Allocating unallocated entries before running the End Of Year
After running the end of year in SFM, all outstanding entries including unallocated entries are brought forward to the new financial year. To minimise the number of these outstanding entries we suggest that one goes through all the entities that have unallocated entries and allocate them (when possible) before running the end of year.
SFM has a tool (available both in the sales and purchase ledger) that cycles through all the entities that have unallocated entries and enable you to allocate them. Below are instructions on how this is done.
Overview SFM allows posting into two financial years simultaneously. This means that users do not need to finalise 2024 before starting to post entries into 2025. The end of year procedure will move the “Current Year” data into the "Previous Year". ...
After the end of year run, SFM provides the option to authorised users to keep on posting into the Previous Year for the next 12 months. When users post in the previous year, SFM will trap this and makes available a function, 'Update Opening ...
In SFM, if the Assets module is enabled, you must complete the Assets end-of-year process before running the SFM end-of-year process. Running the Assets End of Year Navigate to: Previous Year > Assets > Assets End Of Year The system will then present ...
Problem Error: "Allocation in Progress for Entity" when posting an allocation. Environment SFM Purchase or Sales Unallocated Entries Solution Go to Client (Current Year > Sales > Client Maintenance ) or Supplier (Current Year > Purchases > Supplier ...
SIMS does not require an end of year procedures to be run. However, SIMS controls users to only allow posting of transactions, such as sales invoices, cash sales, adjustments and purchases, within a range of dates referred to as the Posting Period. ...
Reversing Entries in SFM Once users confirm an entry in SFM, they cannot modify any of its elements. The only available option is to reverse the entire transaction and re-post it with the correct values. The system supports both simple reversals and ...
Before proceeding, please ensure you are using the latest version of SFM. Starting October 5th, 2025, Bank of Valletta (BOV) will begin processing live transactions using the new SEPA file format (version 9). The older version 3 format will no longer ...
Procedure for Reconciling a Nominal Account (Current Year > Nominal > Nominal Reconciliation) Account Field: Select the relevant Nominal Account from the drop-down menu that you wish to reconcile. Details Field: Enter any necessary free text in the ...
For optimal results, update SFS directly from the server. Important notes before updating: - All Users: Log out of SFS, SIMS and SFM (if applicable). - Remote Desktop Users: Log out of SFS, SIMS and SFM before disconnecting from the remote session. ...
If you want to apply the same footer across all your invoices or the same footer across all your statements, please refer to this article: How to insert document footers in SFM If you need to use different footers for specific clients, SFM also ...
Overview SFM allows posting into two financial years simultaneously. This means that users do not need to finalise 2024 before starting to post entries into 2025. The end of year procedure will move the “Current Year” data into the "Previous Year". ...
SIMS does not require an end of year procedures to be run. However, SIMS controls users to only allow posting of transactions, such as sales invoices, cash sales, adjustments and purchases, within a range of dates referred to as the Posting Period. ...
Create the Account in your Chart of Accounts as seen below. Please make sure you use the code depending on your Heading and Sub-Heading digits. After creating the account, you need to specify the account as a System Control Account. Go to Support > ...
The password for the Shireburn RDS Account used to connect to RDS server is set to expire after 90 days. A notification is provided to the user daily starting 5 days prior to the expiry date. In order to change password, the following steps need to ...