XCEDE PROFESSIONAL ACCOUNTING. Master Sheets and Templates Release Notes

Transcription

1 XCEDE PROFESSIONAL ACCOUNTING Master Sheets and Templates Release Notes August 2016

2 Author Created and Published by Reckon Limited Level 12, 65 Berry Street North Sydney NSW 2060 Australia ACN All Rights Reserved Copyright 2015 Reckon Limited Copyright & Trademarks No part of these materials may be reproduced or transmitted in any form or by any means, including photocopying, without written permission of Reckon Limited. Every effort has been made to ensure the accuracy and completeness of this manual. However, neither Reckon Limited, its subsidiaries, employees and agents, are liable for any errors or omissions. This document should not be relied on as a detailed specification of the system. In addition, Reckon Limited reserves the right to issue revisions, enhancements and improvements to Reckon APS software or any other Reckon software at any time without notice. Every effort will be made to ensure that the manual is updated concurrently and that the user is not inconvenienced as a result of any change. Reckon, Reckon logos, R logos, Reckon APS, Advance and Accountable Technology are trademarks of Reckon Limited. Reckon Limited PAGE 2 OF 74

3 Contents RELEASE NOTES XCEDE RELEASE AUGUST Xcede Sheets and Versions of Excel... 6 Important! Refreshing the Financial Reporting Fields on a Ledger... 6 Very Important! XPA Template to Customised Template Refresh... 6 Definition of Entity & Entity Type... 7 The Header & Footer Sheets... 7 SECTION 1: INCLUDED IN THIS YEAR S RELEASE... 8 XCEDE SHEETS: DEFAULT MARGINS & COLUMN WIDTHS... 9 Xcede 9 (.xlsx) Sheets & Margins... 9 Xcede 10 (.xlsb) Sheets & Margins... 9 All Xcede Sheets & Column Widths... 9 Generating Financial Reports Customised Sheets & Changes to Margins & Column Widths MANAGEMENT REPORTS CHANGES Management Balance Sheets Management Notes & Shares in Companies Management Notes & Loan Accounts Receivables Notes Management Profit & Loss Statements & Manufacturing Costs Taxable Income Reconciliation Statement MANAGEMENT & COMPLIANCE REPORTS CHANGES Audit Reports, Compilation Reports & the Signatory Section Trustee/Directors Declaration & Flexible Heading Compilation Reports Accountant s Report Disclaimer COMPLIANCE ACCOUNTS CHANGES THE PRIMARY STATEMENTS SUPPORTING NOTES INCORPORATED ASSOCIATION Compilation Report CORPORATE TRUSTEE Note 1: Summary of Significant Accounting Policies & Year of Grace SELF-MANAGED SUPERANNUATION FUND ACCOUNTS CHANGES Audit Report Statement of Financial Position Note 1: Summary of Significant Accounting Policies Preparing Year of Grace Financial Statements SECTION 2: THE TEMPLATES All Standard Templates Reckon Limited PAGE 3 OF 74

4 Master Chart Template & General Ledger Accounts Manufacturing Costs & Superannuation Fund Expense Accounts Inventories & Non-Current Assets Held for Sale Entity Templates & Financial Reporting Fields Trust Template Only Superannuation Fund Template Only SECTION 3: NEW, DELETED & AMENDED XCEDE SHEETS New Sheets Amendment of Existing Sheets SECTION 4: MANAGING TEMPLATES & XCEDE MASTER SHEETS Storing Xcede Sheets & Templates into XPA Xcede Sheets and the Sheets Directory Xcede Sheets: Default Margins & Column Widths The Header & Footer Sheets Customised Entity Templates Financial Reporting Fields Adding the New Xcede Sheets to the Entity Templates To Add a New Xcede Spreadsheet to the Entity Templates Refreshing Financial Reporting Fields for Existing Ledgers Reckon Limited PAGE 4 OF 74

5 RELEASE NOTES XCEDE RELEASE AUGUST 2016 We provide a yearly upgrade to Xcede Professional Accounting Xcede Master Sheets and Templates. This year the sheets that support management financial reports have been enhanced to include new capabilities and the sheets that support compliance financial reports have been upgraded for reporting year 2016 in line with the Thomson Reuters Publication: 2016 XYZ Model Financial Accounts, prepared by ShineWing Australia. This document has been divided into the following four sections: Section 1: This section details what changes have been made and what enhancements have been added to the Xcede Master Sheets. Section 2: Explains the changes that have been made to the Master Chart Template and the entity templates, including the Financial Reporting Fields. Section 3: Details which new sheets have been added, which sheets have been deleted and which sheets have been amended in the Xcede Master Sheets; and Section 4: Provides assistance on managing your templates and Xcede sheets where they have been customised to suit your practice. Where you are using our master sheets and templates as released you do not need to read any more than Section 1 of these notes to find out what has been included in this year s release. For users that have changed their templates or sheets, then sections two, three and four provide the detail to assist you in managing your customised templates and Xcede sheets. The 2016 release also includes the following standard documents that have been amended to be in line with this release of our master sheets and templates, where necessary: XPA - Producing Financial Statements : This document provides information on all aspects of producing and printing financial reports. It contains information such as where data is stored that is referenced in reports and the types of reports and default jobstreams included with our standard templates. Also, any management reports that are available to be printed from Xcede but are not included in the default jobstreams. XPA Xcede Master Sheets Index : This document lists each Xcede Master Sheet and indicates whether a sheet is used in conjunction with printing management accounts or printing compliance accounts. Additionally, the document includes directions on where in Xcede Professional Accounting to add additional information if necessary, or change default information provided. XPA - Style Application : This document provides information regarding the style sheet application that is available to allow users of Xcede Master Sheets to change the appearance of their printed reports without the need to customise any of the Xcede Master Sheets. This facility enables a practice to apply their own format to their financial statements while using the Xcede Master Sheets and keeping all the advantages of remaining with the released standard sheets. XPA - Financial Reporting Fields 2016: This document contains information on the role of reporting fields in relation to the financial statements and how to enter the relevant data. Additionally, it explains the type of fields that can be created by users and the commands that are used to reference these fields in customised sheets. Finally, it details how to list financial reporting fields for easy reference. Reckon Limited PAGE 5 OF 74

6 Also available for reference is the following Excel Worksheet: Transfer to or from Reserves Coding Matrix 2016.xlsx: This worksheet is provided to assist with the coding of movements to or from reserves out of retained earnings; it is a coding matrix to aid the selection of the correct subaccounts for both in the appropriation accounts and the reserves accounts. We recommend that the new versions of the above documents and worksheet are distributed to staff and the previous versions of these documents are deleted from your network. The icon shown to the left has been included next to various paragraphs in these release notes which indicate that the information contained in the paragraph is important and should be noted when reviewing these release notes. Xcede Sheets and Versions of Excel This year s release includes sheets for use with Microsoft Excel 2007, Microsoft Excel 2010 and Microsoft Excel This release does NOT include sheets for use with Microsoft Excel If the current version of Microsoft Excel in your practice is 2003, please contact the support team for assistance. Important! Refreshing the Financial Reporting Fields on a Ledger Once you have loaded the new XPA Xcede Master Sheets and entity templates into their respective directories then each of your existing ledgers needs to be refreshed against the appropriate entity template. This procedure loads any new financial reporting fields introduced with this release into your ledger. For details on refreshing the financial reporting fields from the new entity templates, please see Section 4: Managing Templates and Xcede Sheets on page 68. Very Important! XPA Template to Customised Template Refresh The XPA entity templates store a short chart of accounts, a table of system financial reporting fields and a list of jobstreams. The financial reporting fields are significantly amended each year to include new fields, delete obsolete fields and update default data. Please be aware that a refresh of financial reporting fields from the 2016 XPA template to your customised template does not update existing default data and settings stored in retained system fields. This is to ensure that any changes you have made to the financial reporting fields stored on your 2015 customised templates are not overwritten. Reckon Limited PAGE 6 OF 74

7 Where you have made many changes to the settings and data stored in financial reporting fields on your customised templates and opened practice specific financial reporting fields then you need to review these release notes and check the default data stored meets your reporting requirements when preparing your 2016 financial statements. Where you have made minimal changes to the settings on the table of financial reporting fields and/or the short chart of accounts; and, that the main reason for maintaining a set of customised templates is to manage your practice jobstreams, then we recommend that you do not refresh the financial reporting fields. Rather, re-customise the 2016 XPA templates and remake any changes to the data and settings stored on financial reporting fields. Review these release notes to see if there are any further settings that need changing or data amendments required to make use of any enhancement included this year. Then re-create the practice specific jobstreams. This method would ensure the 2016 data stored in the financial reporting fields on your customised templates is in line with the data stored on the XPA 2016 templates. Definition of Entity & Entity Type Within these release notes, where an enhancement or a change is detailed and the statement is made that the enhancements or changes relate to all entities, then the entity types included in the generic term entity are company, trust, incorporated association, partnership and sole proprietor. Generally, this generic term does not relate to a non-reporting corporate trustee company or non-reporting defined contribution superannuation fund unless specifically stated. At the end of Section 1, the changes made that relate specifically to the non-reporting corporate trustee company or non-reporting defined contribution superannuation fund are detailed. The Header & Footer Sheets IMPORTANT! Please note that various tabs in the three Xcede header workbooks ( Headers Footers.xlsx or Headers Footers - Trustee.xlsx or Headers Footers M ment.xlsx ) that are used when printing management and compliance reports, have been amended in the XPA Xcede Master Sheets release. Please refer to Section 3 commencing on page 55 Section 4 commencing on page 68 for details of these changes. Where you have customised header and/or footers then please be aware that there may be issues when you upgrade to the new sheets. Reckon Limited PAGE 7 OF 74

8 SECTION 1: INCLUDED IN THIS YEAR S RELEASE The 2016 release of Xcede Master Sheets includes the following features: All Master Xcede Sheets have been reviewed and the default sheet margins have been reduced to recover additional print area on a page. Column widths on the relevant Master Xcede Sheets have also been adjusted to fully utilise the print area recovered. Upgrade of all relevant sheets used to print compliance financial reports for companies, in line with the Thomson Reuters Publication: 2016 XYZ Model Financial Accounts prepared by ShineWing Australia. Upgrade of all relevant sheets used to print compliance financial reports for discretionary and unit trusts, in line with the Thomson Reuters Publication: 2016 XYZ Model Financial Accounts prepared by ShineWing Australia. Upgrade of all relevant sheets used to print compliance financial reports for partnerships, in line with the Thomson Reuters Publication: 2016 XYZ Model Financial Accounts prepared by ShineWing Australia. Upgrade of all relevant sheets used to print compliance financial reports for incorporated associations, in line with the Thomson Reuters Publication: 2016 XYZ Model Financial Accounts prepared by ShineWing Australia. Upgrade of all relevant sheets used to print compliance financial reports for non-reporting self-managed defined contributions superannuation funds, in line with the Thomson Reuters Publication: 2016 XYZ Model Financial Accounts prepared by ShineWing Australia. Where the current and non-current shares in companies accounts (675 to 678 and 794 to 798) are fully impaired in both this year and the comparative year, users have the option of displaying the detailed movements in the supporting notes for a management set of financial statements. The Borrowings Note has been enhanced to allow the user to print the subaccount detail for the four current and four non-current accounts used to report hire purchase liability in the same way that the management supporting note displays this detail. Accounts 240 and 241 have been allocated as superannuation fund expense accounts within the Manufacturing Costs range of accounts on the Xcede Master Chart. Accordingly the Statement of Profit or Loss has been amended to include these two accounts in the item Employees benefits expense when the Statement of Profit or Loss expenses is printed with expenses classified by nature. Other minor Xcede sheets and templates enhancements and amendments. Reckon Limited PAGE 8 OF 74

9 XCEDE SHEETS: DEFAULT MARGINS & COLUMN WIDTHS In this release of the Xcede Master Sheets, the margins and column widths on all sheets have been adjusted to recover additional printing area. Over many previous releases the margins have been adjusted periodically to accommodate the requirements of various versions of Excel and Xcede, as well as accepted practices such as manual binding of a financial report. Xcede 9 (.xlsx) Sheets & Margins In general all margins on Xcede sheets with portrait orientation used when generating reports in Xcede 9 are now set to: Significant changes have been made to the left, right and bottom margins to reduce the size of them. No change has been made to the top margin. Xcede 10 (.xlsb) Sheets & Margins In general all margins on Xcede sheets with portrait orientation used when generating reports in Xcede 10 are now set to: The only difference to the margins for Xcede 9 and Xcede 10 is the bottom margin which is set narrower at 0.5 for Xcede 10. All Xcede Sheets & Column Widths This reduction in margins has enlarged the print area on the page in all reports with portrait orientation. Accordingly, the column widths have been adjusted to make use of this additional space. The effect of the change in margins and column widths is most easily seen in the text reports such as the compilation report, declarations, Note 1 etc. Reckon Limited PAGE 9 OF 74

10 Extract from the compilation report included with this year s release, showing the new margins and column position on the page: Reckon Limited PAGE 10 OF 74

11 Compare the extract from the compilation report shown above with the extract from the compilation report included in the 2015 release shown below: Reckon Limited PAGE 11 OF 74

12 Extract from the compliance balance sheet included with this year s release: Compare the extract from the compliance balance sheet shown above with the extract from the compliance balance sheet included in the 2015 release shown below: The reports available in landscape orientation have also been reviewed but generally there has been very little change to these reports. Essentially the reports in landscape orientation have been reviewed to confirm that the margins are uniform across these types of sheets. Generating Financial Reports Where the Xcede Master Sheets are deployed each year within a practice with no change to any sheets then the reports perform as they have in prior years. The noticeable change, of course is the position on the page of the printed report, as described above. There may be fewer pages that comprise the financial report as more data is now able to be printed on a particular page. IMPORTANT! Where a practice uses customised sheets when generating financial reports, then these customised sheets need to be reviewed and amended as required. Where a practice has customised any Xcede sheets in-house or uses sheets customised by an external party then the margins and column width of those customised sheets should be also be amended in line with the new margins and column widths included with this year s release. Reckon Limited PAGE 12 OF 74

13 Any customised reports that are commonly printed in a jobstream among the standard Xcede Master Sheet now display narrower on the page and the footer prints higher on the page. This difference can be seen in the screen shots of reports included above. Accordingly, the format of the pages that comprise the generated financial report can change for various pages. To make any customised reports uniform with the 2016 release the margins and the column widths should be reviewed and amended as necessary. Where a customised report does not comprise the main body of a financial report, a value-add report for example then the margins and column widths may not require change. A practice can make this assessment during review. Please see the next section of these release notes for information on how to update customised sheets. Customised Sheets & Changes to Margins & Column Widths It is not uncommon for a practice to have customised their header and footer sheets and/or their compilation reports and declarations. Additionally, a practice may include a customised valueadded report in their management jobstream. Where there are customised sheets included in a jobstream, then the margins and column widths should be reviewed and changed as necessary. It has been our recommendation that when customised reports are created, the initials of the practice prefix the original source sheet name. Therefore a practice should be able to identify the name of the original source sheet. IMPORTANT! Please review this section of the release notes and contact your Reckon APS consultant if you require more information than is contained in this guide or you require assistance to make any necessary changes to your customised sheets. There are two ways to deal with an individual customised Xcede sheet within a practice: Option 1: Redo the customisations in the 2016 Xcede Sheets We note that where minimal changes were made to an Xcede sheet during customisation, it may be easier to re-customise the 2016 version of the Xcede sheet and re-make those changes. Additionally these release notes should be reviewed to see if there have been any enhancements or bug fixes made to the original source sheet that make the recustomisation an easier option. Please note that there have been significant changes made to the header and footer sheets as well as the compilation reports in this year s release of Xcede Master Sheets. Accordingly we suggest that it may be easier to re-customise these reports. Option 2: Amend the column widths and margins in the customised sheet. Where there have been no enhancements made to the original source sheet for this year s Xcede Master Sheet release and the changes to a particular Xcede sheet are complex or extensive then the margins and the column widths need to be amended manually to ensure that the format of these sheets match the format of the majority of the sheets available to generate financial reports. Reckon Limited PAGE 13 OF 74

14 IMPORTANT! Please backup your customised sheets before making any changes to them. Before amending any customised sheets, ensure the sheet attributes is not set to Read-only on each sheet or the folder where the backed up customised sheets are stored. Please refer to the relevant section below for information on checking and changing your margin settings and redefining column widths depending on whether you are generating reports using Xcede 9 (.xlsx) sheets or Xcede 10 (.xlsb) sheets. Reckon Limited PAGE 14 OF 74

15 Margin Settings for Xcede 9 (.xlsx) Sheets As noted above, column widths of the portrait orientation reports where you are using Xcede 9 (.xlsx sheets) are now set as shown below. From the Page Layout tab on the Excel ribbon, the page margins can be selected either by clicking the Margins button and selecting Custom Margins or clicking the Print Titles button and selecting the Margins tab: Amend the margins of all customised reports in portrait orientation as shown above. We also recommend that after changing any margins the print quality setting should also be checked to ensure that the default setting of 600 dpi is still present. Where the print quality setting is showing as blank, or showing a different dpi then please restore to 600 dpi. It is recommended that the margins on all customised portrait reports are amended to the above settings. Reckon Limited PAGE 15 OF 74

16 Margin Display is Different Where you are not seeing margin settings displayed in centimetres then please update the Ruler setting to centimetres in Excel. Select File in Excel and then Options. Select Advanced and scroll down to the Display section and amend the Ruler units to centimetres. Reckon Limited PAGE 16 OF 74

17 Changes to Column Widths for Xcede 9 (.xlsx) Sheets As noted previously, when customised reports are created, the initials of the practice generally prefix the name of the original source sheet. Accordingly, the easiest way to set the column widths on a customised report is to replicate the column widths stored in this years released sheet into the customised sheet. For example, the text available in the Directors Declaration shown below was customised for ABC Practice in 20##: Columns A and B are not visible on printing. Columns C to G should be checked and compared with the column widths shown in the screen shot below which is an extract from the 2016 version of the Directors Declaration. Reckon Limited PAGE 17 OF 74

18 These column widths can be changed manually by comparing and changing each column or the copy and Paste Special function can be used. Simply highlight the columns to copy the columns from the 2016 version of the sheet and use the Paste Special function to paste only the column widths. Changes to Column Widths for Xcede 9 (.xlsx) Header & Footer Sheets As noted previously there have been changes made to the header and footer sheets in this year s release of Xcede Master Sheets. The printing positon on the page of the supporting notes is controlled by various header/footer note tabs. Where you do not wish to re-customise the three header and footer sheets and prefer to manually change the margins and the column widths, please refer below to the tabs that require changing in order to ensure that the supporting notes to the financial report print in the same position on the page as the primary statements: For the management Header and Footer Sheet, Headers Footers - M'ment.xlsx, please amend the margins and column widths as described above for the following tabs: HEADER-NOTES1 ; HEADER-NOTES ; HEADER-ONEYEAR1 & HEADER-ONEYEAR Compliance Header and Footer Sheet: Headers Footers.xlsx, please amend the margins and column widths as described above for the following tabs: HEADER-NOTES1 ; HEADER-NOTES ; HEADER-NOTESBS ; HEADER-ONEYEAR1 ; HEADER-ONEYEAR ; HEADER-ONEYEARBS Reckon Limited PAGE 18 OF 74

19 Trustee Company Header and Footer Sheet: Headers Footers Trustee.xlsx, please amend the margins and column widths as described above for the following tabs: HEADER-NOTES1 ; HEADER-NOTES ; HEADER-ONEYEAR1 & HEADER-ONEYEAR Converting Customised Xcede 9 (.xlsx) Sheets to Xcede 10 (.xlsb) Sheets Where you have been using Xcede 9 for reporting and move to reporting using Xcede 10 then your customised sheets need to be converted from Xcede 9 (.xlsx) sheets to Xcede 10 (.xlsb) sheets. To convert: Launch Excel from the XPA ribbon. The following information screen is displayed. Select Yes to launch Xcede 10. From the Xcede 10 menu, select Open Xcede. When the Xcede 10 ribbon launches, select Upgrade. Reckon Limited PAGE 19 OF 74

20 There are two options available when converting Xcede 9 (.xlsx) workbooks to Xcede 10 workbooks (.xlsb). Either select each workbook individually to upgrade them or select a folder where the customised workbooks are stored. Please note that we recommend that the bottom margin is reduced by 0.7 centimetres during conversion to print the footer in the same position as it was for Xcede 9 reports. To upgrade your customised sheets stored in a particular folder, Click the Select button and locate the folder. The following message appears during the upgrade of the Xcede 9 sheets: When the message disappears, the upgrade process is complete and your upgraded customised sheets can be copied to your sheets directory for use when generating reports. Reckon Limited PAGE 20 OF 74

21 Margin Settings for Xcede 10 (.xlsb) Sheets As noted above, column widths of the portrait orientation reports where you are using Xcede 10 (.xlsb sheets) are now set as shown below. From the Page Layout tab on the Excel ribbon, the page margins can be selected either by clicking the Margins button and selecting Custom Margins or clicking the Print Titles button and selecting the Margins tab: Amend the margins of all customised reports in portrait orientation as shown above. We also recommend that after changing any margins the print quality setting should also be checked to ensure that the default setting of 600 dpi is still present. Where the print quality setting is showing as blank, or showing a different dpi then please restore to 600 dpi. It is recommended that the margins on all customised portrait reports are amended to the above settings. Reckon Limited PAGE 21 OF 74

22 Margin Display is Different Where you are not seeing margin settings displayed in centimetres then please update the Ruler setting to centimetres in Excel. Select File in Excel and then Options. Select Advanced and scroll down to the Display section and amend the Ruler units to centimetres. Changes to Column Widths for Xcede 10 (.xlsb) Sheets As noted previously, when customised reports are created, the initials of the practice generally prefix the name of the original source sheet. Accordingly, the easiest way to set the column widths on a customised report is to replicate the column widths stored in this years released sheet into the customised sheet. For example, the text available in the Directors Declaration shown below was customised for ABC Practice in 20##: Reckon Limited PAGE 22 OF 74

23 Columns A to E are not visible on printing. Columns F to J should be checked and compared with the column widths shown in the screen shot below which is an extract from the 2016 version of the Directors Declaration. These column widths can be changed manually by comparing and changing each column or the copy and Paste Special function can be used. Simply highlight the columns to copy the columns from the 2016 version of the sheet and use the Paste Special function to paste only the column widths. Reckon Limited PAGE 23 OF 74

24 Changes to Column Widths for Xcede 10 (.xlsb) Header & Footer Sheets As noted previously there have been changes made to the header and footer sheets in this year s release of Xcede Master Sheets. The printing positon on the page of the supporting notes is controlled by various header/footer note tabs. Where you do not wish to re-customise the three header and footer sheets and prefer to manually change the margins and the column widths, please refer below to the tabs that require changing in order to ensure that the supporting notes to the financial report print in the same position on the page as the primary statements: For the management Header and Footer Sheet, Headers Footers - M'ment.xlsb, please amend the margins and column widths as described above for the following tabs: HEADER-NOTES1 ; HEADER-NOTES ; HEADER-ONEYEAR1 & HEADER-ONEYEAR Compliance Header and Footer Sheet: Headers Footers.xlsb, please amend the margins and column widths as described above for the following tabs: HEADER-NOTES1 ; HEADER-NOTES ; HEADER-NOTESBS ; HEADER-ONEYEAR1 ; HEADER-ONEYEAR ; HEADER-ONEYEARBS Trustee Company Header and Footer Sheet: Headers Footers Trustee.xlsb, please amend the margins and column widths as described above for the following tabs: HEADER-NOTES1 ; HEADER-NOTES ; HEADER-ONEYEAR1 & HEADER-ONEYEAR Reckon Limited PAGE 24 OF 74

25 MANAGEMENT REPORTS CHANGES This section details what enhancements and changes have been made to reports that are included in a management jobstream. Management Balance Sheets In previous releases the non-current Inventories range of accounts had been classified as Non-Current Assets Held for Sale. This has been corrected in this year s release of the Xcede Master Sheets & Templates and the account range 840 to 849 is now classified as non-current Inventories and Non-Current Assets Held for Sale. The applicable tags in the tag set Chart Section available on the XPA Master Chart have been created or amended accordingly: Accordingly, the management balances sheets have been amended to reflect the changes to the Xcede Master Chart. There is a new section on these balance sheets titled Non-Current Inventories that prints balances in accounts 840 to 847, and the section Non-Current Assets Held for Sale now prints balances form account 848 and 849 only. These changes affect the following management balance sheets: ManBS.xlsx: Balance sheet used with management accounts that generates supporting notes where subaccounts are used. ManBSSub.xlsx: Management Balance Sheet that prints subaccount balances on the face of the report. ManBS5Yr.xlsx: Management Balance Sheet that prints the current year along with the 4 preceding years across the page. Reckon Limited PAGE 25 OF 74

26 Management Notes & Shares in Companies On the XPA Master Chart, the current shares in companies accounts (675 to 678) and noncurrent shares in companies accounts (794 to 798) have the potential to be fully impaired in both this year and the comparative year. In previous releases of Xcede Master Sheets a supporting management note detailing any movements during the year would not have been included. In this year's release users have the option of displaying the detailed movements in the supporting notes for these two ranges of accounts where the control account has a nil balance at year end. There is a new financial reporting field available on the entity templates. The default has been set to Yes, so the detailed movements for these accounts are displayed even though there is a nil balance at year end. To exclude the detailed movements for these accounts, simply remove the tick to the left that connects this new financial reporting field to the template, select No and save the change. IMPORTANT! Where you prefer to exclude a supporting management note for the current and non-current shares in companies accounts where there is a nil balance at year end, then we recommend that the entity templates are amended prior to refreshing any ledgers. Where a template is amended, replace the tick to the left. Reckon Limited PAGE 26 OF 74

27 Management Notes & Loan Accounts Receivables Notes The current loan accounts receivables range is 690 to 699 and the non-current loan accounts receivables range is 820 to 839. Within these ranges six current accounts, 690 to 695, link directly to the six non-current accounts, 820 to 825; and any subaccounts with balances are printed collectively. For example where loans to directors, accounts 693 and 823 are subaccounted they can potentially be included with current assets, non-current receivables, current liabilities and non-current liabilities. Where this occurs, only one supporting note generates and prints, which includes the detail of each asset and liability subaccount groups. Reckon Limited PAGE 27 OF 74

28 In response to requests from users the six management notes that print the current loan account receivables and non-current loan account receivables have been enhanced to display a subtotal where there is more than one active balance in the current or non-current sections of the note. Extract from the trial balance: Please note that where there is only one active balance, the subtotal is not included. Reckon Limited PAGE 28 OF 74

29 Management Profit & Loss Statements & Manufacturing Costs The Manufacturing Costs range of accounts on the Xcede Master Chart is accounts 280 to 299 and accounts 240 to 249. This year accounts 240 and 241 have been allocated as superannuation fund expense accounts. These two accounts are primarily required when producing compliance accounts as they printed in a specific line item on the Statement of Profit or Loss, and disclosed in the Profit for the Year supporting note. Please see section titled Statement of Profit or Loss on page 35 for more information how this change affect compliance reports. These two accounts have been selected for use for this purpose as the account range 240 to 249 has previously been blank on the Xcede Master Chart. Under normal conditions, when printing management Profit and Loss Statements and Trading Statements the allocation of these 2 accounts has have no impact on these management reports. On the face of each Profit and Loss Statement and Trading Statement, account range 280 to 299 prints before account range 240 to 249. However, where accounts 240 and 241 are opened for a ledger from the master chart, please be aware that there is the possibility that the manufacturing cost descriptions do not follow an alphabetical order when printed in a management report. A detailed management report may be added to a compliance jobstream for an example so the use of accounts 240 and 241 may be required so the Statement of Profit or Loss prints correctly. Reckon Limited PAGE 29 OF 74

30 Extract from the trial balance for our example ledger; account 297 has been opened as Waste removal : Extract from the Trading Statement for our example ledger, the final two expenses are out of alphabetical order: Additionally, accounts 240 and 241 may already be in use for other manufacturing costs within a general ledger. Where the manufacturing costs are required to be reordered or reallocated, then the function Account Translate to is available to translate these accounts to different account codes: Taxable Income Reconciliation Statement The Taxable Income Reconciliation Statement has been amended this year so that the inclusion of the comparative values column in this report is solely dependent on the setting in the following financial reporting field available on the entity templates: Previously the comparative value column was also omitted where there were no active reconciliation items in the prior year. Reckon Limited PAGE 30 OF 74

31 MANAGEMENT & COMPLIANCE REPORTS CHANGES This section details what enhancements and changes have been made to reports that are included in both a management jobstream and a compliance jobstream. Audit Reports, Compilation Reports & the Signatory Section In the signatory section of the Auditor s Independence Declaration, the audit reports and the compilation reports, a colon is included that separates the position in the firm of the signatory from the name of the signatory. Where the name of the signatory has not been added, or the position in the firm of the signatory is left blank, or both of these items have not been entered, then the colon is no longer required to be included. In these circumstances the Auditor s Independence Declaration, the audit reports and the compilation reports have been amended for this year s Master Sheets release to exclude the colon. Where both the name of the signatory and the position in the firm of the signatory are added to File Details, then the colon is included to separate these two items, as previously. This change affects the following reports: AuditorIndDec.xlsx AuditReport.xlsx AuditReportPship.xlsx AuditReportTrust.xlsx CompReport.xlsx CompReportMan.xlsx CompRepT.xlsx IAAuditRep.xlsx SFComp.xlsx Trustee/Directors Declaration & Flexible Heading Where a trust ledger has a non-reporting corporate trustee then the trustee declaration was previously headed Directors Declaration or Directors Declaration of the Trustee Company depending on whether the management or compliance version was included in the jobstream. An alternate heading may be preferred, such as Trustee s Declaration even where the trustee is a corporate trustee. Reckon Limited PAGE 31 OF 74

32 To allow the user total control over the heading to this report, two new financial reporting fields have been opened on the trust template in this year s release. The first new field allows the user to select the heading Trustee Declaration at all times. The default has been set to No. To select Trustee Declaration for a corporate trustee, simply remove the tick to the left that connects this new financial reporting field to the template, select Yes and save the change. Where either heading is not suitable, the second financial reporting field allows a user defined heading to be added. IMPORTANT! Where you wish to select Trustee Declaration or add alternate heading for all trust ledgers then we recommend that the trust template is amended prior to refreshing any trust ledgers. Where a template is amended, replace the tick to the left. Compilation Reports The compilation reports included in Xcede Master Sheets have been amended this year to remove all sections that were used to compile the previous version of APES 315 Compilation of Financial Information. In last year s release a financial reporting field was available to control which version of the compilation report was printed, the report applicable to financial statements that were prepared at 30 June 2015, or the one required for engagements commencing on or after 1 July This financial reporting field has been removed from all templates. The compilation reports have also been amended in line with Thomson Reuters Publication: 2016 XYZ Model Financial Accounts. The following four compilation reports are available in the Xcede Master Sheets: Compliance compilation report, CompReport.xlsx : Used when printing both reporting and non-reporting compliance financial statements for a company, trust, partnership, incorporated association and sole trader; Management compilation report, CompReportMan.xlsx : Used when printing non-reporting management financial statements for a company, trust, partnership, incorporated association and sole trader; Non-Reporting Corporate trustee company compilation report, CompRepT.xlsx ; and Superannuation fund compilation report, SFComp.xlsx. Reckon Limited PAGE 32 OF 74

33 Accountant s Report Disclaimer An Accountant s Report Disclaimer may be used where a practice compiles financial information which is not within the scope of a Compilation Engagement. An Accountant s Report Disclaimer has been added to Xcede Master Sheets this year and this report is suitable for use on an excluded activity to prepare special purpose financial statements used as a basis to complete an income tax return. A new group of financial reporting fields has been opened in the section Text Reports & Declarations to assist with tailoring this new report: Please note that where you wish to include the Accountant s Report Disclaimer and remove the Compilation Report from a management jobstream then the first financial reporting field shown above should be set to Yes. This setting controls the reference in the applicable footer to now be Accountant s Report Disclaimer. In line with the Compilation Report the Accountant s Report Disclaimer is able to be tailored as follows: The company name and ABN/ACN are able to be optionally included or excluded from the top of the report. The first financial reporting field in this new group controls this facility. The default has been set to Yes to include all heading lines when printing the Accountant s Report Disclaimer. Where this field is set to No, then the name of the entity and the ABN/ACN number are the only two heading lines to print. Where a person s occupational liability is limited by a scheme, there is the facility to include this information on the Accountant s Report Disclaimer footer where you do not want to print the Accountant s Report Disclaimer on letterhead or customise it. A financial reporting field is available to control the inclusion of a statement on occupational liability that is limited by a scheme. Where this field is set to Yes the text included in the footer regarding the scheme is taken from the default text available for disclosure in the financial reporting field group Compilation Report. There are two methods of including a date on the bottom of this report: The standard date format where the date is added prior to printing. There is also the alternate date format that allows the report to be dated by hand when the report is signed. This format also allows the default text that prints to be amended or deleted as required. Reckon Limited PAGE 33 OF 74

34 The Accountant s Report Disclaimer printed from our example company XYZ Company Pty Ltd. The report has been printed with the defaults available in the company template: Management Index The Accountant s Report Disclaimer has been added to the end of the management index, IndexMan.xlsx, and is included on the index where the disclaimer replaces the compilation report in a management jobstream. The Accountant s Report Disclaimer has also been added to the compliance index, Index.xlsx, where the compliance style reports are used for a particular ledger. Reckon Limited PAGE 34 OF 74

35 COMPLIANCE ACCOUNTS CHANGES This section detail what enhancements and changes have been made to reports that are included in a compliance or compliance style jobstream only. THE PRIMARY STATEMENTS Statement of Profit or Loss The Manufacturing Costs range of accounts on the Xcede Master Chart is accounts 280 to 299 and accounts 240 to 249. It has been noted that within the Manufacturing Costs range of account there is no superannuation fund expense accounts opened. This year accounts 240 and 241 have been allocated as superannuation fund expense accounts. These two accounts have been selected for use for this purpose as account range 240 to 249 has previously been blank on the Xcede Master Chart. As these accounts are now allocated as superannuation fund expense accounts, accounts 240 and 241 are included in the item Employees benefits expense when the Statement of Profit or Loss expenses is printed with expenses classified by nature: In previous releases, account 240 and 241 were included in the item: Raw material and consumable used or Consumable used when the expenses classification by nature. Where the Statement of Profit or Loss is printed with expenses classified by function, accounts 240 and 241 are still included in the item, Other Expenses. Reckon Limited PAGE 35 OF 74

36 Where either account 240 or account 241 is already used for other manufacturing costs within a general ledger then before the Statement of profit or Loss can be printed these two accounts need to be reallocated. The function Account Translate to is available to translate these accounts to different account codes: Statement of Financial Position Statement of Financial Position: Non-Current Inventories & Non-Current Assets Held for Sale In previous releases the non-current Inventories range of accounts had been classified as Non-Current Assets Held for Sale. This has been corrected in this year s release of the Xcede Master Sheets & Templates and the account range 840 to 849 is now classified as non-current Inventories and Non-Current Assets Held for Sale. The applicable tags in the tag set Chart Section available on the XPA Master Chart have been created or amended accordingly: Statement of Financial Position: Non-Current Assets Held for Sale There are now two accounts classified as Non-Current Assets Held for Sale that print as a line item in the non-current assets section on the Statement of Financial Position. It maybe that Non-Current Assets Held for Sale should be included in the current assets section on the Statement of Financial Position. Accordingly new financial reporting fields have been opened on the entity templates that allow the user to determine whether these accounts are be included as a line item in current assets instead of non-current assets. Reckon Limited PAGE 36 OF 74

37 Accounts 848 and 849 are both opened as blank accounts on the XPA Master Chart. There may be a requirement for only one of these two accounts to be included in the current assets section rather the non-current assets section; therefore there are two new financial reporting fields available to control where each account prints. The default has been set to No for each field so both accounts print as one line item in noncurrent assets. To move an account simply remove the tick to the left that connects this new financial reporting field to the template, select Yes and save the change. The supporting note Non-Current Assets Held for Sale has been amended in line with the Statement of Financial Position. Please see page 45 for details. Statement of Financial Position: Non-Current Inventories The non-current line item Inventories prints as a line item in the non-current assets section on the Statement of Financial Position where there are balances in the account range 840 to 847. The supporting note Inventories has been amended in line with the Statement of Financial Position. Please see page 42 for details. Reckon Limited PAGE 37 OF 74

38 SUPPORTING NOTES Note 1: Summary of Significant Accounting Policies There have been a few changes to Note 1: Summary of Significant Accounting Policies in this year s release of the Xcede Master Sheets. There can be variations in the wording for Note 1 shown in the publication Thomson Reuters Publication: 2016 XYZ Model Financial Accounts for the accounting policy notes between the various entities. This variation of text can be due to the particular circumstances shown for a model or the text may vary only slightly. In general, the approach we have taken is to use the same text for an accounting policy note in each of the entities. This is primarily to promote consistency between the entities. However, we note that there can be deliberate variations in the default text stored in some circumstances for a particular entity. A: Default Text Changes on the Entity Templates A few changes have been made to the default text stored on the entity templates this year. These changes have been made in line with the disclosure displayed in the Thomson Reuters Publication: 2016 XYZ Model Financial Accounts. In addition to changes to specific accounting policies detailed below, there were amendments made to the default text stored on the entity templates, some changes as minimal as a few words, others more substantial, for the following accounting policy notes: We suggest the default text stored in the financial reporting fields that support Note 1: Summary of Significant Accounting Policies should be reviewed prior to refreshing any ledgers. Where any of the default text is not suitable for the majority of a particular group of ledgers then that text should be amended on the particular template prior to refreshing any ledgers. This saves time when completing note 1 to the financial statements for a specific ledger. Statement of Financial Position vs. Balance Sheet in Accounting Policy Notes Please note that Statement of Financial Position included in Volume 2 of XYZ Model Financial Accounts, General Purpose Financial Reporting is generally, but not always shown as Balance Sheet in the Volume 2 of XYZ Model Financial Accounts, Special Purpose Financial Reporting. The non-reporting association model uses the term Assets and Liabilities Statement. In Xcede Master Sheets, there are glossary items available on the entity templates that give the user control over whether Statement of Financial Position or Balance Sheet is selected. The term Statement of Financial Position is stored as the default for compliance or compliance style reports and Balance Sheet is the default text stored for management accounts. The default text stored on the entity templates that are used when printing accounting policy notes refers to statement of financial position rather than balance sheet. Where you are printing the long form Note 1 with management accounts you may wish to amend the terminology used. The term statement of financial position can be found stored in the following accounting policy notes: Business Combinations Policy Note Cash and Cash Equivalents Policy Note Comparative Figures Policy Note Reckon Limited PAGE 38 OF 74

39 Goods and Services Tax Policy Note Financial Instruments Policy Note B: New Accounting Standards for Application in Future Periods Policy Note The various AASB amendments change from year to year as the date of application of the amendment is reached for any Accounting Standard, and for the specific entity. The inclusion of the detail on amendments to the Australian Accounting Standards and their impact is controlled by financial reporting fields. The financial reporting fields group titled Accounting Standards for Application in Future Periods Policy Note contains a default list of amendments to the Accounting Standards. This list includes amendments shown in the publication 2016 XYZ Model Financial Accounts, and therefore should be reviewed on completion of a financial report and any additional amendments added to ensure the note discloses all issued amendments at date of preparation. Associates and Joint Arrangements Note The Associates and Joint Arrangements note has been amended this year to allow the type of share interests that an entity owns in an associate to be flexible. Previously, the type of share interests was fixed as Ordinary. A new financial reporting field is available for each of the three associates that allow the type of share interest to be amended as required. The default text stored for these new fields is ordinary. To change the type of share interest for a particular associate, simply remove the tick to the left that connects these new financial reporting fields to the entity templates, and amend as appropriate and save the change. Do not replace the template tick to the left or the changes made to the ledger are lost. These three new financial reporting fields are available on each of the entity templates. Reckon Limited PAGE 39 OF 74

40 Borrowings Note Borrowings Note & Hire Purchase Range of Accounts Included in the current and non-current ranges of accounts that comprise the borrowing note are eight accounts that can be used to report hire purchase liability where a practice codes a client chart in line with the XPA Master Chart. Previously for these eight accounts the main account balance only printed in the borrowing note; and where there were balances in the unexpired hire purchase liability accounts then a subtotal was also included. The borrowing note has been enhanced in this year s release to allow the user to print the subaccount detail for each of these accounts in the same way that the management supporting note displays this detail. The management supporting note links the subaccount from the hire purchase liability account (say 874/001) to the subaccount from the unexpired hire purchase liability account (say 875/001). To control the display of the hire purchase accounts in the compliance borrowing note, two new financial reporting fields are open on the entity templates; one controls the display of the current account range, the other the non-current account range. The default for these new fields is set to No so the main account balance only prints in the borrowings note: To include the subaccount detail, simply remove the tick to the left that connects these new financial reporting fields to the entity templates, and select Yes as appropriate and save your change. Do not replace the template tick to the left or the changes made to your ledger are lost. IMPORTANT! This enhancement links the subaccounts from one account to another account, consequently the subaccounts from 874 link to 875; subaccounts of 876 links to 877; subaccounts of 924 links to 925; and subaccounts 926 links to 927. Where the subaccount detail is requested by selecting Yes in the relevant financial reporting field the eight accounts become four pairs of accounts. Where one account in one of these pairs has not been subaccounted and has a balance, then the enhancement for that pair is ignored. Reckon Limited PAGE 40 OF 74

41 From the trial balance of our example ledger: No subaccount detail shown in the note: Select Yes in the appropriate field to match subaccount 874/001 with 875/001 in the note: IMPORTANT! This alternate display of the hire purchase accounts should be requested when required for a particular ledger. It is not recommended that your entity templates are updated to set the enhancement to be included for all ledgers and turned off when not required, prior to refreshing any ledgers. The hire purchase accounts (874 to 877 and 924 to 927) may be used for another purpose by a particular ledger. Reckon Limited PAGE 41 OF 74

42 Borrowings Note & Various Minor Changes The Borrowings note has been amended: Additional disclosure is able to be included in the section of Carrying amount non-current assets pledged as security, where required. A new financial reporting field has been opened on the entity templates for this purpose: The headings Collateral provided and Debenture schedule are now stored in two new financial reporting fields opened on the entity templates to allow them to be amended where required. Previously these headings were hardcoded into the Xcede sheet. Borrowings Note & Fair Value Disclosure Where there is a difference between the fair value and the carrying amount of an entity s type of borrowings, this disclosure can be included in new financial reporting fields that have been opened on the entity templates: The heading to this section can be edited where required and there is the capacity to include disclosure on two types of borrowings. Further text disclosure can be added where applicable to the final financial reporting field in this section. Reckon Limited PAGE 42 OF 74

43 Borrowings Note & Loan Facilities Disclosure Where information is required to be included in the Borrowings note on loan facilities and amounts utilised of these loan facilities, then the relevant disclosure can be included in new financial reporting fields that have been opened on the entity templates: The heading to this section can be edited where required and there is the capacity to include disclosure on two types of loan facilities and the amount utilised. Further text disclosure can be added where applicable to the final financial reporting field in this section. Reckon Limited PAGE 43 OF 74

44 Borrowings Note for a Reporting Entity Three changes have been made to the Borrowings note for a reporting entity in this year s release: The description Total current borrowings and Total non-current borrowings as applicable, is now included in the Borrowings note: Where there are both current and non-current borrowings, then a final total with the description, Total borrowings has also been added in the note. Finally, where the Financial Risk Management note is included in the notes to the financial statements and a table of financial liabilities is included, the note number referencing the Financial Risk Management note is also included. Please note that there have been no changes made to the Borrowings note for a non-reporting entity. Reckon Limited PAGE 44 OF 74

45 Inventories Note The inventories note prints the current asset range of accounts 710 to 729 and in this year s release the non-current range of accounts 840 to 847 are included. Similar to the current range of accounts, where the net realisable value for an inventory account is required to be disclosed in the Inventories note, there are financial reporting fields available on the entity templates to store this value for each account: Income Tax Expense Note Where the Income Tax Expense Note is printed in the year of grace (next year) the descriptions used for the reconciliation items are now sourced from the text stored in the current year in the financial reporting field table. Previously, these text descriptions would have been required to be added into the financial reporting field table set to next year. Please note that where a new reconciliation item is required to be input for year of grace only, then the description for this new item is added into a field where the financial reporting field table has been set to current year. Non-Current Asset Held for Sale Note The Non-Current Assets Held for Sale note has been amended to only include the two accounts, 848 and 849. Reckon Limited PAGE 45 OF 74

46 In addition the note includes two financial reporting fields that are available to add additional information where required: Please note that in the previous release of Xcede Master Sheets and Templates this information would have been included the financial reporting field group Additional Text Disclosure for Each Supporting Note. Profit for the Year note The Profit for the Year note has been amended following the allocation of two accounts, 240 and 241 as superannuation fund expense accounts. Where the Profit for the Year note is printed for a reporting entity, accounts 240 and 241 are disclosed individually along with the three existing superannuation fund expense accounts, accounts 456 to 458: Please see section titled Statement of Profit or Loss on page 35 for more information. INCORPORATED ASSOCIATION Compilation Report Please note that the stored default text stored in the relevant financial reporting field regarding who is responsible for the information contained in the financial statements has been amended to Committee this year. We recommend that you review the text stored on your incorporated association template prior to refreshing any of your association ledgers: Reckon Limited PAGE 46 OF 74

47 CORPORATE TRUSTEE Note 1: Summary of Significant Accounting Policies & Year of Grace Note 1: Summary of Significant Accounting Policies is called from the income statement. Note 1 can be included when printing financial statements for the current year or year of grace (next year). In this release of the Xcede Master Sheets and Templates there is the capacity to use the selections and stored text for a ledger that was used when preparing Note 1 in the current year for a corporate trustee. Accordingly a new financial reporting field has been opened on the trust template: To use this enhancement, simply remove the tick to the left that connects this new financial reporting field to the trust template, and select Yes and save your change. Do not replace the template tick to the left or the changes made to your ledger are lost. IMPORTANT! Where you wish to use current year settings and text when preparing Note 1 in year of grace for all corporate trustees, then we recommend that the trust template is amended prior to refreshing any ledgers. Where the template is amended, replace the tick to the left. Where you do not wish to use this enhancement when generating Note 1 in year of grace and prefer to compile Note 1 from data and text added into fields where next year has been selected in the financial reporting field table, then simply leave the setting as No for this new field. Note 1, Year of Grace & Authorisation of Financial Statements Please note that where date of authorisation of financial statements is required to be included in the year of grace, the authorisation date or alternate text needs to be added in the applicable financial reporting field/s, where next year has been selected in the financial reporting field table. Reckon Limited PAGE 47 OF 74

48 SELF-MANAGED SUPERANNUATION FUND ACCOUNTS CHANGES Audit Report There are three components to the audit report for the self-managed defined contribution superannuation fund: Audit Report: This report has been amended in line with the Thomson Reuters Publication, 2016 XYZ Model Financial Accounts and a pro-forma report from Advance Desktop Super. Appendix to the Audit report: The appendix to assist trustees with the meaning of the legislation and regulations listed in the audit report has been amended in line with the Thomson Reuters Publication, 2016 XYZ Model Financial Accounts and a pro-forma report from Advance Desktop Super. Audit Report Cover Page: The cover page has not been amended in this year s release. Statement of Financial Position In response to a request from users, the statement of financial position available for a selfmanaged defined contribution superannuation fund has been amended this year to allow the reserve range of accounts, 620 to 634 to be included in the equity section, Liability for Accrued Member s Benefits. These accounts can be used where additional balances are required to be shown in the equity section. Each balance displays in the statement of financial position and the net movement for each account during the financial period is detailed in the Liability for Accrued Member s Benefits supporting note. Please be aware that from this release only a discretionary trust type ledger as a corporate trustee for a self-managed superannuation fund is supported. Where any corporate trustee ledgers have been created as unit trusts they can be converted to a discretionary trust by using the conversion routine that is available from the Ledger Details screen. Note 1: Summary of Significant Accounting Policies Income Tax Accounting Policy Note The income tax accounting policy note has been amended in line with the disclosure displayed in the Thomson Reuters Publication: 2016 XYZ Model Financial Accounts for a self-managed superannuation fund. Reckon Limited PAGE 48 OF 74

49 Measurement of Investments Policy Note The Measurement of Investments Policy Note has been amended to replace the alpha character sub references with a dash ( - ). Preparing Year of Grace Financial Statements The financial statements for a self-managed superannuation fund have been upgraded to allow accounts to be generated for the year of grace (next year). Please note that where the following four supporting notes have been selected to be included in the financial statements in the current year then the settings made for the current year are used when printing the financial statements for the year of grace : Guaranteed Benefits Note Income Tax Reconciliation Members Account Supporting Note Vested Benefits Note Where any information is required to be added to financial reporting fields to complete the above notes for the year of grace, then the data is still required to be entered into the financial reporting fields set to N for next year. Reckon Limited PAGE 49 OF 74

50 SECTION 2: THE TEMPLATES All Standard Templates The nine standard templates that accompany the XPA Master Sheet release each year have been amended to update the release date to August 2016 : Master Chart Template & General Ledger Accounts Manufacturing Costs & Superannuation Fund Expense Accounts This year accounts 240 and 241 have been allocated as superannuation fund expense accounts in the Manufacturing Costs range of accounts. These two accounts have been selected for use for this purpose as account range 240 to 249 has previously been blank on the Xcede Master Chart: Reckon Limited PAGE 50 OF 74

51 Inventories & Non-Current Assets Held for Sale Account range 840 to 849 is now classified as non-current Inventories and Non-Current Assets Held for Sale, and the applicable tags in the tag set Chart Section available on the XPA Master Chart have been created or amended accordingly: Entity Templates & Financial Reporting Fields As for previous releases of the templates, changes have been made to the financial reporting fields; many have been amended or deleted; and new ones added. Please refer to the main body of the release notes for full details of changes made to the Xcede Master Sheets and how those changes necessitate the addition or amendment or deletion of financial reporting fields. Detailed here are the main changes made. New Groups of Financial Reporting Fields New Group: Accountant s Report Disclaimer (Section: Text Reports & Declarations) New group of financial reporting fields is available in the section Text Reports & Declarations to support the new Accountant s Report Disclaimer. New Group: Non-Current Assets Held for Sale Print with Current Assets (Section: Statement of Financial Position) New group of financial reporting fields is available in the section Statement of Financial Position to support the facility where the Non-Current Assets Held for Sale can be included in the current assets section or the non-current assets section. Reckon Limited PAGE 51 OF 74

52 New Group: Non-Current Assets Held for Sale (Section: Compliance Notes to Statement of Financial Position) New group of financial reporting fields is available for the supporting note Non-Current Assets Held for Sale. This group stores financial reporting fields than can be used where more disclose is required to be included in this note. Amended Groups of Financial Reporting Fields Amended Group: Compilation Report (Section: Text Reports and Declarations) Amended the group Compilation Report to remove the financial reporting field that was opened last year to control the version of the compilation report that was selected when printing; the report applicable to financial statements that were prepared at 30 June 2015; or the one required for engagements commencing on or after 1 July Amended Group: Management Balance Sheet & Investment in Shares Note (Section: Management Accounts) New financial reporting field available to support an enhancement to allow the detailed movements for a range of accounts to be included in the supporting notes where there is a nil balance at year end. Amended Group: New Accounting Standards for Application in Future Periods Policy Note (Section: Note 1 Significant Accounting Policies) New financial reporting field are available to support disclosure on amendments to the Australian Accounting Standards and their impact on financial statements when these changes are applied in future periods. Amended Group: Associates & Joint Arrangements (Section: Compliance Notes to Statement of Financial Position) A new financial reporting field is available for each of the three associates that allow the type of share interest to be amended as required. Reckon Limited PAGE 52 OF 74

53 Amended Group: Borrowings (Section: Compliance Notes to Statement Financial Position) New financial reporting fields are available to support various changes made to the compliance borrowing note. Amended Group: Inventories (Section: Compliance Notes to Statement Financial Position) New financial reporting fields are available for use where non-current inventories need to be stated at net realisable value. Trust Template Only In addition to the new and amended financial reporting fields common to all entity templates noted above, the following new groups are available or have been amended on the trust template: Amended Groups of Financial Reporting Fields Amended Group: Compilation Report Corporate Trustee (Section: Compilation Report) Amended the group Compilation Report to remove the financial reporting field that was opened last year to control the version of the compilation report that was selected when printing; the report applicable to financial statements that were prepared at 30 June 2015; or the one required for engagements commencing on or after 1 July Amended Group: Note 1 Significant Accounting Policies Corporate Trustee (Section: Corporate Trustee Accounts) New financial reporting field available in the section Note 1 Significant Accounting Policies Corporate Trustee to support the new enhancement where the current year text stored on a ledger can be used when printing Note 1 in year of grace. Reckon Limited PAGE 53 OF 74

54 Amended Group: Directors or Trustee s Declaration (Section: Text Reports & Declarations) Two new financial reporting fields are available in the group Directors or Trustee s Declaration to support the new enhancement where an alternate report heading or a user defined heading is able to be selected where preferred. Superannuation Fund Template Only In addition to the new and amended financial reporting fields common to all entity templates noted above, the following sections or groups have been deleted or amended on the superannuation fund template: Amended Groups of Financial Reporting Fields Amended Group: Compilation Report Corporate Trustee (Section: Compilation Report) Amended the group Compilation Report to remove the financial reporting field that was opened last year to control the version of the compilation report that was selected when printing; the report applicable to financial statements that were prepared at 30 June 2015; or the one required for engagements commencing on or after 1 July Reckon Limited PAGE 54 OF 74

55 SECTION 3: NEW, DELETED & AMENDED XCEDE SHEETS New Sheets Accountants Report Disc.xlsx A new Accountant s Report Disclaimer has been added this year that is available for use where a practice compiles financial information which is not within the scope of a Compilation Engagement. This report is suitable for use on an excluded activity to prepare special purpose financial statements used as a basis to complete an income tax return. Amendment of Existing Sheets Compliance Reports: Large & Small Companies, Discretionary & Unit Trusts, Partnerships & Incorporated Associations AuditReport.xlsx AuditReportPship.xlsx AuditReportTrust.xlsx Balance Sheet OB.xlsx Balance Sheet TP OB.xlsx Balance Sheet TP.xlsx Balance Sheet.xlsx Changes in Equity IA L.xlsx Changes in Equity IA P.xlsx Changes in Equity L.xlsx Changes in Equity P.xlsx Changes in Equity P P.xlsx Changes in Equity T L.xlsx Changes in Equity T P.xlsx Comp Income Statement.xlsx CompReport.xlsx CshFlow.xlsx DeclarPship.xlsx DrDeclar.xlsx DrReport AIFRS.xlsx IAAuditRep.xlsx IACommittee Report.xlsx Income Sment TP UDFF.xlsx Income Sment UDFF.xlsx Income Statement Nil.xlsx Income Statement TP.xlsx Income Statement.xlsx Index.xlsx Amended to remove a reference to the term Continued where any report is more than one page long. Reckon Limited PAGE 55 OF 74

56 Compliance Reports: Large & Small Companies, Discretionary & Unit Trusts, Partnerships & Incorporated Associations AuditorIndDec.xlsx AuditReport.xlsx AuditReportPship.xlsx AuditReportTrust.xlsx CompReport.xlsx IAAuditRep.xlsx Enhanced the signatory section of the report; where the signatory details or the position of the person signing the accounts are not populated then the colon that separates these two pieces of text is not included. Balance Sheet.xlsx Balance Sheet OB.xlsx Balance Sheet TP.xlsx Balance Sheet TP OB.xlsx Added the non-current line item Inventories (account range 840 to 847). Amended the account range that was previously classified as the line item Non-Current Assets Held for Sale. Accounts 848 and 849 comprise this account range. Enhanced to allow the line item Non-Current Assets Held for Sale to be included in non-current assets or current assets by request. The position of this line item is controlled by financial reporting fields. Balance Sheet TP.xlsx Amended an error in the calculation for accumulated losses for a unit trust only. Changes in Equity IA L.xlsx Changes in Equity IA P.xlsx Amended to correct an issue where the Retained Earnings column was omitted where the only balance in the column was the current year profit or the prior year profit. Changes in Equity P.xlsx Amended to correct an issue where a blank column was displayed to the right of the report instead of between the description column and the share capital column where there were no active reserves for the ledger. CompReport.xlsx Amended the output for a sole trader in relation to the embedded owner s name to ensure it is grammatically correct. The owner s name or the name of the business can be added to the Organisation field in File Details for a sole trader. CompReport.xlsx Amended in line with the Thomson Reuters Publication, 2016 XYZ Model Financial Accounts. Removed the section of the report that printed the previous version of APES 315 Compilation of Financial Information. Reckon Limited PAGE 56 OF 74

57 Compliance Reports: Large & Small Companies, Discretionary & Unit Trusts, Partnerships & Incorporated Associations DrDeclarTrust.xlsx Enhanced to allow the report heading to be changed to Trustee Declaration by request where a trust has a corporate trustee. Additionally a user defined heading can be included regardless of whether the trust has a corporate trustee or individual trustee/s. Amended to remove a reference to the term Continued where any report is more than one page long, in the following tabs: HEADER-NOTES1 ; HEADER-NOTES ; HEADER-ONEYEAR1 ; HEADER-ONEYEAR ; HEADER-NOTES PPE ; HEADER-NOTES FIRST ; HEADER-NOTES FIRST2. Headers Footers.xlsx Amended to add the capacity to include reference to the Accountant s Report Disclaimer instead of Compilation Report where required in the following footers: HEADER-NOTES1 ; HEADER-NOTES ; HEADER-ONEYEAR1 ; HEADER-ONEYEAR ; FOOTER ; FOOTER6 ; FOOTER7 ; FOOTER8 ; FOOTER9 ; FOOTER10 ; FOOTER11 ; FOOTER14 ; FOOTER15 ; FOOTER16. Where you have customised headers and/or footers then please note that there may be issues when you upgrade to the new sheets. Income Statement.xlsx Amended to correct an issue where the profit note was incorrectly called for a large non-reporting company with expenses classified by function and cost of goods sold expenses. Income Statement.xlsx Income Statement TP.xlsx Income Sment TP UDFF.xlsx Income Sment UDFF.xlsx Enhanced to allocate two specific accounts as superannuation funds expense accounts to the line item Employees benefits expense when the Statement of Profit or Loss expenses is printed with expenses classified by nature. Accordingly these two accounts are no longer included in the item: Raw material and consumable used or Consumable used when the expenses classification by nature. Index.xlsx Enhanced to include the new Accountant s Report Disclaimer. Amended to remove various content lines that referenced previously deleted compilation reports. Reckon Limited PAGE 57 OF 74

58 Compliance Reports: Large & Small Companies, Discretionary & Unit Trusts, Partnerships & Incorporated Associations Note 1 Non-Reporting AIFRS.xlsx Note 1 Reporting AIFRS.xlsx Note 1 Non-Reporting AIFRS Note 2.xlsx Note 1 Reporting AIFRS Note 2.xlsx Upgraded to include or delete financial reporting fields, in line with the entity templates where default text changes have been made as shown in Thomson Reuters Publication, 2016 XYZ Model Financial Accounts. Amended to correct an issue where the depreciation accounting policy note caused blank pages where the Summary of Significant Accounting Policies were printed in year of grace. Note 1 Non-Reporting AIFRS.xlsx Amended to correct an issue where the depreciation accounting policy note could not be turned off where required. This note is now consistent with all other accounting policy notes. Notes - Assets held for Sale.xlsx Enhanced to included current asset balances where Non-Current Assets Held for Sale are included current assets rather than noncurrent assets. Amended to removed account 840 to 847. Notes - Associates Joint Arrangements Enhanced to allow the type of share interests that an entity owns in an associate to be flexible. Previously, the type of share was fixed as Ordinary. Notes - Beneficiaries Funds Assets.xlsx Notes - Beneficiaries Funds.xlsx Amended to stop a superfluous subtotal from printing in the current account when there is an opening balance and closing balance for a particular beneficiary, but no movements during the year. Notes - Beneficiaries Funds.xlsx Amended to correct the totalling logic. Removed a superfluous blank row. Reckon Limited PAGE 58 OF 74

59 Compliance Reports: Large & Small Companies, Discretionary & Unit Trusts, Partnerships & Incorporated Associations Enhanced to allow the subaccount detail for the hire purchase range of account, both current and non-current to be included in the borrowing note. Enhanced to allow additional disclosure to be included in the section of Carrying amount non-current assets pledged as security, where required. Enhanced to allow headings to be editable where additional disclosure is required to be included in the Borrowings note. Notes - Borrowings.xlsx Enhanced for a reporting entity to add descriptions Total current borrowings and Total non-current borrowings as applicable, and where both current and non-current borrowings, then a final total, Total borrowings is included. Also where the Financial Risk Management note is included and a table of financial liabilities is included, the note number referencing the Financial Risk Management note is included. Enhanced to allow disclosure to be included where there is a difference between the fair value and the carrying amount of an entity s type of borrowings. Enhanced to allow information to be included on loan facilities and amounts utilised of these loan facilities, where required. Amended to correct an issue where a duplicate sub reference printed in the note in certain circumstances. Notes - Contingent Liabilities AIFRS.xlsx Amended to correct an issue where the Rights to be indemnified from the trust's assets balance was not printing in certain circumstances. Amended to remove an obsolete financial reporting field. Notes - Financial Assets AIFRS.xlsx Amended to correct an issue where the sub reference displayed for a group of financial assets was incorrect in certain circumstances. Where the Available for Sale group of financial assets had been impaired to display a nil balance then the correct sub reference was omitted. This issue affected both current and non-current financial assets. Notes - Inventories AIFRS.xlsx Amended the note to include the non-current range of inventories accounts 840 to 847. Additionally the net realisable value for this account range can be included. Reckon Limited PAGE 59 OF 74

60 Compliance Reports: Large & Small Companies, Discretionary & Unit Trusts, Partnerships & Incorporated Associations Notes - Income Tax AIFRS.xlsx Amended to ensure that the applicable weighted average effective tax rates are not printed as a negative percentage. Enhanced to allow the note to be printed in the year of grace (next year) the descriptions using the reconciliation items stored in the current year in the financial reporting fields table. Notes - Profit AIFRS.xlsx Enhanced to include two specific accounts as superannuation funds expense accounts from the manufacturing costs range of accounts to be disclosed with the three existing superannuation funds expense accounts for a reporting entity. Notes - Issued Units.xlsx Amended to correct a sub reference which was missing where disclosure on Capital Management was included in the note, under certain circumstances. Notes - Related Party Transactions AIFRS.xlsx Amended to correct an issue with the titles and sub references in the Transactions with related parties section of the note. Reports for Non-reporting Corporate Trustee Enhanced the signatory section of the report; where the signatory details or the position of the person signing the accounts are not populated then the colon that separates these two pieces of text is not included. CompRepT.xlsx Amended to restore the print quality setting of 600 DPI. Amended in line with the Thomson Reuters Publication, 2016 XYZ Model Financial Accounts. Removed the section of the report that printed the previous version of APES 315 Compilation of Financial Information. BSheetTT AIFRS.xlsx CompRepT.xlsx DrDeclaT.xlsx IndexT.xlsx P&LTTee.xlsX Amended to remove a reference to the term Continued where any report is more than one page long. Note 1 - Non-Reporting Corporate Trustee Enhanced to include the capacity to use the selections and stored text for a ledger that was used when preparing Note 1 in the current year, to prepare Note 1 in the year of grace (next year). Reckon Limited PAGE 60 OF 74

61 Reports for Non-reporting Corporate Trustee Headers Footers Trustee.xlsx Amended to remove a reference to the term Continued where any report is more than one page long, in the following tabs: HEADER-NOTES1 ; HEADER-NOTES ; HEADER-ONEYEAR1 ; HEADER-ONEYEAR. Where you have customised headers and/or footers then please note that there may be issues when you upgrade to the new sheets. Reports for Non-Reporting Defined Contributions Superannuation Funds SFAuditNR.xlsx SFAuditRep Appendix.xlsx Amended in line with the Thomson Reuters Publication, 2016 XYZ Model Financial Accounts. SFComp.xlsx Enhanced the signatory section of the report; where the signatory details or the position of the person signing the accounts are not populated then the colon that separates these two pieces of text is not included. Amended in line with the Thomson Reuters Publication, 2016 XYZ Model Financial Accounts. Removed the section of the report that printed the previous version of APES 315 Compilation of Financial Information. SFComp.xlsx SFFinPositionNR.xlsx SFIndexS.xlsx SFOpStatementNR.xlsx SFTDecNR.xlsx Amended to remove a reference to the term Continued where any report is more than one page long. SFFinPositionNR.xlsx Enhanced to include the reserves range of accounts (620 to 634) in the equity section of the report. Each account is printed individually on the face of the Statement of Financial Position. Amended to remove the section of the report that supported equity for a unit trust. SFNotes - Liability Accrued Benefits.xlsx Enhanced to include the movement of each account individually for the reserves range of accounts (620 to 634) in the note. Reckon Limited PAGE 61 OF 74

62 Reports for Non-Reporting Defined Contributions Superannuation Funds SFNotes - Members Funds.xlsx Amended to remove the member s accounts section of the note that was used for a unit trust. Management Reports ManBs.xlsx ManBS5Yr.xlsx ManBSSub.xlsx Added the non-current line item Inventories (account range 840 to 847). Amended the account range that was previously classified as the line item Non-Current Assets Held for Sale. Accounts 848 and 849 comprise this account range. Amended to correct a spelling mistake. CompReportMan.xlsx Amended the output for a sole trader in relation to the embedded owner s name to ensure it is grammatically correct. The owner s name or the name of the business can be added to the Organisation field in File Details for a sole trader. Enhanced the signatory section of the report; where the signatory details or the position of the person signing the accounts are not populated then the colon that separates these two pieces of text is not included. Amended to remove a reference to the term Continued where any report is more than one page long. IndexMan.xlsx Enhanced to include the new Accountant s Report Disclaimer. Amended to remove various content lines that referenced previously deleted compilation reports. LivestockDiv.xlsx Amended to fix an issue where the division heading for a livestock group was printed incorrectly at the bottom of the previous page instead of top on the current page. Amended to include the capacity to display 'Sales' with nil column balances where a particular division has no income in the current or prior year. Reckon Limited PAGE 62 OF 74

63 Asset Register.xlsx DepnSchBook.xlsx DepnSchBookTax.xlsx DepnSchIn.xlsx DepnSchInAlt1.xlsx DepnSchInAlt2.xlsx DepnSchInLoc1.xlsx DepnSchInLoc2.xlsx DepnSchInMethod.xlsx DepnSchTax.xlsx IndexMan.xlsx Livestock.xlsx LivestockDiv.xlsx ManAppn.xlsx ManBeneficiaries 5Yr.xlsx ManBeneficiaries Funds.xlsx ManBS.xlsx ManBS5Yr.xlsx ManBSSub.xlsx ManDeclarDr.xlsx ManDeclarTrust.xlsx ManDivI&EAcrossL.xlsx ManDivI&EAcrossP.xlsx ManDivTradAcrossL.xlsx ManDivTradAcrossP.xlsx ManDiv.xlsx ManDiv1.xlsx ManDiv13P 2.xlsx ManDiv13P C.xlsx ManDiv13P.xlsx ManDiv2.xlsx ManDiv2Qtr.xlsx ManDivTrading.xlsx ManDivTradingT.xlsx ManGroupBSL.xlsx ManGroupBSP.xlsx ManGroupL.xlsx ManGroupP.xlsx ManGroupTradingL.xlsx ManGroupTradingP.xlsx ManInc&Exp.xlsx ManInc&Exp5Yr.xlsx ManInc&ExpNN.xlsx ManInc&ExpProj.xlsx ManManuf.xlsx ManP&L UDF.xlsx ManP&L.xlsx ManPartners Funds 5Yr.xlsx ManPartners Funds.xlsx ManPL%.xlsx ManPL13.xlsx ManPL4.xlsx ManPL6.xlsx ManPLNN NA.xlsx ManPLNN.xlsx ManPLNNP TYLY.xlsx ManPLNNP.xlsx ManPLQtr.xlsx ManPLSub UDF.xlsx ManPLSub.xlsx ManPLVar.xlsx ManRent.xlsx ManRent5Yr.xlsx ManTrading.xlsx ManTrading5Yr.xlsx ManTradingNN.xlsx ManTradingProj.xlsx TaxRec.xlsx TBal.xlsx TBalSub.xlsx TBalSub12P.xlsx TBalSubP1-6.xlsx TBalSubP7-12.xlsx TrialBalanceLong.xlsx TrialBalBsheet.xlsx TrialBalPL.xlsx Amended the above reports to remove a reference to the term Continued in the heading where any report is more than one page long. Reckon Limited PAGE 63 OF 74

64 Management Reports Added a new header tab for use with the new Accountant s Report Disclaimer HEADER34 Added a new footer tab for use with the new Accountant s Report Disclaimer FOOTER22 Amended to add the capacity to include reference to the Accountant s Report Disclaimer instead of Compilation Report where required in the following footers: Headers Footers - M'ment.xlsx HEADER-NOTES1 ; HEADER-NOTES ; HEADER-NOTESBS ; HEADER-ONEYEAR1 ; HEADER-ONEYEAR ; HEADER- ONEYEARBS ; FOOTER ; FOOTER3 ; FOOTER4 ; FOOTER5 ; FOOTER6 ; FOOTER8 ; FOOTER9 ; FOOTER10 ; FOOTER11 ; FOOTER12 ; FOOTER13 ; FOOTER14 ; FOOTER15 ; FOOTER18 ; FOOTER19 ; FOOTER20 ; FOOTER21. Amended to remove a reference to the term Continued where any report is more than one page long, in the following tabs: HEADER-NOTES1 ; HEADER-NOTES ; HEADER-NOTESBS ; HEADER-ONEYEAR1 ; HEADER-ONEYEAR ; HEADER- ONEYEARBS. Where you have customised headers and/or footers then please note that there may be issues when you upgrade to the new sheets. ManBeneficiaries Funds.xlsx ManBeneficiaries 5Yrs.xlsx M ment Notes - Beneficiaries Funds.xlsx Amended to stop a superfluous subtotal from printing in the current account when there is an opening balance and closing balance for a particular beneficiary, but no movements during the year. ManBeneficiaries Funds.xlsx Amended to correct an alternate title command where the profit or loss allocated to a beneficiary is printed in the report. ManDeclarTrust.xlsx Enhanced to allow the report heading to be changed to Trustee Declaration by request where a trust has a corporate trustee. Additionally a user defined heading can be included regardless of whether the trust has a corporate trustee or individual trustee/s. Reckon Limited PAGE 64 OF 74

65 Management Reports ManBS.xlsx ManDivI&EQtrC.xlsx ManRent.xlsx ManRent5Yr.xlsx ManTrading.xlsx M'ment Notes - Rental Trading.xlsx M'ment Notes - Rental TradingA.xlsx TaxRec.xlsx Amended to restore the print quality setting of 600 DPI. ManBS.xlsx Enhanced the management balance sheet to call a supporting note by request where accounts in the current and non-current shares in companies accounts (ranges 675 to 678 and 794 to 798) have a nil balance at year end. ManBSSub.xlsx Amended to correct a formatting issue where a stray underscore appeared in the Other Assets section when not required. ManDiv2.xlsx ManDiv2Qtr.xlsx ManPLNN.xlsx ManPLSub.xlsx ManPLSub UDF.xlsx Amended to change data capture of account balances where a ledger is generating financial statements for one year only. This change was required to accommodate differences for Xcede.Net. ManPLNN NA.xlsx M'ment P&L - Income Sections - Period TYLY.xlsx M'ment P&L - Income Sections Period.xlsx M'ment P&L - Income Sections Variance.xlsx M'ment P&L - Income Sections.xlsx M'ment P&L - Manufacture - Income Sections.xlsx M'ment P&L - Qtr - Income Sections.xlsx Amended to fix a formatting issue, where stray lines were included in the balances columns in certain circumstances. ManPLNN NA.xlsx M'ment P&L - Income Sections.xlsx Amended to fix a formatting issue, where stray headings were included where a ledger had rental income in certain circumstances. Reckon Limited PAGE 65 OF 74

66 Management Reports M'ment P&L - Income Sections - Period TYLY.xlsx M'ment P&L - Income Sections Period.xlsx Amended to fix a formatting issue, where a blank line printed prior to a subtotal in the rental income section of these reports. Amended to fix an issue where a subtotal balance was not included in the gross profit from rental income section. ManPLSub UDF.xlsx Amended to fix an incorrect note number that was generated in some circumstances. M'ment Notes - Bal Sheet Assets 2.xlsx M'ment Notes - Bal Sheet Assets 3.xlsx Enhanced these two supporting management notes to have the option of displaying the detailed movements for both the current and non-current shares in companies accounts (ranges 675 to 678 and 794 to 798) where the control account has a nil balance at year end. M'ment Notes - Loans Directors.xlsx M'ment Notes - Loans Employees.xlsx M'ment Notes - Loans Holding Company.xlsx M'ment Notes - Loans Other Related Entities.xlsx M'ment Notes - Loans Partners.xlsx M'ment Notes - Loans Subsidiaries.xlsx Enhanced to include a subtotal within these notes where there is more than one balance in the current Loans to and/or Loans from sections and/or the non-current Loans to and/or Loans from sections. M'ment Notes - Livestock TradingA.xlsx M'ment Notes - Livestock Trading.xlsx M'ment P&L - Divisional - Income Sections.xlsx M'ment P&L - Divisional 13 - Income Sections.xlsx M'ment P&L - Divisional Qtr - Income Sections.xlsx M'ment P&L - Income Sections - Period TYLY.xlsx M'ment P&L - Income Sections - Period.xlsx M'ment P&L - Income Sections - Variance.xlsx M'ment P&L - Income Sections.xlsx M'ment P&L - P4 - Income Sections.xlsx M'ment P&L - P6 - Income Sections.xlsx M'ment P&L - P13 - Income Sections.xlsx M'ment P&L - Qtr - Income Sections.xlsx M'ment P&L - Manufacture - Income Sections.xlsx M'ment P&L - Subacct - Income Sections.xlsx Amended to correct the term Natural increase (previously displaying as Nature increase ). Reckon Limited PAGE 66 OF 74

67 Management Reports M'ment Notes - PP&E.xlsx M'ment Notes - PP&E 1Pg.xlsx Amended to add a missing colon at the end of the heading to these management notes. M'ment P&L - Income Sections Variance.xlsx Amended to fix a formatting issue where subtotal overscores were omitted from a line of balances, in certain circumstances. TaxRec.xlsx Amended the taxable income reconciliation statement to include the prior year comparative value column based solely on the setting in the applicable financial reporting field. TrialBalanceLong.xlsx TrialBalBsheet.xlsx Amended to correct a formatting issue where a stray underscore appeared in the Other Assets section when not required. TrialBalanceLong.xlsx TrialBalPL.xlsx Amended to correct a formatting issue where a stray underscore appeared in the Rental section when not required. Reckon Limited PAGE 67 OF 74

68 SECTION 4: MANAGING TEMPLATES & XCEDE MASTER SHEETS This section details how to manage the Xcede general release which includes the Xcede Master Sheets, entity templates, Master Chart template, Group template, Rental template and Division template. Please contact your Reckon APS consultant if you require more information than is contained in this guide. Please make sure that you are able to upgrade your Xcede Masters Sheets and upgrade your customised templates at the same time. Using the new 2016 sheets without upgrading your customised templates and reviewing your customised reports, if any causes issues and errors when you generate your reports. Storing Xcede Sheets & Templates into XPA To store the new templates, first check the location of your Template Files directory by selecting the Files menu, select Setup and Practice Settings. The Xcede Master Sheets are stored in the Sheets directory, and you can check the location of your Sheets directory on the same screen. Xcede Sheets and the Sheets Directory Where you have customised any of your Xcede sheets a full backup of your Sheets directory must be taken prior to installing this Xcede Master Sheets release. You can do this by creating a new directory folder on your system titled say, Backup Sheets Directory August 2016 and storing a copy of your current Xcede sheets there. Providing that you have renamed all of your customised sheets then installing an upgrade of the Xcede Master sheets does not overwrite any changes that have been made to your Xcede sheets. Where you have not renamed sheets that have been customised for your practice then those customised sheets need to be copied back to the Sheets directory from the back-up directory after this upgrade. We also recommend that you review Section 3, New, Deleted and Amended Xcede Sheets on page 52 to be aware of what changes have been made to the XPA Xcede Master Sheets in case those changes are required to be made in any of your customised Xcede sheets. Reckon Limited PAGE 68 OF 74

69 Xcede Sheets: Default Margins & Column Widths In this release of the Xcede Master Sheets, the margins and column widths on all sheets have been adjusted to recover additional printing area. Over many previous releases the margins have been adjusted periodically to accommodate the requirements of various versions of Excel and Xcede, as well as accepted practices such as manual binding of a financial report. There is detailed information available in the body of these release notes to assist with the impact of what these changes mean in practical terms. Where a practice uses the Xcede Master Sheets as released with no customisation to any Xcede sheet then the reports perform as they have in prior years. Where a practice uses customised sheets when generating financial reports, then these customised sheets need to be reviewed and amended as required. Please take a backup copy of your customised sheets before making any changes. Please see information commencing on page 9 for full details regarding the changes to sheet margins and column widths. The Header & Footer Sheets Generally, we recommend that you rename any Xcede sheet when customising them. The exceptions to this are the Xcede sheets that control the headers and footers when printing a financial report. This is because these header and footer sheets are referenced from most of our Xcede Masters Sheets. We do recommend however, that a copy of any customised headers and footers sheets are stored as a back-up away from the Sheets directory. The customised headers and footer sheets need to be restored to the Sheets directory where a new set of Xcede Master Sheets is added. Where you have customised the header and footer files, please check the information below as amendments have been made to these Xcede sheets in this release. The following amendments have been made to the header sheet: Headers Footers.xlsx : Amended to remove a reference to the term Continued where any report is more than one page long, in the following tabs: HEADER-NOTES1 ; HEADER-NOTES ; HEADER-ONEYEAR1 ; HEADER-ONEYEAR ; HEADER-NOTES PPE ; HEADER-NOTES FIRST ; HEADER-NOTES FIRST2. Amended to add the capacity to include reference to the Accountant s Report Disclaimer instead of Compilation Report where required in the following footers: HEADER-NOTES1 ; HEADER-NOTES ; HEADER-ONEYEAR1 ; HEADER-ONEYEAR ; HEADER-ONEYEARBS ; FOOTER ; FOOTER6 ; FOOTER7 ; FOOTER8 ; FOOTER9 ; FOOTER10 ; FOOTER11 ; FOOTER14 ; FOOTER15 ; FOOTER16. The following amendments have been made to the header/footer sheet: Headers Footers - M'ment.xlsx : Added a new header tab for use with the new Accountant s Report Disclaimer HEADER34 Reckon Limited PAGE 69 OF 74

70 Added a new footer tab for use with the new Accountant s Report Disclaimer FOOTER22 Amended to add the capacity to include reference to the Accountant s Report Disclaimer instead of Compilation Report where required in the following footers: HEADER-NOTES1 ; HEADER-NOTES ; HEADER-NOTESBS ; HEADER-ONEYEAR1 ; HEADER-ONEYEAR ; HEADER-ONEYEARBS ; FOOTER ; FOOTER3 ; FOOTER4 ; FOOTER5 ; FOOTER6 ; FOOTER8 ; FOOTER9 ; FOOTER10 ; FOOTER11 ; FOOTER12 ; FOOTER13 ; FOOTER14 ; FOOTER15 ; FOOTER18 ; FOOTER19 ; FOOTER20 ; FOOTER21. The following amendments have been made to the header sheet: Headers Footers - Trustee.xlsx : Amended to remove a reference to the term Continued where any report is more than one page long, in the following tabs: HEADER-NOTES1 ; HEADER-NOTES ; HEADER-ONEYEAR1 ; HEADER-ONEYEAR. Where you have customised header and/or footers then please be aware that there may issues when you upgrade to the new sheets. Customised Entity Templates Where you have customised your templates you first need to upgrade each of your customised templates to the appropriate 2016 standard templates. This needs to be performed prior to the Refreshing of each of your existing ledgers, to be able to use any of the new enhancements we have added this year. Please take a backup copy of your customised templates before upgrading them. Financial Reporting Fields First refresh the financial reporting fields on your customised templates. The Refresh button is located on the financial reporting fields toolbar. Reckon Limited PAGE 70 OF 74

71 You are then asked to select the template from which you want to refresh the financial reporting fields; select the appropriate entity template and click the OK button. Please note: that any changes you have made to the default text or settings on your customised templates last year is not replaced on a refresh of financial reporting fields in this year from the 2016 standard templates. System fields are not amended/updated on a template to template refresh as they are on a template to ledger refresh. Where you have made many changes to the settings and data stored in financial reporting fields on your customised templates and opened practice specific financial reporting fields then you need to review these release notes and check the default data stored meets your reporting requirements when preparing your 2016 financial statements. Where you have made minimal changes to the settings on the table of financial reporting fields and the main reason for maintaining a set of customised templates is to manage your practice jobstreams then we recommend that you do not refresh the financial reporting fields. Rather, re-customise the 2016 XPA templates and re-make any changes to the data and settings stored on financial reporting fields. Review these release notes to see if there are any further settings that need changing or data amendments required to make use of any enhancement included this year. Then re-create the practice specific jobstreams. This method would ensure the 2016 data stored in the financial reporting fields on your customised templates is in line with the data stored on the XPA 2016 templates. Adding the New Xcede Sheets to the Entity Templates New sheets that are added to all Entity Templates In this release there is only one new sheet that needs to be attached to your customised company, trust, partnership, incorporated association and superannuation fund templates: Sheet File Name Description Accountants Report Disc.xlsx A new Accountant s Report Disclaimer has been added this year that is available for use where a practice compiles financial information which is not within the scope of a Compilation Engagement. This report is suitable for use on an excluded activity to prepare special purpose financial statements used as a basis to complete an income tax return. Reckon Limited PAGE 71 OF 74

72 To Add a New Xcede Spreadsheet to the Entity Templates Select the Reporting menu, Spreadsheets and select the Sheets directory in the Directory box in the bottom left hand corner of the Spreadsheets window. A list of available report sheets is displayed in the Files box to the right. Locate the file to be added to the template and highlight it. This example is showing the C:\ drive, but yours will probably be located on your network. Double click the left mouse button to populate the name of the file in the Sheet box. Enter a description that describes as fully as possible the purpose of the spreadsheet. Click the Save button to add the spreadsheet to the entity template. Reckon Limited PAGE 72 OF 74

73 Refreshing Financial Reporting Fields for Existing Ledgers Once you have loaded the 2016 XPA Xcede Master Sheets and templates into their respective directories; upgraded your customised templates (where you have them); then each of your existing ledgers needs to be refreshed against the applicable entity templates. This procedure loads any new or amended financial reporting fields introduced with this release into your ledger, and removes any fields that are no longer required. To Refresh the Financial Reporting Fields You are prompted to refresh the financial reporting fields where there are new financial reporting fields open on the selected default template that are not opened on the ledger. You must perform the refresh function when you select an existing ledger for the first time after loading the 2016 release. To refresh each ledger, select the Reporting menu, followed by Financial Reporting Fields, and click the Yes button on the following information message: The Select Existing XPA File window opens and the default template for the ledger is automatically selected. Click the OK button to select this template or you may change this selection. The screen shot below shows the selection of the Company AIFRS template which would have been the default template for the ledger being processed: The default template is automatically selected for a trust, or partnership, or incorporated association, or superannuation fund for an appropriate ledger in the same way. The refresh function is also going to look at which financial reporting fields are open on the ledger but NOT open on the entity template selected. An Exceptions list displays which includes any financial reporting fields that have been specifically created within your practice for an individual ledger. These financial reporting fields are NOT opened on the template selected to refresh from whether it be a practice-customised template or an XPA Standard Template. Reckon Limited PAGE 73 OF 74

74 Please DO NOT delete any ledger specific financial reporting fields that you have created. Simply click the Continue button to update the financial reporting fields from the new AIFRS template to retain any fields that have been specifically created within your practice. Reckon Limited PAGE 74 OF 74