Unit4

Here’s a closer look at the latest version’s new Provisional Year End and Year End Undo functions, and the benefits these will bring to your reporting procedures. 

So, what has changed?

• A new Provisional Year End function. This performs all the processing of a full year end, but without closing the year in question, so you can continue posting to that year. 
• A Year End Undo function. You can now undo a year end after it has been closed. Having effectively unlocked it, you are then free to post to the year in question. 

Provisional Year End function 

This new provisional mode option gives organisations more control over year-end. No longer do you have to wait for the auditors to give the green light before running a ‘once-and-for-all’ process. Instead, you can create and update a provisional version at any time within the system, and subsequently close it when you are ready.

If a requirement for further adjustment is flagged up after close, the undo function makes it easy to rectify it. 

The new functionality is only available to users who have upgraded to Unit4 Financials 2020 / Continuously Release (previously known as Version 15). Under this latest software version, users have a choice of two modes for running a year end: provisional or full.

Undo Year End function 

The new undo year end feature in Unit4 Financials Continuous Release is a further useful addition to the system’s functionality. It means you can now undo both provisional and full year ends. 

When activated, the undo function cancels all year end journals posted to the final period for the latest year in which a year end has been run, as well as to the opening period of the following year. If a full year end is undone, then the minimum year will be reset to the previous year. 

Benefits for finance teams 

The new provisional mode gives finance officers a much greater degree of flexibility in the timing of their year end process. 

Previously, launching the year end process always meant closing the year, which in turn generally meant the process could not be triggered unless and until the auditors had completed their final checks. Now, you have the option of running a report at any time of your choosing. As well as being a useful internal resource for finance, there may also be wider situations where the ability to rapidly generate a provisional year end will be useful, such as updating the executive team or providing information to external stakeholders. 

Furthermore, year end close traditionally meant that the accounts for the year in question were locked down for further adjustments. The undo year end function provides a useful failsafe measure: if a discrepancy is discovered further down the line, you have the option of rectifying it quickly and easily. 

Watch these new functions in action 

A painless Unit4 Financials upgrade starts here 

Are you currently running Unit4 Coda Financials V13 or earlier? With support for these legacy versions now withdrawn, this is the time to upgrade. 

Millennium Consulting specialises not only in ensuring the upgrade process is a seamless one, but also in ensuring your upgraded solution is fully aligned with what your organisation wants to achieve. To explore your upgrade options, contact us today.   

In this blog post discover how the Unit4 Financials Homepage Portal can transform the user experience, enabling easier navigation, faster processing, and more effective day-to-day task management.

The Homepage Portal is available on Unit4 Financials V12 onwards.

If you are a user who has been allocated a Homepage Portal, your default screen when logging onto the system will look something like this:

It’s refreshingly simple, comprising of three elements:

Tabs. The tabs are pages relating to distinct operational areas; in this case, Finance & Assets, Purchasing, Invoice Matching and Billing. The Portal is completely customisable, so you can match the tabs to the individual user’s role and responsibilities. For example, in the case of a team member whose sole responsibility is administering incoming invoices, the portal might include just a single tab: Accounts Payable.

Frames. The frames are used to group together similar content providers (see below) by subject area.

Content providers. Clicking on a content provider will take you directly to a specific report or function. For instance, under the Nominal processes frame within the Finance & Assets tab, a user can instantly navigate to Enquiries, Journal Input, Bank Reconciliation, Currency Revaluation or Intercompany Adjustments, simply by clicking on the relevant content provider.

Watch how the Portal speeds up task performance

Watch a demonstration of a search carried out from the main menu, and the same search executed via the Portal model.

The Portal approach is significantly more effective at taking users exactly directly where they need to be. There’s far less manual entry and toggling through presenters and selectors. On an individual user level, it’s quicker and easier. And once you apply it to a large finance team, all of whom execute dozens of processes and queries a day, it can make a huge difference to organisational productivity.

Portal setup

Portals are set up at system administrator-level. Before you start to set up a Portal, we recommend that you have a sketch map of the way you want the menus to be displayed, and the content.

Unlocking Unit4 Financials expertise

If you would like expert input on Homepage configuration, we’re here to help.
Whether you are looking for ‘easy wins’ from your existing setup, best practice advice on the platform’s latest functionality or a complete re-implementation, Millennium Consulting can provide the support you need. To access unrivalled expertise from a Unit4 Elite Partner, speak to us today.