding new accounting years and accounting periods in AE

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Accountants Enterprise with Practice Manager only

Each year you must add an accounting year and accounting periods. You must add these before you can enter timesheets or raise bills for the new financial year.

To create your new financial year. select Maintenance > Time Setup > Processing Time Setup.

When adding a new Accounting Year, it is best practice to set up Time Processing Periods for each month as the prior month is ending. For example, on the last week of June, you may set up the Time Processing periods for the month of July.

The following video will step you through creating the new accounting year and the time processing periods for the first month of the new year.

To add a new accounting year

From within AE Practice Manager, follow the menu path: Maintenance > Time Setup > Processing Time Setup. The Processing Time Setup page appears.
On the TASKS bar, click Add/Edit Accounting Year. The Add/Edit Accounting Year window appears.
Click in the new record row and enter a Description, the Start date of the new financial year, and the End date. When finished, press the TAB key on the keyboard.
Click OK to save the changes and close the Add/Edit Accounting Year window.

The new year is now available in the Accounting Year drop-down on the Processing Time Setup page and you can now set up a new accounting period.

To add a new accounting period

From within AE Practice Manager, follow the menu path: Maintenance > Time Setup > Processing Time Setup. The Processing Time Setup page opens.
Select the relevant Accounting Year from the drop-down menu.
On the TASKS bar, click Add Accounting Periods. The Add Accounting Periods window appears.
Ensure all Time Processing Categories are deselected, then click OK. The Time Processing Periods pre-fill, displaying each the period Start and End Dates for each month of the year.

Do not select any of the Time Processing Categories (e.g. Daily or 1 Week). We highly recommend that you set up each time processing period manually on a per-month basis.
By having all periods available for selection when creating timesheets, often leads to timesheets being entered for future periods in error. This can negatively affect your month-end practice reports.

You can now set up Time Processing Periods for the month. See Processing time setup (AE) for details.

To add time processing periods one month at a time

These instructions use the example of adding Daily time processing periods for the month of July.

Follow the menu path: Maintenance > Time Setup > Processing Time Setup. The Processing Time Setup page appears.
Click the expand [+] symbol for July. The Time Processing Category appears for July.
Click in the blank record row, select Daily from the drop-down list and click Add. The Time Processing Category of Daily appears for July.
Click the expand [+] symbol for Daily. A time processing period appears for every day in July.
Click OK.

To setup time processing periods for the entire year

These instructions add time processing periods for the entire year

Follow the menu path: Maintenance > Time Setup > Processing Time Setup. The Processing Time Setup page appears.
Select the relevant Accounting Year, then click Add Accounting Periods. The Add Accounting Period screen appears.
Select the required Time Processing Category eg Daily, Weekly, and click OK. The prompt 'Are you sure you want to add these time processing categories to every accounting period created?' appears.
Click Yes. The Time Processing Periods pre-fill with Start and End Dates for the year.
Click OK.