XCEDE PROFESSIONAL ACCOUNTING. Master Sheets and Templates Release Notes

Transcription

1 XCEDE PROFESSIONAL ACCOUNTING Master Sheets and Templates Release Notes August 2015

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 77

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 MANAGEMENT REPORTS CHANGES... 9 Direct Expenses for Other Farm Income... 9 Management Livestock Reports, Profit and Loss Statements & Supporting Notes Management Profit & Loss Statements: Supporting Note - Account Taxable Income Reconciliation Statement & Trust Distributions Management Trial Balance: TBalSub.xlsx Running a Trial Balance from one Ledger & Importing Entries for Posting into Another Ledger MANAGEMENT & COMPLIANCE REPORTS CHANGES Compilation Reports Applicable to Periods Commencing 1 July Note 1: Summary of Significant Accounting Policies & Year of Grace A Glossary of Terms Alternate Date Format in Text Reports & Declarations & Year of Grace COMPLIANCE ACCOUNTS CHANGES THE PRIMARY STATEMENTS SUPPORTING NOTES SELF-MANAGED SUPERANNUATION FUND ACCOUNTS CHANGES Note 1: Summary of Significant Accounting Policies Annual Fund Information Statement SECTION 2: THE TEMPLATES All Standard Templates Master Chart Template & General Ledger Accounts Entity Templates & Financial Reporting Fields Company Template Only Trust Template Only Superannuation Fund Template Only SECTION 3: NEW, DELETED & AMENDED XCEDE SHEETS New Sheets Deleted Sheets Amendment of Existing Sheets Reckon Limited PAGE 3 OF 77

4 SECTION 4: MANAGING TEMPLATES & XCEDE MASTER SHEETS Storing Xcede Sheets & Templates into XPA Xcede Sheets and the Sheets Directory 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 77

5 RELEASE NOTES XCEDE RELEASE AUGUST 2015 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 2015 in line with the Thomson Reuters Publication: 2015 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 2015 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 2015: 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. Also available for reference is the following Excel Worksheet: Transfer to or from Reserves Coding Matrix 2015.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. Reckon Limited PAGE 5 OF 77

6 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 71. 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 2015 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 2014 customised templates are not overwritten. 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 2015 financial statements. Reckon Limited PAGE 6 OF 77

7 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 2015 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 2015 data stored in the financial reporting fields on your customised templates is in line with the data stored on the XPA 2015 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 57 Section 4 commencing on page 71 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 77

8 SECTION 1: INCLUDED IN THIS YEAR S RELEASEJ The 2015 release of Xcede Master Sheets includes the following features: Upgrade of all relevant sheets used to print compliance financial reports for companies, in line with the Thomson Reuters Publication: 2015 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: 2015 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: 2015 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: 2015 XYZ Model Financial Accounts prepared by ShineWing Australia. Upgrade of all relevant sheets used to print compliance financial reports for nonreporting self-managed defined contributions superannuation funds, in line with the Thomson Reuters Publication: 2015 XYZ Model Financial Accounts prepared by ShineWing Australia. New enhancement that allows the preparer of financial reports to use the selections and stored text for a ledger that was used when preparing Note 1: Summary of Significant Accounting Policies in the current year, when preparing Note 1 for the year of grace (next year). Previously when printing Note 1 for year of grace, users needed to reselect options and add text in financial reporting fields after selecting next year in the financial reporting fields table. All compilation reports updated under APES 315 Compilation of Financial Information, which is effective for engagements to compile financial information commencing on or after 1 July Earlier adoption of this standard is permitted. Where early adoption is not required, compilation reports in line with APES 315 that was issued in 2009 are still available to be used for engagements to compile financial information for the financial year ended 30 June New enhancement for management profit and loss statements and other farm income accounts (account range 170 to 189). There is the capacity to allow direct expenses to be allocated against other farm income by using the last account in this range, account 189, as an expense account. This new enhancement allows direct expenses to be allocated against other farm income and a gross profit calculated. New enhancement available for management reports or supporting notes that print descriptions from the livestock account range, accounts 100 to 169. This enhancement allows users to have the option of over-riding the hard coded descriptions in favour of sourcing the account description directly from the client chart. The taxable income reconciliation statement available for a trust ledger has been amended to allow the distributions to beneficiaries balance to be excluded from taxable income and the calculation of income tax payable, where preferred. Other minor Xcede sheets and templates enhancements and amendments. Reckon Limited PAGE 8 OF 77

9 MANAGEMENT REPORTS CHANGES This section details what enhancements and changes have been made to reports that are included in a management jobstream. Direct Expenses for Other Farm Income There have been many requests to have the capacity to allocate direct expenses against the revenue from Other Farm Income, account range 170 to 189, when printing a management profit and loss statement: Adding the capacity to allocate direct expenses against other farm income brings this range of accounts in line with other groups of accounts such as trading income and rental income. In this release, direct expenses can be allocated against other farm income by using the last account in this range, account 189, as an expense account. Where you choose to use this new enhancement, direct expenses are allocated against other farm income and a gross profit calculated. Then the management profit and loss statement displays the general/overhead expenses. In previous releases any direct expenses may have been included with all other expenditure: Reckon Limited PAGE 9 OF 77

10 A new financial reporting field controls how account 189 is displayed, either as an income account or as an expense account. The default has been set to No so account 189 continues to print as an income account. By selecting Yes in the field above and saving the change, the subaccounts of account 189 are printed as direct expenses against income in accounts 170 to 188 and a gross profit is calculated. Please note that the default text used for the heading Other Farm Income and the heading Less Direct Expenses are stored in glossary items and can be amended where preferred. Please see page 25 for more information. The flexibility provided by using glossary items allows this enhancement to be tailored using terms more applicable to describe the income and/or expenses printed. Reckon Limited PAGE 10 OF 77

11 Please also note that the display of this range of accounts varies from one management profit and loss statement to another. The display above was printed from ManP&L.xlsx with main source of income set to 5. Below is shown the display from ManP&L.xlsx with main source of income set to 1, 2, 3 or 4. Management Livestock Reports, Profit and Loss Statements & Supporting Notes In previous releases of the Xcede Master Sheets, any management report or supporting note that printed descriptions from the livestock account range, accounts 100 to 169, would have displayed account descriptions that had been hard coded into the report; such as Purchases; Opening stock; and Natural increase etc. This was because of the format of the descriptions that are available on the XPA Master Chart. This range of accounts includes the name of the livestock group, and that livestock group name is not necessary to be included in the account description when generating the report: Users may have edited, or prefer to be able to edit, the account descriptions on the client chart on a ledger. Accordingly, in this year's release users have the option of over-riding the hard coded descriptions in favour of sourcing the account description directly from the client chart. Please note that there is no change to the account descriptions on the XPA Master Chart. Reckon Limited PAGE 11 OF 77

12 To have control over which description is used when printing livestock accounts on all livestock reports, profit and loss statements and supporting note, there is a new financial reporting field available on the entity templates. The default has been set to No, so the hard coded account descriptions are used. To print the account descriptions from the client chart, simply remove the tick to the left that connects this new financial reporting field to the template and select Yes. Where the account descriptions from the client chart have been selected in the first financial reporting field shown above, then the title of the livestock group also needs to be added. There are ten new financial reporting fields available for the ten livestock types that are available on the Xcede Master Chart. Add or amend the text accordingly in the field that corresponds with the livestock group/s in use. IMPORTANT! Where you prefer to print account descriptions from the client chart for the majority of ledgers, then we recommend that the applicable template/s are amended prior to refreshing any ledgers. Where a template is amended, replace the tick to the left. Reckon Limited PAGE 12 OF 77

13 This enhancement is available for the following management reports: Livestock Reports: Livestock.xlsx LivestockDiv.xlsx Management Profit & Loss Statements with supporting notes: ManInc&Exp.xlsx ManP&L.xlsx Management Profit and Loss Statements: ManDiv13P 2.xlsx ManDiv2.xlsx ManDiv2Qtr.xlsx ManManuf.xlsx ManPL13.xlsx ManPL4.xlsx ManPL6.xlsx ManPLNN.xlsx ManPLNNP TYLY.xlsx ManPLNNP.xlsx ManPLQtr.xlsx ManPLSub.xlsx ManPLVar.xlsx Superannuation Fund Operating Statement: SFOpStatementNR.xlsx Management Profit & Loss Statements: Supporting Note - Account 045 There are two management profit and loss statements available in Xcede Master Sheets that throw a supporting note automatically where there are active subaccount balances for any account, stored in a ledger; ManP&L.xlsx and ManInc&Exp.xlsx. In previous releases of Xcede Master Sheets, Account 045 did not generate a supporting note in these circumstances. In this release this inconsistency has been addressed and account 045 now generates a supporting note detailing the active subaccount balances where appropriate. Reckon Limited PAGE 13 OF 77

14 Taxable Income Reconciliation Statement & Trust Distributions In response to request from users, the taxable income reconciliation statement available for a trust ledger has been amended this year to allow the distributions to beneficiaries balance to be excluded from taxable income and the calculation of income tax payable, where preferred. A new financial reporting field has been opened on the trust template that controls whether this balance is included or excluded. The default has been set to Yes, so the trust distributions are included. To exclude them simply remove the tick to the left that connects this new financial reporting field to the template and select No. Please note that where you include comparative values in your taxable income reconciliation statement and select No in the new field, then the distributions to beneficiaries balance is excluded for both current and prior year. Where the new financial reporting field is set to the default setting Yes, the distribution to beneficiaries balance is included and the income tax payable reflects the reduction in taxable income: Reckon Limited PAGE 14 OF 77

15 Where the new financial reporting field is set to No, then both the taxable income balance and income tax payable calculation excludes the distribution to beneficiaries balance: IMPORTANT! Where you prefer to exclude the distributions to beneficiaries balance from the taxable income reconciliation statement for the majority of trust ledgers, 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. Reckon Limited PAGE 15 OF 77

16 Management Trial Balance: TBalSub.xlsx The management report, TBalSub.xlsx can be used to print the active subaccounts for a particular ledger in a trial balance format. This Xcede report prints the beneficiary name instead of the subaccount description stored in the client chart for the beneficiaries range of accounts (500 to 529). The trial balance report was amended this year to make the subaccount descriptions for account 502 consistent with the rest of the accounts in this range. In previous releases these subaccounts printed Share of profit or Share of loss, as applicable. Running a Trial Balance from one Ledger & Importing Entries for Posting into Another Ledger A new report (TB Output.xlsx) has been included this year that can be run from one ledger and the results imported into another ledger. The trial balance from the source ledger is output to an Xcede sheet and the balances imported into a second ledger (target ledger). This may assist where an incorrect entity type has been selected when setting up a new ledger, for example. Create a new ledger, select the correct entity type and import the balances. When using this report, please note the following: Where there are fixed asset balances and you intend to maintain an integrated asset register then the balances in the fixed assets range of account (733 to 779) should be recoded to account 970, Asset suspense. It is recommended that the accounts and the account descriptions on the client chart on the target ledger are the same as the client chart on the source ledger. On a newly created ledger you can delete all inactive accounts, which reduces the client chart to the minimum number of accounts required on a ledger. Then transfer all accounts from source ledger to the target ledger. Where the target ledger is a trust or partnership then the setup of target ledger should be completed prior to commencing this import process. Ensure the details for all beneficiaries or partners have been entered into the target ledger. Where a profit distribution has been made to any beneficiaries in the source ledger then the distribution should be removed by clicking the Clear button on the Profit Distribution form. Reckon Limited PAGE 16 OF 77

17 Where you have a periodic ledger and you have processed more than one period, you may wish to capture the balances for each period separately. Where this is the case, the required steps need to be performed for each period separately. Please see the accompanying document XPA - Producing Financial Statements.docx for full details of the steps required to complete the process. 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. Compilation Reports Applicable to Periods Commencing 1 July 2015 Accounting Professional & Ethical Standards Board Limited (APESB) has issued APES 315 Compilation of Financial Information, which is effective for engagements to compile financial information commencing on or after 1 July Earlier adoption of this standard is permitted. Accordingly, the compilation reports included in Xcede Master Sheets have been amended based on the re-issued APES 315 Compilation of Financial Information. These compilation reports are applicable to reporting periods commencing on or after 1 July 2015 and are therefore required where a practice is preparing interim accounts during the 2016 financial year. As noted, the standard also provides for early adoption. Where early adoption is not selected, the compilation reports included in last year s release (which are in line with APES 315 that was issued in 2009) are still applicable for engagements to compile financial information for the financial year ended 30 June To support the compilation report issued under APES 315 Compilation of Financial Information in 2009 as well as the re-issued report in 2015, the following four compilation reports are available: Compliance compilation report, CompReport.xlsx : Used when printing both reporting and non-reporting compliance financial statements for a company, trust, partnership and incorporated association; Management compilation report, CompReportMan.xlsx : Used when printing nonreporting management financial statements for a company, trust, partnership or incorporated association; Non-Reporting Corporate trustee company compilation report, ComRepT.xlsx ; and Superannuation fund compilation report, SFComp.xlsx. APES 315 Compilation of Financial Information effective for engagements commencing on or after 1 July 2015 refers to applying expertise in accounting and/or financial reporting, however the accountant is not required to verify the accuracy or completeness of the information provided by a client. Accordingly, an assurance disclaimer has been included in the re-issued compilation reports. Reckon Limited PAGE 17 OF 77

18 To control which version of the compilation report is printed with a set of financial statements, a new financial reporting field has been opened on the entity templates. The default has been set to No, and therefore the compilation report issued under APES 315 in 2009 is printed. Select Yes in this new financial reporting field and save the change to include the compilation report under APES 315 issued in The inclusion of an assurance disclaimer at the bottom of the report has meant that the compilation report just fits on a single page for the average ledger. A long entity name and two additional heading lines may be enough to force the signature section onto a second page. Where a compilation report runs to two pages, the organisation name, optional four heading lines and ABN/ACN that print at the top of the page prior to the start of the compilation report can be excluded, where required. A new financial reporting field controls the inclusion of these heading lines. The default has been set to Yes to include all heading lines when printing the compilation report. Where the company name and ABN/ACN are required at the top of the page then the setting in the new field detailed in the paragraph above is kept as Yes. However, the four optional heading lines added in File Details under the Reporting button can be excluded when printing the report. A further financial reporting field has been opened that controls the inclusion of these optional heading lines. The default has been set to Yes to include all heading lines when printing the compilation report. In these circumstances, the name of the entity and the ABN/ACN number are the only two heading lines to print. Additionally, the practice address lines can be excluded where required, as a further measure to fit the compilation report to a single page. A new financial reporting field controls the inclusion of these address lines. The default has been set to Yes to include the practice address when printing the compilation report. Finally, where a Note Regarding Basis of Accounting is required to be included when preparing the compilation report for periods commencing on or after 1 July 2015 then the applicable text is added to a new financial reporting field. Please note that this additional disclosure is available for both versions of the compilation report. Reckon Limited PAGE 18 OF 77

19 Printing the New Compilation Report Simply select Yes in the first financial reporting field to print the compilation report under APES 315 issued in 2015: Reckon Limited PAGE 19 OF 77

20 Excluding Heading Lines To exclude all heading lines for a ledger: Simply select No in the second financial reporting field and save the change: To exclude the four optional heading lines that have been added in File Details under the Reporting button for a ledger: Ensure the second financial reporting field is set to Yes and select No in the third financial reporting field and save the change: Please note that the heading lines can be excluded from both versions of the compilation report. Additionally, please note that the optional exclusion of the heading lines is not applicable for the non-reporting corporate trustee company compilation report. Reckon Limited PAGE 20 OF 77

21 Excluding Practice Address Lines To exclude the practice address when printing the compilation report: Simply select No in the financial reporting field shown below and save the change: Please note that the practice address can be excluded from both versions of the compilation report. Additionally, please note that the optional exclusion of the address lines is not applicable for the non-reporting corporate trustee company compilation report. Reckon Limited PAGE 21 OF 77

22 Note 1: Summary of Significant Accounting Policies & Year of Grace Note 1: Summary of Significant Accounting Policies is called from the income statement or from various management reports. Note 1 can be included when printing financial statements for the current year or year of grace (next year). Previously when printing Note 1 for year of grace, users needed to re-select options and add text in financial reporting fields after selecting next year in the financial reporting fields table. 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. Accordingly a new financial reporting field has been opened on each of the entity templates: To use this enhancement, simply remove the tick to the left that connects this new financial reporting field to the entity templates, and select Yes and save your change. Do not replace the template ticks 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 ledgers for one or more entity types, then we recommend that the applicable template/s are amended prior to refreshing any ledgers. Where a 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. Please note that this enhancement is not available for a non-reporting corporate trustee and a self-managed superannuation fund when printing Note 1. 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 22 OF 77

23 Note 1, Year of Grace & Comparative Figures Policy For a ledger accounting for its first year of trading in the current year: where the Comparative Figures policy is required in year of grace, this policy needs to be set to Yes where current year has been selected in the financial reporting field table prior to generating note 1. Note 1, Year of Grace & New and Amended Accounting Policies Adopted Policy Finally, please note that where there has been a change in accounting policy in the current year and the following group of financial reporting fields have been utilised in the current year, the New and Amended Accounting Policies Adopted by the Entity policy is not included when printing Note 1 in the year of grace for a ledger, as it would not be applicable. Where a change in accounting policy is required in year of grace then the policy would need to be turned on and the relevant data added to the applicable financial reporting fields where next year has been selected in the financial reporting field table. Note 1, Basis of Preparation & Note 2 Accounting Policies & Year of Grace Where a practice is using Note 1 to disclose basis of preparation and Note 2 to disclose accounting policies then Yes would have been selected in the financial reporting field shown below: By using this new enhancement, the selections and stored text for a ledger that were used when preparing Note 1 and Note 2 in the current year are able to be printed when preparing accounts in the year of grace. Reckon Limited PAGE 23 OF 77

24 Please note that where you do not wish to use this enhancement when generating Note 1 and Note 2 in year of grace, then data and text is required to be added into the financial reporting field table in next year. Where no data or text has been added then only the note heading Basis of Preparation is printed. A Glossary of Terms The section titled Glossary includes a group of financial reporting fields used with compliance financial statements: This Glossary facility allows a limited number of terms to be amended without having to create a customised or additional report. The default text stored in the individual financial reporting fields has previously been used in the appropriate reports, so unless you decide to make changes to this text, you should not notice any difference in the reports. We recommend that any changes made to the default text are not made using upper case. Where upper case is required then the report that prints the text ensures upper case is used. Proper case or sentence case or lower case should be used as appropriate. IMPORTANT! Please note that changes made to the text stored in the glossary can be made and applied ledger by ledger as required. Where you wish to make text changes and apply these changes to all ledgers then we recommend that the relevant entity templates are amended after upgrade and prior to refreshing any ledgers. Reckon Limited PAGE 24 OF 77

25 A Glossary of Terms & Management Reports Amending the Term Other Farm Income & Heading Direct Expenses : Profit & Loss Statements A new enhancement included this year allows direct expenses to be allocated against revenue from Other Farm Income, account range 170 to 189. The term Other Farm Income which prints as the heading and as part of the subtotal text, and the heading Less Direct Expenses print in the profit and loss statement where this new enhancement is selected can be amended as required. To give greater flexibility to this enhancement, two new glossary items are available on the entity templates in the group Management Financial Statement. Where you wish to amend the term Other Farm Income and/or the heading Less Direct Expenses, simply remove the tick to the left that connects these two glossary fields to the entity templates, and make the required amendment. Save any changes made. Do not replace the template ticks to the left or the changes made to your ledger are lost. IMPORTANT! Where you wish to add alternate text to all ledgers for one or more entity types, then we recommend that the applicable template/s are amended prior to refreshing any ledgers. Where a template is amended, replace the tick to the left. Alternate Date Format in Text Reports & Declarations & Year of Grace On both management and compliance text reports there are two methods of including a date on the bottom of a report: There is the standard date format where the date is added to a financial reporting prior to printing. There is also an alternate date format that allows any text report to be dated by hand when the report is signed. Reckon Limited PAGE 25 OF 77

26 The second date format allows the default text that prints in the various reports to be amended or deleted as required. The selection of this date format and default text is controlled by financial reporting fields. The following screen shot shows the financial reporting fields available on the company template for the directors declaration: Similar fields are available on all entity templates to support the other declarations. Previously when printing a declaration for year of grace, users needed to re-select the option to include the alternate date format and add the required text in financial reporting fields after selecting next year in the financial reporting fields table. 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 in the current year. This following compliance and management text reports have been amended accordingly: Company: AuditorIndDec.xlsx AuditReport.xlsx DrDeclar.xlsx DrReport AIFRS.xlsx ManDeclarDr.xlsx Trust: AuditReportTrust.xlsx DrDeclarTrust.xlsx ManDeclarTrust.xlsx Incorporated Association: IAAuditRep.xlsx IACertificate.xlsx IACommittee Report.xlsx Partnership: AuditReportPship.xlsx DeclarPship.xlsx ManDeclarPartner.xlsx Non-Reporting Corporate Trustee: DrDeclaT.xlsx Superannuation Fund: SFAuditNR.xlsx SFTDecNR.xlsx Please note that this facility was previously made available for the compliance and management compilation reports. Reckon Limited PAGE 26 OF 77

27 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 Directors Report A minor change has been made to the signature section of the report. It now states This directors' report is signed in accordance with a resolution of the board of directors. Primary Statements & Associates and Joint Arrangements Included in the Xcede Master Sheets this year is a supporting note titled Associates and Joint Arrangements. This note combines and expands the disclosure previously made in three notes; Investments Accounted for Using the Equity Method note; Associated Companies note; and Joint Venture Operations note. In previous releases, financial reporting fields were available to support disclosure on investment in associates. Some of that disclosure and the applicable financial reporting fields were included in the primary statements. Accordingly, the following primary statements have been amended to remove these obsolete financial reporting fields: All Balance Sheets; All Statements of Profit and Loss; and All Statements of Changes in Equity.v This year where disclosure is required to be included on associates and joint arrangements, journal entries need to be input into the general ledger to reflect any balances in the financial statements. Next financial reporting fields are available to construct and complete the Associates and Joint Arrangements note. Please see page 31 for information on completing the supporting note. Master Chart Template & Associates and Joint Arrangements As noted journal entries need to be input to include disclosure on associates and joint arrangements in the primary statements. An account has been allocated on the Master Chart Template, Account 225, Share of net profits of associates and joint venture entities, as the specific income account that should be used where disclosure on associates and joint arrangements is required to be included on the face of the Statement of Profit or Loss: Please note that we are aware that account 225 may currently be allocated on a client chart or practice master chart, and therefore would be printed incorrectly on the Statement of Profit or Loss. Accordingly a restriction has been placed on the usage of this account and it is only printed separately to all other revenue accounts on the Statement of Profit or Loss where the Associates and Joint Arrangements note has been included in the notes to the financial statements. Where this disclosure is not required then account 225 can be used as any other revenue account. Reckon Limited PAGE 27 OF 77

28 Extract from the trial balance for Niphredil Pty Ltd: Please note that account 225 is already open and active on the client chart. Where the financial reporting field that controls the inclusion of the Associates and Joint Arrangements note is set to No then the balance in account 225 is included with all other relevant income on the Statement of Profit or Loss. Where disclosure on associates and joint arrangements is included in the financial statements then Yes has been selected in the financial reporting field above. This setting ensures that account 225 is printed separately on the face of the Statement of Profit or Loss Ensure the description on account 225 is correct where this account is printed separately. Reckon Limited PAGE 28 OF 77

29 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: 2015 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: 2015 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: Financial Instruments Policy Note (Classification and Subsequent Measurement) Impairment of Assets Income Tax Expense 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. Reckon Limited PAGE 29 OF 77

30 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 Goods and Services Tax Policy Note Financial Instruments Policy Note B: Interests in Joint Arrangements Policy Note An Interest in Joint Arrangements policy note is included in Note 1 this year. A new group of financial reporting fields has been opened on the entity templates in the section Note 1: Significant Accounting Policies to support any required disclosure. Default text has been added to most of these new fields, which can be amended to suit the ledger as required. The Interests in Joint Arrangements policy can be included when generating Note 1 by request; however, the default has been set to No, so the policy is excluded. To include the new policy, simply remove the tick to the left that connects this new financial reporting field to the template in the first financial reporting and select Yes. In line with all other accounting policies, the title for the policy can be amended where applicable. Review and amend the default text as required, in the same way. Save any changes made. Do not replace the template tick to the left or the changes made to your ledger are lost. Finally, there is a blank financial reporting field that can be used to include additional disclosure on interests in joint arrangements where required. Reckon Limited PAGE 30 OF 77

31 C: 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 2015 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. D: Revenue and Other Income Policy Note Further to the Interest in Joint Arrangements policy note being optionally included, disclosure on dividends received from associates and joint ventures can also be optionally included. Two new financial reporting fields have been opened on the entity templates in the group Revenue and Other Income Policy Note. The default has been set to No, so the disclosure is excluded. To include the disclosure on dividend, simply remove the tick to the left that connects the appropriate financial reporting field to the template and select Yes. Review and amend the default text as required and save any changes made. Do not replace the template tick to the left or the changes made to your ledger are lost. Associates and Joint Arrangements Note General Information Included in this release of the Xcede Master Sheets and Templates is the Associates and Joint Arrangements note. The note combines and expands the disclosure previously made in three notes; Investments Accounted for Using the Equity Method note; Associated Companies note; and Joint Venture Operations note. This note discloses information about principal joint operations and about principal associates and joint ventures; commitments and contingent liabilities in respect of associates; commitments and contingent liabilities in respect of joint ventures; summarised financial information for associates and/or joint ventures. Reckon Limited PAGE 31 OF 77

32 The details required to construct the note are added to financial reporting fields opened for this purpose on each of the entity templates. Please note that for this note there are three groups of financial reporting fields: The first group contains the financial reporting fields that support all general text disclosure for associates and joint ventures except the information that is specific to a particular associate or joint venture; The second group stores the financial information peculiar to each associate or joint venture; and The third group stores the financial information regarding principal joint operations only. This section of the note has a group of fields available that are separate from the fields required to be completed for an associate or joint venture. There are up to six sections that can be included in the note that may be applicable to the ledger; information about principal joint operations; information about principal associates and joint ventures; commitments and contingent liabilities in respect of associates; commitments and contingent liabilities in respect of joint ventures; summarised financial information for associate/s; and summarised financial information for joint venture/s. The note details information on joint operations as well as information on up to three associates or joint ventures. Where information is required to be disclosed on associates and/or joint ventures, the specific information should be added first Financial Information for Associates & Joint Ventures The financial information for up to three associates or joint ventures is added to the second group of financial reporting fields associated with the note: Reckon Limited PAGE 32 OF 77

33 The following two screen shots shows fields available for the first associate or joint venture; which are common to both types of entities: Add the name of the first associate or joint venture. Select Yes where the first entity is an associate or select No where a joint venture. Next add the place of incorporation for the associate or joint venture. Where the place of business is separate to the place of incorporation, the place of business can be added. Add the proportion of ordinary share interests/participating share for the associate or joint venture and add the percentage for the investment in the both current and the prior year. The measurement method for the associate or joint venture is added along with the carrying amount of the associate or joint venture. There are two financial reporting fields available that can be used to store information on the first associate or joint venture. Information such as a description of the associate or joint venture; strategic reason for investment; etc., should be added into these two fields. Disclosure can be added for up to two items of capital expenditure. Add the text description and amount for each of the applicable capital expenditure items. Disclosure can be added for up to three contingent liabilities. Add the text for each of the applicable contingent liabilities. This text disclosure can be of a minimal amount, or there may be a few paragraphs required to explain the particular contingent liability. An optional value for the contingent liability can be added where required. Reckon Limited PAGE 33 OF 77

34 The balances for the summarised financial position for the first associate or joint venture are added to the four fields indicated above. The balances for the summarised financial performance for the first associate or joint venture are added next. Finally to complete this section, there are fields available to complete the reconciliation to carrying amounts where those balances have not been previously added. For a joint venture there is more information required to complete the summarised financial information section. The following fields are available for the first joint venture only: There are three more balances required to complete the summarised financial position section. There are a number of balances required to complete the summarised financial performance section. The two screen shots above shows the fields available for each of the three associates or joint ventures that can be included in the Associates and Joint Arrangements note. Reckon Limited PAGE 34 OF 77

35 Constructing the Associates and Joint Arrangements Note There are up to six sections that can be included in the note that may be applicable to the ledger, so the information provided below has been divided into these sections. Information about principal joint operations; Information about principal associates and joint ventures; Commitments and contingent liabilities in respect of associates; Commitments and contingent liabilities in respect of joint ventures; Summarised financial information for associate/s; and Summarised financial information for joint venture/s. Please note that the inclusion of the Associates and Joint Arrangements note as a whole is controlled by one field. The six sections of the note detailed above can be separately included or excluded as required. To include any disclosure on associates and joint arrangements, select Yes in the first financial reporting field: The title of the Associates and Joint Arrangements note can be amended where required, to reflect the disclosure made in the note. Information about Principal Joint Operations The particular financial reporting fields that support disclosure on principal joint operations are stored in the third group of financial reporting fields. Creating a separate group of fields allows the disclosure principal joint operations, where required to be easily completed: This section of the note can be included by selecting Yes in the applicable financial reporting field. Remember to turn on the note as a whole also. Review the title for this section and amend where required. There are four financial reporting fields available to include text disclosure on this item. Reckon Limited PAGE 35 OF 77

36 Where the entities share of assets employed in the joint operation is to be included in this note, the information and applicable balances are added to the relevant financial reporting fields: Where details of the entity s share of assets employed by the joint venture are included then a default text paragraph is printed. This paragraph can be amended as required. The details for up to five current assets can be added. For each current asset add the name of the current asset as well as the value. The details for up to five non-current assets can also be added, along with the details of any applicable provision accounts. For each non-current asset add the name of the non-current asset as well as the value. Similarly add/review the title and value for the provision account, if any. Reckon Limited PAGE 36 OF 77

37 Finally for this section, the details for up to two current liabilities and/or up to two non-current liabilities can be added. For each current liability add the name of the liability as well as the value. Information about Principal Associates and Joint Ventures The second part of the note is available to disclose information about principal associates and joint ventures, where required: This section can be included by selecting Yes in the applicable financial reporting field, or this section of the note can be excluded without removing the default text (the note as a whole needs to be turned on also). The heading to this section can be amended where required. Next is a financial reporting field that contains default text. This text can be amended or removed as applicable. Where further text disclosure is required, there is a second field available. A further financial reporting field is available for text to be input that is printed at the end of this section of the note. Please note that there are various pieces of information that need to be added for an associate and/or a joint venture to complete this section of the note. Information including the name of the associate or joint venture; and carrying amount of the investment at period end. The financial reporting fields that are specific to a particular associate or joint venture were detailed earlier starting on page 32. Reckon Limited PAGE 37 OF 77

38 Commitments & Contingent Liabilities in Respect of Associates The next section of the note details information on commitments and contingent liabilities in respect of associates: As for previous sections, this section can be included by selecting Yes in the applicable financial reporting field, or this section can be excluded without removing any default text. The heading to this section can be amended or removed as appropriate. Where there are capital commitments but no contingent liabilities for the associates, then the heading should be amended as applicable and vice versa. The default text stored in the next financial reporting field regarding capital commitments can be amended or removed as required. There is an additional financial reporting field available that can be used where further disclosure on capital expenditure is required. The default text stored in the next financial reporting field regarding contingent liabilities can be amended or removed as required. There is an additional financial reporting field available that can be used where further disclosure on contingent liabilities is necessary. Please note that the detail regarding capital expenditure and contingent liabilities for an associate, where required, needs to be added for an associate and/or a joint venture to complete this section of the note. The financial reporting fields that are specific to a particular associate or joint venture were detailed earlier starting on page 32. Commitments & Contingent Liabilities in Respect of Joint Ventures The fourth part of the note Associates and Joint Arrangements details information on commitments and contingent liabilities in respect of joint ventures. The financial reporting fields that the support this disclosure are used in exactly the same way as described in the previous section (Commitments & Contingent Liabilities in Respect of Associates). The fields available for commitment and contingent liabilities for joint ventures are shown below: Please note that the detail regarding capital expenditure and contingent liabilities for a joint venture, where required, needs to be added for an associate and/or a joint venture to complete this section of the note. The financial reporting fields that are specific to a particular associate or joint venture were detailed earlier starting on page 32. Reckon Limited PAGE 38 OF 77

39 Summarised Financial Information for Associates The fifth part of the note details summarised information on associates. As noted previously, there is capacity to add data on up to three associates (or joint ventures) and these fields were detailed earlier starting on page 32). The following financial reporting fields complete this section of the note. As for previous parts of the note, this section can be included by selecting Yes in the applicable financial reporting field, or this section can be excluded without removing the default text or any data that has been added. There is a heading available that can be edited as required. There is a financial reporting field that has default text stored that can be amended as required and a further field where another paragraph of text can be added to complete any disclosure. Reckon Limited PAGE 39 OF 77

40 Summarised Financial Information for Joint Ventures The last part of the note details summarised information on joint ventures. The following financial reporting fields are available to complete this section of the note and are used in exactly the same way as described in the previous section (Summarised Financial Information for Associates). The fields available to complete the section on summarised information on joint ventures: Associates and Joint Arrangements & Operating Segments Note At the end of the Associates & Joint Arrangements: General Disclosure on Associates & JVs group of financial reporting fields are a number of fields that are available for use where disclosure on associates and joint arrangements is required to be included in the Operating Segments note. There are financial reporting fields available to store data required to be included in the segment performance section of the Operating Segments note. Simply check the description and amend as appropriate, and add the required amounts into the relevant fields. There are also financial reporting fields that can be used to store data required to be included in the segment assets section. Again, check the description and amend as appropriate, and add the required amounts into the relevant fields. Additional Disclosure required for Associates and Joint Arrangements Finally, there is a financial reporting field available for use where any additional text disclosure is required to complete this note. Reckon Limited PAGE 40 OF 77

41 Obsolete: Investments in Associates Note As noted above the Associates and Joint Arrangements note combines and expands the disclosure previously made in three notes; Investments Accounted for Using the Equity Method note; Associated Companies note; and Joint Venture Operations note. Accordingly the Xcede Master Sheets required amendment to remove disclosure previously included in various supporting notes based on obsolete financial reporting fields. The following notes have been amended to remove previously required disclosure: Capital and Leasing Commitments; Cash Flow; Contingent Liabilities and Contingent Assets; First Time Adoption of AIFRS; Retained Profits; and Reserves. The following notes have been deleted: Investments Accounted for Using the Equity Method; and Investment in Associates. The Revenue note required amendment to include a change as a result of the new Associates and Joint Arrangements note being included in this year s release. Income Tax Expense Note Two changes have been made to the Income Tax Expense note in this year s release: 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. Reckon Limited PAGE 41 OF 77

42 Additionally, where the first financial reporting field shown below has been set to Yes to enable the tax effect component is to be added by the user, the descriptions used where printing the note in year of grace are now sourced from the descriptions stored for the current year. Interests in Subsidiaries Note The Interest in Subsidiaries note has been included in this year s release of the Xcede Master Sheets and Templates, and discloses information where relevant on principal subsidiaries; whether there are significant restrictions on access to assets or ability to settle liabilities; acquisition and/or disposal of controlled entities; transactions with non-controlling interests; and summarised financial information of subsidiaries of material non-controlling interests. The details required to construct the note are added to financial reporting fields opened for this purpose on each of the entity templates. The note can be included by selecting Yes in the first financial reporting field in the group Interests in Subsidiaries : There are many fields available to complete the note, so the information provided below has been divided into six sections. Reckon Limited PAGE 42 OF 77

43 Information about Principal Subsidiaries The first part of the note allows information to be disclosed on principal subsidiaries: This section can be included by selecting Yes in the applicable financial reporting field. The heading to this section can be amended as appropriate. Review the default text and amend as required. Add the name of each subsidiary, principal place of business, ownership interest held and proportion of non-controlling interests. Details on up to five subsidiaries can be added. There is an additional financial reporting field available that can be used where further disclosure on principal subsidiaries is required and there a further text statement that can be amended where required. Significant Restrictions There are financial reporting fields available in this section to allow disclosure to be made on whether there are significant restrictions over the company s ability to access or use assets, and settle liabilities: Selecting Yes in the first financial reporting field to include this section. The heading to this section can be amended where required. There is a financial reporting field that has default text stored, which can be amended as applicable. The relevant disclosure on significant restrictions can be added to the four fields available for this purpose. Reckon Limited PAGE 43 OF 77

44 Acquisitions of Controlled Entities The next section of the note details the acquisition of controlled entities where they occurred during the financial period: This section can be included by selecting Yes in the applicable financial reporting field. The heading to this section can be amended as appropriate. Enter text disclosure to be printed prior to the purchase consideration items, as required The description and amount for up to nine purchase items can be added to financial reporting fields available. Enter each purchase consideration item as a positive number and each item that reduces the purchase consideration as a negative number. There are seven financial reporting fields available that are used to complete the disclosure on acquisition of controlled entities. Reckon Limited PAGE 44 OF 77

45 Transactions with Non-controlling Interests Transactions with non-controlling interests are added to the applicable financial reporting fields where this section of the note is required: This section is included by selecting Yes in the applicable financial reporting field. The heading to this section can be amended as appropriate. Enter text disclosure to be printed prior to the purchase consideration items, as required The description and amount for up to five purchase items can be added to financial reporting fields available. Enter each purchase consideration item as a positive number and each item that reduces the purchase consideration as a negative number. Additional text disclosure can be added which is printed after the purchase consideration items, where relevant. Disposal of Controlled Entities Where a controlled entity has been disposed of during the year disclosure can be included by selecting Yes in the applicable financial reporting field. Then check the default heading and amend as required before adding the required text disclosure to the two financial reporting fields available for this purpose: Reckon Limited PAGE 45 OF 77

46 Summarised Financial Information of Subsidiaries with Material Non-controlling Interests The final section of the note details information on summarised financial information of subsidiaries with material non-controlling interests: This section is included by selecting Yes in the applicable financial reporting field and the heading to this section can be amended or removed as appropriate. There is a financial reporting field that prints before the detailed information on subsidiaries. Review the default text and amend as required. Next the financial data is added for the up to two subsidiaries. Firstly add name of the subsidiary and the applicable summarised financial position balances. Finally, add the applicable summarised financial performance balances and statement of cash flows balances. The same fields shown above for subsidiary 1 are available for subsidiary 2. Parent Information Note In this release there is a new supporting note available for a company ledger only. The Parent Information note can be included in a set of financial statements where required for a company. The note is constructed using financial reporting fields, as the information is not available in the particular company ledger. A new group of financial reporting fields has been opened on the entity templates to support any required disclosure. The Parent Information note generates following Note 1, so the applicable financial reporting fields are included in the section Compliance Notes: Statement of Profit or Loss & Comprehensive Income. Reckon Limited PAGE 46 OF 77

47 The Parent Information note can be included when generating an income statement by request; however, the default has been set to No, so the note is excluded. To complete and include the new note: Remove the tick to the left that connects the first financial reporting field to the template and select Yes. Review and amend as required the default text in the second financial reporting field. Add the balances for current assets, non-current assets, current liabilities, non-current liabilities, issued capital and retained earnings, as appropriate. Where information on reserves needs to be included for the parent entity, add a description of the reserve as well as the balance for each reserve. Add the balances for total profit and total comprehensive income, as appropriate Where text disclosure on additional items, such as contingent liabilities is required, add a title for the disclosure along with the applicable text. Save any data added or changes made. Reckon Limited PAGE 47 OF 77

48 Profit Note A minor change has been made to the profit note to allow the accounts shown in the following table to print their account descriptions where this note is being printed for a reporting entity: 204 Movement in net market values 207 Debt defeasance 209 Foreign currency exchanges 211 Share of partnership profit 212 Fair value gain 213 Gain on revaluation of investment property Previously these accounts printed a hard-coded description based on the Xcede Master Chart. Related Party Transactions Note for a Trust The Related Party Transactions note for a trust has changed this year to display the disclosure on remuneration of key personnel under Transactions with Related Parties. Previously this disclosure was included under the section Key Management Personnel. Accordingly the financial reporting fields that support the disclosure on remuneration of key personnel on the entity templates have been relocated further down the financial reporting fields table. To distinguish this disclosure from other transactions with related parties, there is a new financial reporting field available that stores a heading than can be amended as required. Following the remuneration of key personnel fields there is an information field that indicates the next group of financial reporting fields are used for related party transactions; loans to related parties; and loans from related parties, where required. Reckon Limited PAGE 48 OF 77

49 Related Party Transactions Note for a Partnership The Related Party Transactions note for a partnership has also changed this year to display the disclosure on remuneration of key personnel under Transactions with Related Parties. Please see the previous section for details. Revenue Note The revenue note has been amended in this year s release to support two enhancements: Associates and Joint Arrangements Note: The revenue note excludes account 225 where disclosure on Associates and Joint Arrangements is included in the financial statements. Please see page 27 for more information. Enhancement: In this release, direct expenses can be allocated against other farm income. Please see page 9 for more information. SELF-MANAGED SUPERANNUATION FUND ACCOUNTS CHANGES Note 1: Summary of Significant Accounting Policies The income tax accounting policy note has been amended in line with the disclosure displayed in the Thomson Reuters Publication: 2015 XYZ Model Financial Accounts for a self-managed superannuation fund. Annual Fund Information Statement In this year release of Xcede Master Sheets and Templates, the Annual Fund Information Statement has been retired and the supporting financial reporting fields used to prepare this report, have been removed from the superannuation fund template. Previously the group of financial reporting fields used with the Annual Fund Information Statement was positioned on the template as shown below: Reckon Limited PAGE 49 OF 77

50 Further, the following jobstream and the two reports that comprised the Annual Fund Information Statement have been removed from the superannuation fund template: Reckon Limited PAGE 50 OF 77

51 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 2015 : Master Chart Template & General Ledger Accounts Associates & Joint Arrangements Where an entity has interests in other entities then the relevant balances can be included when preparing the financial statements and a supporting note constructed from financial reporting fields. Account 225, Share of net profits of associates and joint ventures have been allocated on the Master Chart Template as the specific income account that should be used where disclosure on Associates & Joint Arrangements is required: Please note that account 225 is only printed separately to all other revenue accounts on the income statement where the Associates & Joint Arrangements note has been included in the notes to the financial statements. Where this disclosure is not required then account 225 can be used as any other revenue account 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. Reckon Limited PAGE 51 OF 77

52 New Groups of Financial Reporting Fields New Group: Management P&L - Using Account 189 as Direct Expenses for Other Farm Income (Section: Management Accounts) New group of financial reporting fields is available in the section Management Accounts to support the new enhancement where account 189 can be used as a direct expense account when printing other farm income accounts in management reports. New Group: Note 1 & Year of Grace (Section: Note 1 Significant Accounting Policies) New group of financial reporting fields is available in the section Note 1 Significant Accounting Policies 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. New Group: Interests in Joint Arrangements Policy Note (Section: Note 1) New group of financial reporting fields is available in the section Note 1 Significant Accounting Policies to support the new accounting policy note, Interests in Joint Arrangements. New Groups: Associates & Joint Arrangements (Section: Compliance Notes Statement Financial Position) Three new groups of financial reporting fields is available in the section Compliance Notes to Statement Financial Position to support the disclosure on associates and joint ventures. New Group: Interests in Subsidiaries (Section: Compliance Notes Statement Financial Position) New group of financial reporting fields is available in the section Compliance Notes to Statement Financial Position to support the disclosure on interests in subsidiaries. Reckon Limited PAGE 52 OF 77

53 Amended Groups of Financial Reporting Fields Amended Group: Compilation Report (Section: Text Reports and Declarations) Amended group of financial reporting fields in the section Text Reports and Declarations ; new fields are available to support the changes to the compilation reports re-issued under APES 315 Compilation of Financial Information. Amended Group: Management Financial Statements (Section: Glossary) New financial reporting fields available in the section Glossary to support the new enhancement where account 189 can be used as a direct expense account when printing other farm income accounts in management reports. Amended Group: Livestock Accounts (Section: Management Accounts) Amended group of financial reporting fields in the section Management Accounts ; a new field is available to support the enhancement where the descriptions for livestock accounts (100 to 169) can be printed from the client chart on the ledger. Amended Group: Livestock Accounts (Section: Management Accounts) Amended group of financial reporting fields in the section Management Accounts ; a new field is available to support the enhancement where the descriptions for livestock accounts (100 to 169) can be printed from the client chart on the ledger. Amended Group: Capital & Leasing Commitments (Section: Compliance Notes S ment Financial Position) Amended group of financial reporting fields in the section Compliance Notes to Statement Financial Position ; the financial reporting fields that previously supported the disclosure on capital and other commitments regarding associates have been deleted. Reckon Limited PAGE 53 OF 77

54 Amended Group: Contingent Liabilities & Assets (Section: Compliance Notes Statement Fin Position) Amended group of financial reporting fields in the section Compliance Notes to Statement Financial Position ; the financial reporting fields that previously supported the disclosure on contingent liabilities and assets regarding associates have been deleted. Amended Group: First-Time Adoption of AIFRS (Section: Compliance Notes Sment P&L & Comp Income) Amended group of financial reporting fields in the section Compliance Notes to Statement Profit or Loss & Comprehensive Income ; the financial reporting fields that previously supported the disclosure change to AIFRS regarding associates have been deleted. Company 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 company template: New Groups of Financial Reporting Fields New Group: Parent Information (Section: Compliance Notes S ment Profit or Loss & Comp Inc) A new note Parent Information can be included for a company ledger this year, where required. A new group of financial reporting fields are available to support this note and the note prints after note 1 where it is included in a set of financial statements: Reckon Limited PAGE 54 OF 77

55 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: Corporate Trustee Accounts) Amended group of financial reporting fields in the section Corporate Trustee Accounts ; new fields are available to support the changes to the compilation reports re-issued under APES 315 Compilation of Financial Information. Amended Group: Taxable Income Reconciliation Statement (Section: Management Accounts) New financial reporting field available in the section Management Accounts to support the new enhancement where the distributions to beneficiaries balance to be excluded from taxable income and the calculation of income tax payable for a trust ledger. 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: Deleted Section of Financial Reporting Fields Deleted Section: Annual Fund Information Statement The Annual Fund Information Statement section and group of financial reporting fields was removed from the superannuation fund template. Reckon Limited PAGE 55 OF 77

56 Amended Groups of Financial Reporting Fields Amended Group: Compilation Report Corporate Trustee (Section: Corporate Trustee Accounts) Amended group of financial reporting fields in the section Corporate Trustee Accounts ; new fields are available to support the changes to the compilation reports re-issued under APES 315 Compilation of Financial Information. Reckon Limited PAGE 56 OF 77

57 SECTION 3: NEW, DELETED & AMENDED XCEDE SHEETS New Sheets M'ment Notes - Other Farm IncomeA.xlsx M'ment Notes - Other Farm Income.xlsx New management notes that are called from the profit and loss statements; either ManInc&Exp.xlsx or Manp&l.xls. These notes are required to support the enhancement where direct expenses can be allocated against other farm income (accounts ) using the last account in this range, account 189, as an expense account. This format is controlled by a financial reporting field. M'ment Notes - Other IncomeA.xlsx New management note that is called from the profit and loss statement ManInc&Exp.xlsx. This note is required to support the enhancement where account 045 now generates a supporting note detailing the active subaccount balances where appropriate. Notes - Associates Joint Arrangements.xlsx New compliance note that details information on disclosure of interests in other entities. Notes - Interests in Subsidiaries.xlsx New compliance note that details information on disclosure of interests in subsidiaries. Notes - Parent Information.xlsx New compliance note that discloses information on the parent entity, including significant balances. The note is available for a company ledger only. TB Output.xlsx New management report that can be run from one ledger and the results imported into another ledger. The trial balance from the source ledger is output to an Xcede sheet and the balances imported into a second ledger. This report assists where an incorrect entity type has been selected when setting up a new ledger, for example. Reckon Limited PAGE 57 OF 77

58 Deleted Sheets Notes - Equity Accounted Investments.xlsx Compliance notes that previously disclosed information on account 794, Shares in associated companies. This disclosure is now included in the Associates and Joint Arrangements note. Notes - Investments in Associates AIFRS.xlsx Compliance note that previously disclosed information on investment in associates. This note has been replaced with the Associates and Joint Arrangements note. SFAccs.xlsx SFAnnual.xlsx The Annual Fund Information Statement has been retired and therefore the two sheets that comprise this report have been deleted and removed from the superannuation fund template. Amendment of Existing Sheets Compliance Reports: Large & Small Companies, Discretionary & Unit Trusts, Partnerships & Incorporated Associations AuditorIndDec.xlsx AuditReport.xlsx AuditReportPship.xlsx AuditReportTrust.xlsx DeclarPship.xlsx DrDeclar.xlsx DrDeclarTrust.xlsx DrDeclaT.xlsx DrReport AIFRS.xlsx IAAuditRep.xlsx IACertificate.xlsx IACommittee Report.xlsx Enhanced to allow the alternate date selected in the current year to be used when printing these text reports in the year of grace. Balance Sheet.xlsx Balance Sheet OB.xlsx Balance Sheet TP.xlsx Balance Sheet TP OB.xlsx Amended the command that calls the Contingent Liabilities and Capital and Leasing Commitments notes to remove any reference to financial reporting fields used with the obsolete note Investment in Associates. Removed all commands and references to financial reporting fields used with the obsolete note Investment in Associates that were included with these balance sheets. Enhanced to allow the Associates and Joint Arrangements note be called by request for a ledger. Enhanced to allow the Interests in Subsidiaries note be called by request for a ledger. Reckon Limited PAGE 58 OF 77

59 Compliance Reports: Large & Small Companies, Discretionary & Unit Trusts, Partnerships & Incorporated Associations Changes in Equity IA L.xlsx Changes in Equity IA P.xlsx Changes in Equity L.xlsx Changes in Equity P P.xlsx Changes in Equity P.xlsx Changes in Equity T L.xlsx Changes in Equity T P.xlsx Removed all commands and references to financial reporting fields used with the obsolete note Investment in Associates that were included with these statements of changes in equity. CompReport.xlsx Amended the reporting and non-reporting compilation reports based on the re-issued standard APES 315 Compilation of Financial Information. A new financial reporting field controls which version of the compilation report is printed (the 2009 version or the 2015 version). Additionally, the organisation name, optional four heading lines and ABN/ACN that print at the top of the page prior to the start of the compilation report can be excluded, by request. The practice address lines can also be excluded where applicable. Finally, there is the capacity to include a Note Regarding Basis of Accounting where this disclosure is required. Amended a style issue in the address section of the report. DrReport AIFRS.xlsx Amended the signature section of the report to be This directors' report is signed in accordance with a resolution of the board of directors. Removed all commands and references to financial reporting fields regarding the obsolete note Investment in Associates on the following header tabs used with the statements of changes in equity: Headers Footers.xlsx HEADER12 ; HEADER13 ; HEADER17 ; HEADER19 ; HEADER20 Amended the following header tab to add the capacity to control the inclusion of the heading rows on the compilation report: HEADER2 Where you have customised headers and/or footers then please note that there may be issues when you upgrade to the new sheets. Reckon Limited PAGE 59 OF 77

60 Compliance Reports: Large & Small Companies, Discretionary & Unit Trusts, Partnerships & Incorporated Associations Comp Income Statement.xlsx Income Statement Nil.xlsx Income Statement.xlsx Income Statement TP.xlsx Income Sment UDFF.xlsx Income Sment TP UDFF.xlsx Enhanced to allow the selections and stored text for a ledger that was used when preparing Note 2 (where the split note 1 and 2 is required) in the current year to be used in the year of grace. Income Statement.xlsx Income Statement TP.xlsx Income Sment UDFF.xlsx Income Sment TP UDFF.xlsx Enhanced to include the capacity to allocate direct expenses against other farm income (accounts ) using the last account in this range, account 189, as an expense account. The account balances included for revenue, other revenue and other expenses are changed depending on whether the enhancement is included or excluded by selecting Yes or No in a new financial reporting field. Removed all commands and references to financial reporting fields used with the obsolete note Investment in Associates that were included with these income statements. Added the capacity to isolate account 225, Share of net profits of associates and joint venture entities where the Associates and Joint Arrangements note is called by request for a ledger. Income Statement.xlsx Income Sment UDFF.xlsx Enhanced to allow the Parent Information note be called by request for a company ledger. Note 1 AIFRS Alt.xlsx 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). 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, 2015 XYZ Model Financial Accounts. Enhanced to include a new accounting policy note, titled Interests in Joint Arrangements. 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). Amended to bold the sub-headings used in the Depreciation policy. Note 1 - Non-Reporting Corporate Trustee.xlsx Amended to fix issues with incorrect cross-references. Reckon Limited PAGE 60 OF 77

61 Compliance Reports: Large & Small Companies, Discretionary & Unit Trusts, Partnerships & Incorporated Associations Notes - Adopt AIFRS.xlsx Notes - Adopt AIFRS TP.xlsx Notes - Cash Flow.xlsx Notes - Commitments AIFRS.xlsx Notes - Contingent Liabilities AIFRS.xlsx Notes - Reserves AIFRS.xlsx Notes - Retained Profits.xlsx Removed all commands and references to financial reporting fields used with the obsolete note Investment in Associates that were included with these notes. Notes - Abnormal Items - Trustee.xlsx Amended to remove the imbedded column headings. Notes - Auditors Remuneration AIFRS.xlsx Amended to add a sub-heading. Notes - Beneficiaries Funds Assets.xlsx Notes - Beneficiaries Funds.xlsx Amended to stop a superfluous subtotal from printing in the current account when there are no debits balances active for a particular beneficiary. Notes - Borrowings.xlsx Amended to remove some obsolete financial reporting fields. Notes - Commitments AIFRS.xlsx Amended to remove the section where the capital commitments in respect of associates were previously disclosed. Notes - Company or Trust Details.xlsx Amended to create a text box where the principal activity is printed. Notes - Contingent Liabilities AIFRS.xlsx Amended to remove the section where the contingent liabilities and contingent assets in respect of associates were previously disclosed. Notes - Financial Instruments AIFRS.xlsx Amended the note to allow the user to include or exclude disclosure on Financial Assets Pledged as Collateral using a financial reporting field. Notes - Income Tax AIFRS.xlsx Amended to allow the text descriptions stored in the current year in the financial reporting field table to be used when printing this note in the year of grace. Reckon Limited PAGE 61 OF 77

62 Compliance Reports: Large & Small Companies, Discretionary & Unit Trusts, Partnerships & Incorporated Associations Notes - Issued Capital.xlsx Amended to remove disclosure on number of shares partly at the end of the financial period. Notes - Profit AIFRS.xlsx Amended to allow accounts 204; 207; 209; 211; 212; and 213 to print their account descriptions where this note is being printed for a reporting entity, instead of a hard-coded description that was previously used. Notes PPE.xlsx Notes - Property Plant & Equipment AIFRS.xlsx Notes - Property Plant & Equipment AIFRS 1Pg.xlsx Notes - Property Plant & Equipment AIFRS Alt.xlsx Notes - Property Plant & Equipment AIFRS Alt 1Pg.xlsx Amended to update the note number reference where the Movement in Carrying Amounts note has been included in the jobstream. Notes - Provisions AIFRS.xlsx Amended to correct an issue with a subheading within the note. Notes - Related Party Transactions AIFRS.xlsx Amended the Related Party Transactions note for a trust ledger in line with Thomson Reuters Publication, 2015 XYZ Model Financial Accounts. Amended to add a heading for a section where text only is printed for all entity type ledgers. Notes - Receivables AIFRS.xlsx Amended to correct an issue where the note was printing debit signed balances not credit signed balances in the section 'Provision for Impairment of Receivables'. Notes - Revenue AIFRS.xlsx Notes - Revenue Function.xlsx Enhanced to include the capacity to allocate direct expenses against other farm income (accounts ) using the last account in this range, account 189, as an expense account. The account balances included for revenue, other revenue and other expenses are changed depending on whether the enhancement is included or excluded by selecting Yes or No in a new financial reporting field. Enhanced to exclude account 225 where the Associates and Joint Arrangement note has been selected to print in the notes to the financial statements. Notes - Trust Liabilities AIFRS.xlsx Amended to change a cell reference. Reckon Limited PAGE 62 OF 77

63 Reports for Non-reporting Corporate Trustee CompRepT.xlsx Amended the reporting and non-reporting compilation reports based on the re-issued standard APES 315 Compilation of Financial Information. A new financial reporting field controls which version of the compilation report is printed (the 2009 version or the 2015 version). Additionally, the organisation name, optional four heading lines and ABN/ACN that print at the top of the page prior to the start of the compilation report can be excluded, by request. The practice address lines can also be excluded where applicable. Finally, there is the capacity to include a Note Regarding Basis of Accounting where this disclosure is required. Amended a style issue in the address section of the report. DrDeclaT.xlsx Enhanced to allow the alternate date selected in the current year to be used when printing these text reports in the year of grace. DrReport AIFRS.xlsx Amended the text in the signature section of the report. Headers Footers Trustee.xlsx Amended the following header tab to add the capacity to control the inclusion of the heading rows on the compilation report: HEADER2 Where you have customised headers and/or footers then please note that there may be issues when you upgrade to the new sheets. Reckon Limited PAGE 63 OF 77

64 Reports for Non-Reporting Defined Contributions Superannuation Funds SFAuditNR.xlsx SFAuditRep Appendix.xlsx SFAuditRep Cover.xlsx Amended in line with the Thomson Reuters Publication, 2015 XYZ Model Financial Accounts and a pro-forma report from Advance Desktop Super. SFAuditNR.xlsx SFTDecNR.xlsx Enhanced to allow the alternate date selected in the current year to be used when printing these text reports in the year of grace. SFIndexS.xlsx Amended to correct an issue where the rental statement was printed before the operating statement. SFComp.xlsx Amended the reporting and non-reporting compilation reports based on the re-issued standard APES 315 Compilation of Financial Information. A new financial reporting field controls which version of the compilation report is printed (the 2009 version or the 2015 version). Additionally, the organisation name, optional four heading lines and ABN/ACN that print at the top of the page prior to the start of the compilation report can be excluded, by request. The practice address lines can also be excluded where applicable. Finally, there is the capacity to include a Note Regarding Basis of Accounting where this disclosure is required. Amended a style issue in the address section of the report. SFNote 1 - AIFRS.xlsx 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). SFNotes - Livestock Trading.xlsx Enhanced to allow users to over-ride the hard coded descriptions available on the Xcede Master chart in favour of sourcing the account description directly from the client chart on a ledger. SFNotes - Rental Trading.xlsx Amended to improve the final total where multiple properties are printed. SFNotes - Vested Benefits.xlsx Amended the note to stop a doubling up of balances in particular circumstances. SFOpStatementNR.xlsx Amended to name the cells that print rental balances to improve rounding between reports. Reckon Limited PAGE 64 OF 77

65 Management Reports CompReportMan.xlsx Amended the reporting and non-reporting compilation reports based on the re-issued standard APES 315 Compilation of Financial Information. A new financial reporting field controls which version of the compilation report is printed (the 2009 version or the 2015 version). Additionally, the organisation name, optional four heading lines and ABN/ACN that print at the top of the page prior to the start of the compilation report can be excluded, by request. The practice address lines can also be excluded where applicable. Finally, there is the capacity to include a Note Regarding Basis of Accounting where this disclosure is required. Headers Footers - M'ment.xlsx Amended the following header tab to add the capacity to control the inclusion of the heading rows on the compilation report: HEADER2. Where you have customised headers and/or footers then please note that there may be issues when you upgrade to the new sheets. Livestock.xlsx LivestockDiv.xlsx Enhanced to allow users to over-ride the hard coded descriptions available on the Xcede Master chart in favour of sourcing the account description directly from the client chart on a ledger. ManDeclarDr.xlsx ManDeclarPartner.xlsx ManDeclarTrust.xlsx Enhanced to allow the alternate date selected in the current year to be used when printing these text reports in the year of grace. ManBS.xlsx Amended to correct an issue with an incorrect note number in the loan receivables section of the report. Reckon Limited PAGE 65 OF 77

66 Management Reports CoverMan.xlsx ManAppn.xlsx ManDiv.xlsx ManDivTradAcrossL.xl sx ManDivTradAcrossP.xl sx ManPLNN NA.xlsx ManPLNNP.xlsx ManP&L.xlsx ManDiv1.xlsx ManDivTrading.xlsx ManPL%.xlsx ManDiv2.xlsx ManDiv2Qtr.xlsx ManDiv13P 2.xlsx ManDiv13P C.xlsx ManDiv13P.xlsx ManDivI&EAcrossL.xlsx ManDivI&EAcrossP.xlsx ManDivTradingT.xlsx ManInc&Exp.xlsx ManInc&ExpNN.xlsx ManInc&Exp5Yr.xlsx ManInc&ExpProj.xlsx ManManuf.xlsx ManPL13.xlsx ManPLVar.xlsx ManPLNN.xlsx ManPLNNP TYLY.xlsx ManPLSub.xlsx ManPLSub UDF.xlsx ManRent.xlsx ManRent5Yr.xlsx Enhanced to allow the selections and stored text for a ledger that was used when preparing Note 2 (where the split note 1 and 2 is required) in the current year to be used in the year of grace. ManDivI&EQtr.xlsx ManPL6.xlsx ManTrading.xlsx ManDivI&EQtrC.xlsx ManPL4.xlsx ManTrading5Yr.xlsx ManDivInc&Exp.xlsx ManPLQtr.xlsx ManTradingNN.xlsx ManDivInc&Exp1.xlsx ManP&L UDF.xlsx ManTradingProj.xlsx ManDiv13P C.xlsx Amended to correct a rounding issue and an issue with opening stock. ManDivI&EQtrC.xlsx Amended to correct an issue with opening stock. Reckon Limited PAGE 66 OF 77

67 Management Reports ManDivI&EQtrC.xlsx ManDivTradAcrossL.xlsx ManDiv.xlsx ManDivInc&Exp1.xlsx ManDiv13P.xlsx ManDivI&EAcrossP.xlsx ManDiv2Qtr.xlsx ManDiv13P 2.xlsx ManDiv1.xlsx ManDiv2.xlsx ManDivI&EQtr.xlsx ManDivInc&Exp.xlsx ManDiv13P C.xlsx ManGroupP.xlsx ManGroupL.xlsx ManInc&ExpNN.xlsx ManInc&Exp.xlsx ManInc&Exp5Yr.xlsx ManInc&ExpProj.xlsx ManManuf.xlsx ManPL4.xlsx ManPL6.xlsx ManPL13.xlsx ManPLQtr.xlsx ManP&L UDF.xlsx ManPLNN NA.xlsx ManPLNNP.xlsx ManP&L.xlsx ManPL%.xlsx ManPLVar.xlsx ManPLNN.xlsx ManPLNNP TYLY.xlsx ManPLSub.xlsx ManPLSub UDF.xlsx Enhanced to include the capacity to allocate direct expenses against other farm income (accounts ) using the last account in this range, account 189, as an expense account and displaying any active subaccounts for account 189 when printing any applicable profit and loss statements. This format is controlled by a financial reporting field. ManDiv.xlsx ManDiv1.xlsx Enhanced to allow users to over-ride the hard coded descriptions available on the Xcede Master chart in favour of sourcing the account description directly from the client chart on a ledger. ManDiv1.xlsx Amended to correct an issue in the section Cost of Goods Sold. The heading was excluded under certain circumstances. ManInc&Exp.xlsx ManP&L.xlsx ManP&L UDF.xlsx Enhanced to allow the three profit and loss statements that generate supporting notes to call a note for account 045 where that account has active subaccount balances. Previously account 045 did not generate a note where it had active subaccount balances. Amended to name the cells that print rental balances to improve rounding between reports. ManInc&ExpNN.xlsx Amended to correct a totalling issue. ManPLSub.xlsx Amended to correct a stray underscore Reckon Limited PAGE 67 OF 77

68 Management Reports ManRent.xlsx Amended to name the cells that print rental balances to improve rounding between reports. M'ment Notes - Note 1.xlsx 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). 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 Enhanced to allow users to over-ride the hard coded descriptions available on the Xcede Master chart in favour of sourcing the account description directly from the client chart on a ledger. Reckon Limited PAGE 68 OF 77

69 Management Reports M'ment P&L - Divisional - Income.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 - Manufacture - Income Sections.xlsx M'ment P&L - P4 - Income Sections.xlsx M'ment P&L P6 - Income Sections.xlsx Enhanced to include an extra tab titled Other Farm Income which is used where direct expenses are allocated against other farm income using the last account in the other farm income account (170 to 189), account 189, as an expense account. M'ment P&L P13 - Income Sections.xlsx M'ment P&L - Qtr - Income Sections.xlsx M'ment P&L - Subacct - Income Sections.xlsx M'ment P&L - Divisional Qtr - Income Sections.xlsx M'ment P&L - Divisional 13 - Income Sections.xlsx M'ment P&L - Divisional - Income Sections.xlsx M'ment P&L - Income Sections.xlsx M'ment P&L - Income Sections - Period.xlsx M'ment P&L - Income Sections - Period TYLY.xlsx M'ment P&L - Income Sections - Variance.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 Enhanced to include the capacity to allocate direct expenses against other farm income (accounts ) using the last account in this range, account 189, as an expense account and displaying any active subaccounts for account 189 when printing any applicable profit and loss statements. This format is controlled by a financial reporting field. M'ment P&L - Manufacture - Income Sections.xlsx M'ment P&L - Subacct - Income Sections.xlsx Reckon Limited PAGE 69 OF 77

70 Management Reports M'ment Notes - Other Expenses.xlsx M'ment Notes - Other Income.xlsx Enhanced these two supporting notes to include the subaccount detail for account 045 where that account has active subaccount balances. Previously account 045 did not generate a note where it had active subaccount balances. M'ment Notes - Rental Trading.xlsx M'ment Notes - Rental TradingA.xlsx Amended to improve the final total where multiple properties are printed. TaxRec.xlsx Amended the taxable income reconciliation statement available for a trust ledger to allow the distributions to beneficiaries balance to be excluded from taxable income and the calculation of income tax payable, where preferred. TBalSub.xlsx Amended the trial balance report to make the subaccount descriptions for account 502 consistent with the rest of the accounts in this range. In previous releases these subaccounts printed Share of profit or Share of loss, as applicable. Reckon Limited PAGE 70 OF 77

71 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 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 2015 sheets without upgrading your customised templates 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 2015 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 71 OF 77

72 The Header & Footer Sheets Generally, we recommend that you rename any spread-sheets when customising them. The exceptions to this are the spread-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 : Removed all commands and references to financial reporting fields regarding the obsolete note Investment in Associates on the following header tabs used with the statements of changes in equity: HEADER12 ; HEADER13 ; HEADER17 ; HEADER19 ; HEADER20 Amended the following header tab to add the capacity to control the inclusion of the heading rows on the compilation report: HEADER2 The following amendments have been made to the header/footer sheet: Headers Footers - M'ment.xlsx : Amended the following header tab to add the capacity to control the inclusion of the heading rows on the compilation report: HEADER2. The following amendments have been made to the header sheet: Headers Footers - Trustee.xlsx : Amended the following header tab to add the capacity to control the inclusion of the heading rows on the compilation report: HEADER2 Where you have customised header and/or footers then please be aware that there may issues when you upgrade to the new sheets. Reckon Limited PAGE 72 OF 77

73 Customised Entity Templates Where you have customised your templates you first need to upgrade each of your customised templates to the appropriate 2015 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. 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 2015 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 2015 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 2015 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 2015 data stored in the financial reporting fields on your customised templates is in line with the data stored on the XPA 2015 templates. Reckon Limited PAGE 73 OF 77

74 The Glossary Section There have been new items added to the Glossary Section on the entity templates in this release in the group Management Financial Statements. We recommend you review the default data in these financial reporting fields and where you wish to apply these text changes to all or the majority of your ledgers then we recommend that the relevant templates are amended prior to refreshing any ledgers. As noted above 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 2015 standard templates. Please review the default text on your customised templates in the glossary section to ensure it meets your requirements prior to refreshing any of your ledgers. Amending the Term Other Farm Income & Heading Direct Expenses : Profit & Loss Statements A new enhancement included this year allows direct expenses to be allocated against revenue from Other Farm Income, account range 170 to 189. The term Other Farm Income which prints as the heading and as part of the subtotal text, and the heading Less Direct Expenses print in the profit and loss statement where this new enhancement is selected, can be amended as required. 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 TB Output.xlsx New management report that can be run from one ledger and the results imported into another ledger. The trial balance from the source ledger is output to an Xcede sheet and the balances imported into a second ledger. This report assists where an incorrect entity type has been selected when setting up a new ledger, for example. Reckon Limited PAGE 74 OF 77

75 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 75 OF 77

76 Refreshing Financial Reporting Fields for Existing Ledgers Once you have loaded the 2015 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 2015 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 76 OF 77

77 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 77 OF 77