OLBA Notes re - Complete Year 2016

Transcription

1 OLBA Notes re - Complete Year 2016 Welcome to the notes supporting the 2016 yearend complete year routine for OLBA and your branch s annual financial return. Please take time to read these notes before you start in order to familiarise yourself with the Steps we recommend that you follow before moving onto the OLBA Tasks you will need to complete to register a successful return. Your completed return in compliance with these notes MUST be received by IMPS (address is provided to you at the end of the process) by 5pm on Wednesday 15 th March If at any time you need help or support please only use the dedicated help line numbers as directed below. The notes are extensive but the routine is very straightforward. In simple terms the routine will ensure your OLBA records agree with those we hold nationally. This happens automatically when you complete Task 7 Audit stage. We advise you not to issue any yearend reports to committee members or members of the branch until this task is completed. To start we suggest you follow the steps below and we advise you not to start the complete year procedure until you have undertaken these. Please pay special attention to step 7 and make sure you have this information before moving onto the Tasks; Steps 1. Contact your auditors and agree an audit date that is realistic to both of you. Do not wait until the start of March try and complete the year end as early as you can. 2. Contact all members who may claim expenses to remind them to submit any outstanding claims relating to 2016 as soon as possible. We suggest you give members a cut-off date (required for Task 5) 3. Contact all 3rd parties that have not submitted invoices you know you need to pay relating to e.g. payroll. (required for Task 5) 4. Make sure you secure statements that include transactions up to and including 31 December 2016 for all accounts that you hold (Bank, building society, pre-paid cards, credit cards, etc). 5. Finalise all entries in all your cashbooks for 2016 under the daily accounting tasks in the home screen 6. Make sure you reconcile each account you hold. OLBA requires a final reconciliation that is dated 31 December (and not any other date) before you proceed (this is also task 1.) 7. As part of the complete year routine you will be required to enter Branch funding Information that we will then use to calculate your branch s funding entitlement for The data is mandatory so please read the notes included in task 4 below on branch funding information and make sure you have this information before you proceed further. After step 6 you will see two icons in the home screen as below if you do not see the second it means that step 6 above is not complete (this is also task 1). You cannot continue with the complete year routine until you see both icons. 1

2 Help line numbers OLBA Help Team Sotirios Loizou John Nagle Barry Lyons Neil Francis Odion Edgal IMPS Help Team

3 Tasks Starting your Complete year procedure - 8 tasks Click on the complete year icon This will display the Year End Checklist and alongside each task you will be able to see the current status NOTE that Complete reconciliations is ticked and the next task Confirm Funding Information is in bold text as it is the next task to complete. You do not need to complete these all at the same time but you will need to complete them in the order they are displayed. Also to help you navigate back to the complete year end procedures all OLBA screens will have the icon below located in the top right section. 3

4 Task 1 - Complete reconciliations This task should be ticked if not you will see the following note and below that, a list of the account(s) you still need to reconcile at 31 st December Important Note - each account you hold (even if the account was closed during the year e.g. ALTO cards) must have a reconciliation date of 31 December 2016 even if the balance is zero. 4

5 Task 2 - Confirm Funding Information This task has changed from last year to improve the transparency and accessibility of all funding transactions and information. This is the most important task we ask you to complete; so please take the time to check all the data in each tab for accuracy and completeness. Please note this module is now an integral part of your OLBA records and will be updated quarterly each year (it is located in periodic accounting tasks>budgeting>income and branch funding data.) Therefore you should regularly review the information. To start click on the button This will take you to the new module that has four tabs as follows Tabs 1 and 3 (Funding Payable and Funding Payments are explained below). Tab 2 should contain details of all your subscription income from all sources and Tab 4 is our current prediction for your funding in Tab 1 - This tab has 3 sections and we encourage you to check each section. Please contact the IMPS team in Manchester if there are any inaccuracies or omissions. Also from this tab we have added functionality to enable you to navigate and view data in the next two tabs (but not the last), view how your funding percentage is calculated and a summary of all the deductions made to your funding in Section 1 This is a summary of your branch s income from all sources with a total for our estimated income for 2016 for your branch. We then apply your branch s funding percentage to this figure to determine the Total Branch Funding payable in 2016 for Any OLBA locally collected subscriptions balance at 31 st December 2016 will be included as part of your 2016 funding calculation, which removes the necessity of the branch having to clear the balance by making a cheque payment. In this way your branch s 2016 accounts will include the branch s percentage of this income. If you want to discuss further, contact one of the OLBA help lines). Section 2 This section will show whether the branch has been under or overpaid funding in It takes the Total Branch Funding payable in 2016 for 2016 from section 1 above, adjusted for any adjustments made during the year (you can view a summary of those detailed in funding payments by clicking on 5

6 the link). We then deduct the funding payments made to the branch in 2016 (which you can view by clicking on the link). The balance is an underpayment or overpayment and will be shown in your balance sheet under current assets (underpayment) or current liabilities (overpayment). Section 3 In order to accurately complete your accounts we need to adjust the Total Branch funding payable for We take the estimate we made in your accounts for 2015 and replace this with the actual outturn for the year. The actual outturn for any year only becomes known 4 to 5 months into the following year after all subscription receipts have been received and allocated to branches. You were notified of this by the IMPS team via your 2015 funding statement. This can be viewed in the Supporting Documentation folder (see the button in the top right hand corner of the screen). Tab 3 - We have included details in this tab to ensure that you automatically clear task 6. The monthly branch funding entries you made in your cashbook should exactly match the entries in this screen, rather than just the net amount paid. If you want to amend your records please read the following notes carefully. If not the year end process will update your entries so that you automatically clear task 6. Where deductions have been made from funding in a particular month, the amount paid should be shown in the receipts section of your cash book with two or more analysis rows as appropriate; the full amount of funding credited to the branch should be shown as a positive amount; and any deductions that were made should be shown as a negative amount. For example, say a branch has received 900 in its bank account; and that this comprises 1,000 of current year funding less 50 of prior year funding and less 50 for the annual conference crèche charge. This would be entered into the cashbook as follows: 6

7 Please note if your funding was not paid for one or more months you are not required to make any entries for that month and you should follow the procedure noted below. If you entered in your cash book only the net amount paid, then please follow the procedure noted below. If you entered the adjustments as a payment, please call the OLBA helpline number at the end of these notes. Note What to do if you entered in your cash book only the net amount paid Ideally you should change each monthly entry; but as this will involve a lot of work for you, we suggest that you make an adjustment in December for the year as a whole. If you do want to change each month, use the Expand/Collapse All button in the Funding Payments tab and follow the procedure from 3 onwards. 1. Go to the Funding Payable tab and from the section headed Calculation of underpayment/overpayment click on the link alongside Total adjustments titled and then click on the print Icon. 2. Go to the branch funding entry you made in the receipts section of your cash book for December 2016 (or the relevant month if you are changing each month) and at the end of the entry you will see a pencil icon. 3. If you click on this it will open the screen titled Edit Receipt For Current Account. 4. From the report you printed add up the total net value of deductions. In Edit Receipt For Current Account click on the Add a Row button and enter that total as a positive figure analysed to Branch Funding. 5. Add an analysis row for each deduction on the report and enter the amounts as negative figures. They will mostly need to be analysed to expenditure groups and sub-groups. As you are in the Edit Receipt screen, the groups list will include the income groups only. To 7

8 activate the expenditure groups, go to the bottom of the groups list and select analyse against payment heading. Go back to the groups list: the expenditure groups should now be listed. Then analyse each row as shown on the printed list. When you have completed and you are satisfied everything else is OK click on the Confirm Funding Information button to move to task 3. 8

9 Task 3 - Enter your contact details Contact Details check that the records we hold as your contact details are correct. To display the current details we hold click on All you are required to do is to accept them as correct or amend as appropriate using the buttons below; If you select yes these details are correct you will move to Task 4 if not select these details need to be amended and saved to move to task 4. 9

10 Task 4 - Enter Branch Funding Information Click the button to display the screen below and update from the data you have prepared from step 7 above. Note: - (if you need help with any of these (see below) please contact your region) Number of members enter the number of full members in the branch (as defined by rule C2.3) who are in membership of your branch as at 31 December Retired members are not to be included. Number of employers with at least 5 members enter the group that is relevant for your branch. Geographical Spread enter the distance in miles between the central location and the qualifying workplace address. To establish this mileage take the members at the workplace which is furthest from the agreed central location. If this is 10% of the number of members you entered in 0.1 above then this is the mileage figure you should enter. If not then add the members at the second furthest; and then the third furthest; and so on, until the cumulative number of members reaches 10% and then enter the mileage to that location. After you saved your data you will move to task 5 10

11 Task 5 - Have you entered your accruals Remember Steps 2 & 3, i.e.; 2. Contact all members who may claim expenses to remind them to submit any outstanding claims relating to 2016 as soon as possible. We suggest you give members a cut-off date (required for Task 5) 3. Contact all 3rd parties that have not submitted invoices you know you need to pay relating to e.g. payroll. (required for Task 5) If you have identified any outstanding expenses or bills that relate to 2016, but which have not yet paid by 31 st December 2016, you should enter these using the Add Creditor button below. If you have several to enter use the Save and Insert Another button. If you have identified that the branch is owed any monies at the end of the year that relate to 2016, but which have not yet been received by the branch, enter these using the Add Debtor balance. Finally in this section if you have made advance payments in 2016 for Accommodation/Travel for 2017 Conferences (or any other advance payments) go back to your cashbook and amend the transaction by ticking the PP? Box When you are satisfied you have completed task 5 click on the Accruals Complete button to move to task 6 11

12 Task 6 - Ensure branch funding entries match National Office records If the message below is displayed this means that your OLBA branch funding entries do not match those in task 2(d) above. If you are unable to clear this section we suggest you call the OLBA help team who will be able to assist you. This task will be ticked if everything balances and you will be moved to task 7. 12

13 Task 7 - Audit Stage If you are happy that you have completed all tasks, you can now close your accounts ready for audit you will be at the stage below, so please click on the Yes button. You will then see the box below if you are happy click on the Yes button. No will take you back to the above. You will then move to task 8 below 13

14 Task 8 Finalising your Annual Financial return You will now be in the annual financial section of OLBA. Please note that some branches will be required to enter details of Staff Salaries relating to staff in employment at Rent Free Accommodation Operating Leases Property Operating Leases Other Each will have a red cross alongside if you are required to enter details. Please click on the heading and update using the help notes provided before you pass your accounts to the auditors. DO NOT PROCEED from the screen below until the auditors have completed their work. At this stage you can log out or return to your cashbook for 2016; and you can continue to enter receipts and payments data for If however you want to print reports for 2016 please use Select Year and the year you want to run reports. The extract below is located at the top of each OLBA screen. 14

15 Full functionality for 2017 will be available as and when your completed AFR is received by IMPS in Manchester. If the auditors identify any transaction(s) that need to be reanalysed or to add or change accruals please use the button Amend 2016 Accounts. This will return you back to stage 6 Audit stage. The auditors have been issued with an audit guide. They can now sign off the accounts and print the authorisation sheet, either with you or to forward this to you for you to finalise your AFR. (We recommend you print and sign 3 copies one to send to IMPS, one for your records and one spare in case of postal problems). Follow the final steps and make sure you do complete them. The screen below MUST be completed, by ticking all the boxes; and we suggest you do not press the confirm button until you have posted the data. If you post details after 5 th March we strongly suggest you send by recorded delivery. Please note that s or faxed copies cannot be accepted. Please do not send your original account statements, but you must send the original authorisation sheet. 15

16 Once you have confirmed the AFR, the screen will display these boxes. If this screen is not visible to you, it means that you have not completed something in the form above. When the status changes from Not received to Received, full functionality will be available for your accounts for If this does not happen within 5 working days after posting please call the IMPS help team. Help line numbers OLBA Help Team Sotirios Loizou John Nagle Barry Lyons Neil Francis IMPS Help Team