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May 2015 - last edited June 2015 by AlistairNestor
I’m Tim Courtney, the new marketer looking after BankLink. Part of my role will include contributing to this forum regularly to keep you in the loop about all things BankLink.
To kick things off, the following information addresses varying aspects of the EOFY rollover process, depending on how you use BankLink Practice.
EOFY Process for MYOB BankLink clients
If you use BankLink for Financial Reporting then running the Year End Balances Wizard is advisable after all data (transactions and coding) have been entered and processed for the prior financial period. The wizard will close the income and expense accounts, enable allocation of profit/loss to a retained earning account, allow year-end adjustments to be processed, and establish now opening ledger balances for the new financial year.
It is an easy process to run in BankLink Practice and fairly user friendly (located via DATA ENTRY > YEAR END BALANCES) – Opens the Wizard
If you use BankLink as a data processing tool and export coded information into a General Ledger System for financial reporting then the best EOFY practice would be to:
It’s a good time to tidy up the BankLink Practice system by reviewing the following:
If you have any questions around BankLink and EOFY, please ask away in the comments section below.