2a) Debtors Rollover - Web

Geoffrey Whiting
Geoffrey Whiting
  • Updated

End of Year 2023 - Debtors Rollover - Web

Points to note - IMPORTANT INFORMATION

FOR NON HOSTED SCHOOLS – CHECK WITH YOUR IT DEPARTMENT THAT THERE IS SUFFICIENT SPACE ON THE SCHOOL’S SERVER BEFORE COMMENCING THIS PROCESS. IT IS SUGGESTED THAT THERE BE 100 GB OF SPACE.

If you are using FACTS API please contact support before starting this process.

Make sure your Curriculum/Scholastics has been rolled over.
Make sure you are in the last period of your Debtors before rolling

JANUARY RECEIPTS-
Receipt batches CANNOT be entered in advance and pended to 2024 from the Debtors module
(eg entering receipts dated January and pending batch when Debtors has not been rolled into 2024).
Receipt batches for January can only be pended to the ledger for 2024 (if the ledger is still in 2023), once debtors end of year has been completed.

For New Zealand Government Schools using Sundries only refer to the End of Year 2023 – Debtors Rollover – Web – For NZ Schools using Sundries only.


What EOY rollover does:

A snapshot of the workarea is created so previous years details can be accessed.

Receipts for previous year are kept and rolled into period -1.

You can access any of the prior years transactions by going into the snapshot under datamining.

The end of year rollover replaces the end of period routine for the final period of the year.

 

Step 1 – Printing all reports and checking data

1 Enter all receipts from your Bank Statement to 31 December 2023
2 Ensure that all account adjustments have been processed (discounts, write-offs)
3 Finalise all debtor billing and receipt batches.
4 Balance your Bank Reconciliation, as once rolled, you cannot make changes to receipts by unfinalising batches.
5 Run Debtor Reconciliation report. Ensure that there is $0 variance. Save to PDF
6 Run Aged Debtors report. Save to PDF
7 For schools running Sundries, run sundry reports. Save to PDF.
8 Mandatory – run Debtors Transaction listing. Save to PDF.
9 Mandatory – run Family Based Debtor report. Save to PDF.
10 Check your Trial Balance is balancing before continuing.
11 Generate and save Family Accounts. Email Family Accounts. 

 

Step 2 – Make sure that you are running version 2023.12.15 or later.

FACTS School Management Downloads and Change Log – FACTS School Management (factsmgt.com.au)


Step 3 - If using the Payment Portal

Stop receipts being automatically receipted.

Path: PORTAL ADMINISTRATION > PAYMENT PORTAL SETUP

Click [Save] button at the bottom of screen.

Step 4 - Ensure everyone is logged out of FACTS School Management

Make sure everyone is logged out and not using FACTS before continuing to the next steps.


Step 5 – Create a Debtors Backup

Path: DEBTORS OVERVIEW > HOUSEKEEPING > BACKUP/RESTORE DEBTORS

Then click on [SELECT ALL] button. This will push all the tables to the right-hand side of the screen.

Click [EXPORT] button.

You will then get a box asking for a “Reason for Backup/Restore”.

Type in “EOY Debtors Rollover” then click [SAVE] button.

This file will save to your Downloads area.

Note - This process may take some time depending on the size of your school, number of families and other debtors.

Note - You can then save this file to another location (this is up to the school. You may save it in the same way you save your end of month backups).

 

START OF ROLLOVER PROCESS

Step 6 – Create a Database Snapshot

This is a copy of your database so you can refer to at any time.

Path: DEBTORS OVERVIEW > HOUSEKEEPING > DEBTOR END OF PERIOD.

*If CREATE DATABASE SNAPSHOT and PROCEED END OF YEAR buttons ARE NOT on screen -  DO NOT PROCEED WITH THE ROLLOVER
1) Review the version the system is running to ensure it is V2023.12.15 or higher
2) Check EOY is ticked under the final period for the year (under Debtor Overview > Master Codes > Debtor Periods)

3) If the above action/s have not resolved the issue, contact the helpdesk for assistance.

Screen Overview - 

Current Period – this should be the last period of your school’s debtors setup. If it is not, the previous end of period has not been completed. This will need to be completed before continuing.

Next Period – will be the first period of your school’s debtors setup.

Process Date – change to 31/12/2023

Options – explanations are as follows. 
We do not recommend actioning any options if you would like the snapshot workspace to reflect the transactions in the current live database.

1

[Reset Account Messages] - 

Tick to remove special messages, other than 0 or 10, that you may have tied to group

Remove tick to retain special messages.

2

[Clear Voluntary Donation History] – 

DO NOT tick as this will preserve the history of all donations received by the students/families.

3

[Clear Family Rebates] - 

Tick if rebates are setup in this area and you wish to clear and re-enter all rebates in the new year

Remove tick to keep the existing details in the Account Master File

4

[Clear Bursary File] - 

Tick if special concessions are set up in this area and you wish to clear and re-enter all special concessions in the next year

Remove tick to keep the existing details in the Account Master File

5

[Clear Finalised Pay Plans] - 

Tick to remove all finalised pay plans in readiness for next year’s payment plans against families.

6 [Clear Zero Deposits]
7

[Clear Finalised Prior Year Invoices] - 

Tick to clear the file of any fully paid invoices in readiness for the next year.

Remove tick if you do not want the entries to be deleted.

8 Consolidate Debtor Invoices to Balance Forward - for creating a snapshot select
“Ignore this option”

 

Click on [CREATE DATABASE SNAPSHOT] button. This will take a copy of the database as it stands today.

This will take you to the page to Name the snapshot. 

For Debtors – the Snapshot DB Name will default to the current year actioned (eg DEBTDATA2024).
IMPORTANT - Change to DEBT2023.

Then click on [START SNAPSHOT] button.

Once successfully completed you will get 2 ticks for Backup & Restore. You will also get a message saying “The database snapshot has been created please click EXIT to close the model”.

Click on [EXIT]

Note - you can view your snapshot file in datamining. The naming convention will be DEBT2023_YYYYMMDD_MMHH AM or PM. This is the date and time the snapshot was created.


Step 7 – ROLLOVER

Path: DEBTORS OVERVIEW > HOUSEKEEPING > DEBTOR END OF PERIOD

Note - you may wish to change the Process Date to 31/12/20XX as this will be the date on the Debtors Accrual Batch.

Current Period – this should be the last period of your school’s debtors setup. If it is not, the previous end of period has not been completed. This will need to be completed before continuing.

Next Period – will be the first period of your school’s debtors setup.

Options – explanations are as follows. Most selections are optional. Select the same settings as in Step 6.

1

[Reset Account Messages]

Tick to remove special messages, other than 0 or 10, that you may have tied to group

Remove tick to retain special messages.

2

[Clear Voluntary Donation History] – RECOMMENDED

DO NOT tick as this will preserve the history of all donations received by the students/families.

3

[Clear Family Rebates]

Tick if rebates are setup in this area and you wish to clear and re-enter all rebates in the new year

Remove tick to keep the existing details in the Account Master File

4

[Clear Bursary File

Tick if special concessions are set up in this area and you wish to clear and re-enter all special concessions in the next year

Remove tick to keep the existing details in the Account Master File

5

[Clear Finalised Pay Plans] - RECOMMENDED

Tick to remove all finalised pay plans in readiness for next year’s payment plans against families.

6 [Clear Zero Deposits]
7

[Clear Finalised Prior Year Invoices]

Tick to clear the file of any fully paid invoices in readiness for the next year.

Remove tick if you do not want the entries to be deleted.

 

Consolidate Debtor Invoices to Balance Forward –
Consolidates invoices to create a single line for the total amount outstanding on the Account Master (eg balance brought forward).
a) Creates a new charge and moves the debt from the current aging period into the "Current" month."
b) Removes the ability to get a clear breakdown to what billing specifically relate to along with the date issued.  Breakdown of prior year transactions can be viewed on the prior year workspace.

Select “Ignore this Option”- to show outstanding charges separately.

Explanations are as follows.

1

[Ignore this Option] - 

All transactions will be brought forward.

2

[Retain Cost Centres] per debtor. This will consolidate outstanding transactions to one amount for each Cost Centre used, for example, if a debtor owes 3 transactions for tuition fees they will consolidate to the 1 transaction for tuition fees.

Note:  All invoices within the family will consolidate to one Student e.g. you have charges for Smith T, Smith B, and a new Student rolling in as Smith A – after the Scholastics rollover the student the system will use is SMITH A

3 [Create a Single Cost Centre] per Debtor, this will consolidate all outstanding transactions, regardless of the cost centre, to either the one cost centre with GST or one without GST, the two cost centres will be required whether or not GST is applicable.

 

Zero Balancing Transactions - This should be Ticked at the End of Year Rollover to remove any debit and credit entries that balance to zero.

These transactions can still be accessed through the snapshot that is created.

Click on [PROCESS END OF YEAR] button.

You will get a confirmation button to confirm that you have created the snapshot.

Click [OK].

 

Debtors Accrual Batch will be created for you to close into current year in Ledger.

Finalise Debtor Accrual batch to post figures to the ledger to current year (Period 12)

Path: LEDGER OVERVIEW > TRANSACTION ENTRY > DEBTORS ACCRUAL

 

Step 8 – Debtor Periods

Path: DEBTORS OVERVIEW > MASTER CODES > DEBTOR PERIODS

Check that the current year is 2024 and the prior description is 2023.
If these need updating - click on the pencil icon (to the left of the screen) and change manually.

 

On the right hand side of the screen update

Year Range Description = 2024

Previous Description = 2023

Click on [UPDATE] button.

You will need to repeat this step for each line.

 

Step 9 – Important Actions / Checks Immediately Following Rollover

a) Check to make sure you are in the correct period in Debtors by viewing the following - 
Debtors Overview > System File Maintenance > Current Debtor Period
This field will show the current period in the debtor module.

 

To confirm this is the first period for your school as per system setup, enter into - 
Debtors Overview > Settings/Housekeeping/Codes > Master Codes > Debtor Periods

This may be period 1 or another description depending setup, example 12 months or termly etc.


 

b) Run a Debtor Reconciliation report. Ensure that there is $0 variance.

c) Run an Aged Debtors Report and make sure it still aligns with report printed at the beginning of the process.

d) Account Alert under Health Check (Portal Administration) -
Review Health Check > Health Check Group - Account Information - for the below alert -

If this does not show on screen - click on


If this shows on screen - 
Spot check opening and closing balances for a selection of accounts by comparing transaction listings from end of 2023 and in new workspace for 2024.

To correct any errors - click on view and OK to update balances as per the below message - 

This will correct any balance issues - for confirmation - spot check a few account opening/closing balances on transaction listings.

For more information on Health Checks, including security permissions, click here to read the article - Health Check


ROLLOVER COMPLETE

OPTIONAL UTILITY FUNCTIONS
Prior to actioning any of the below, take a post rollover backup.

 

Step 10 – Absorb Debtor Credits     (optional - *unless using Facts Tuition)

Path: DEBTORS OVERVIEW > HOUSEKEEPING > DEBTOR END OF PERIOD

Tick [UTILITIES ONLY]

Tick [Create Ledger Accrual Batch]

Consolidate Sundry Transactions – radio button next to [Ignore this option] will be selected

Held Deposit Import – radio button next to [Debtor] will be selected

If you have a lot of families with zero balances but are still showing old transaction or want to absorb all credits.

All selections are optional. Your school must decide what options you wish to perform.

As this is an automated process you cannot be selective on what transactions the credits are applied to or which families are processed.

NOTE: If you have Tuition fees and sibling discounts you should link your cost centre to the tuition fee - (this will then apply the sibling discounts off tuition fees first). and run option 5 first before running other options.

1 Absorb Credits in Date order
  • Credits are applied to transactions in date order.
2 Absorb Credits by Discrete Cost Centres Groups By Campus.
3 Absorb Credits in Cost Centre/Date Order.
  • Credits are applied to transactions in cost centre order followed by date order.
4 Absorb Credits in Cost Centre/Date Group by By Campus
5

Absorb Credit Based on Linked Cost Centres and Selected Period

If you have Tuition fees and sibling discounts you should link your cost centre to the tuition fee - (this will then apply the sibling discounts off tuition fees first)  run this before then do the credit uptake as below.

 

Click [Process Utilities] button

Process Complete will appear at the bottom of the screen. Click [Close]

Repeat process for each cost centre, cost centre range and selection.

Finalise Accrual Batch

PATH: Ledger Overview > Transaction Entry > Debtors Accrual


Step 11 - Consolidate Sundry Transactions (optional)

Path: DEBTORS OVERVIEW > HOUSEKEEPING > DEBTOR END OF PERIOD

Tick [UTILITIES ONLY]

Tick [Create Ledger Accrual Batch]

Absorb Debtor Credits – radio button next to [Ignore this option] will be selected

Held Deposit Import – radio button next to [Debtor] will be selected

All selections are optional. Your school must decide what options you wish to perform.

Only one selection at a time can be processed.

1 Consolidate to a Single Invoice per Student within Debtors Proper
  • This will create one GST and one non GST invoice within Debtors, for all the outstanding sundry debtor charges for each student.
  • Sundry charges will be deleted on creation of the invoices per student within the Debtors proper.
2 Consolidate to Bal Forward for each student within Sundry Debtors
  • This will create one GST and one non GST b/fwd invoice within Sundries for each sibling within a family, for all their outstanding sundry debtor charges.
3 Transfer paid transactions to Voluntary Payments
  • Specific paid cost centres in sundries can be transferred to the Voluntary Payments area, eg Building Fund Donations.
4 Delete Transactions with a Zero Balance
  • This will tidy up the sundries area by deleting all fully paid transactions from the system.
5 Consolidate to a Single Invoice within Debtors Proper
  • This will create one GST and one non GST invoice line within Debtors proper, for all the outstanding sundry charges for each family.
  • Sundry charges will be deleted on creation of the invoices within the Debtors proper.
6 Consolidate to Bal Forward within Sundry Debtors
  • This will create one GST and one non GST b/fwd invoice within the Sundry Debtors, of all the outstanding sundry charges for each family.
7 Consolidate Sundry Based on Linked Cost Centres
  • This will consolidate sundry transactions based on a linked cost centres.
8 Transfer paid transactions to Held Deposits/Homestay
  • Specific paid cost centres in sundries can be transferred to the Held Deposits / Homestay area.
9 Delete Transactions regardless of balance
  • Be careful of this selection.
  • This will delete sundry charges regardless of balance.

 

When consolidating

1

You will need to nominate two cost centres.

  • [Cost Centre to Use where NO GST Charged] for consolidating transactions with no GST.
  • [Cost Centre to Use where GST Charged] for consolidation transactions with GST.

 

Note: Separate Cost Centres are necessary if any invoicing contains GST. These Cost Centres must have a posting account with the appropriate GST class and GST rate.

 

  • Otherwise, select the same cost centre for both options if invoicing contains no GST component.
2 Select the [Cost Centre] From and To;
  • If your range of cost centres is not consecutive you will have to repeat this process for each cost centre or range of cost centres.
  • Check to make sure you have the correct cost centre selected.
  • Any cost centres not selected will not be consolidated.
3 Charges up to and including
  • Enter the Date – if you are doing this after the end of the year, this is usually the final date at the end of the current financial year eg 31/12/2023
  • Any invoices after the selected date will not be consolidated.

 

Click [Process Utilities] button

Process Complete will appear at the bottom of the screen. Click [Close]

Repeat process for each cost centre, cost centre range and selection.

Finalise Accrual Batch

PATH: Ledger Overview > Transaction Entry > Debtors Accrual


Step 12 – Held Deposit Imports (optional)

This process can be run at any time. It does not have to be done at year end.

This process is a quick way of transferring amounts out of held deposits to either the family debtor account or sundries.

Path: DEBTORS OVERVIEW > HOUSEKEEPING > DEBTOR END OF PERIOD

Tick [UTILITIES ONLY]

Tick [Create Ledger Accrual Batch]

Absorb Debtor Credits – radio button next to [Ignore this option] will be selected

Consolidate Sundry Transactions – radio button next to [Ignore this option] will be selected

Tick box next to [Import Held Deposits]

Select the radio button next to [Sundry] if you wish the held deposits to be transferred to Sundry Bal on the family account or [Debtor] if you wish the held deposit to be transferred to the family debtor account.

Select Year Level

If there is a specific date range of transactions enter [From Date] and [To Date]. If you wish to pick up all transactions, leave the date range blank.

Click [Process Utilities] button

Process Complete will appear at the bottom of the screen. Click [Close]

Repeat process for each Held Deposit Cost Centre.

Finalise Billing Batch

PATH: Debtor Overview > Billing & Receipting > Manage Billing Bathes


Step 13 – If using the Payment Portal

Turn the payment portal back on.

This will start the automatic receipting being automatically receipted.

Process any receipts received in the meantime.


Step 14 – Processing after the rollover is complete

If your General Ledger has not been rolled (ie the General Ledger is still in 2023)

Most schools will perform the Debtors End of Year a few weeks before performing the General Ledger End of Year. As a result, Debtors will be in 2024 while the Ledger will still be in 2023. Because of this special care needs to be taken when finalising Debtor Receipt Batches or Debtor Accrual batches to ensure they are posted to the correct period of the General Ledger.

If your General Ledger has not rolled select [Pend the batch for finalisation in the Next Year]

Once the Ledger is rolled the batches in pending can be finalised to the correct period (if this is not done the batches will have to be Journaled to correct the mistake)

If you do not have the ability to pend receipt batches - contact the helpdesk for functionality to be activated.

 

Finalising Batches to the Prior Year

NOTE: This should be done keeping in mind that all of the reports have been printed based on the information prior to rollover.

If both the Debtors and General Ledger modules are rolled into the New Year, that is you are in 2024 and you wish to finalise a batch to the previous year, select [Finalised into a period in the Previous Year] this will finalise to December 2023

Billing

Prior to executing a billing run for the new year, ensure that the Scholastic end of year procedures have been run. That is, current students and new students have been rolled into their correct year level for billing.

 

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