Auditomation EOFY Updates - FY 2023

Auditomation EOFY Updates - FY 2023

End of the Year Updates for FY 2023

Following are the end of the year updates for Auditomation for FY 2023.

Checklist Template Updates for FY 2023

Below are the changes in the checklists in FY 2023: 

Observations For FY 2023

A few updates have been made in the current observations, they're as follows:-

Lump Sum Payment

  1. If lump sum payment is made and member’s age is less than 59, Lump Sum Payment will show in the warnings and will have the red flag against the member name or else it will appear in good to go.
  2. This will not apply for the previous FYs (2022 or any other preceding years).

Retirement Condition

  1. If lump sum payment is made and member’s age is between 59-65, Retirement Condition will show in the warnings and will have the red flag against the member name or else it will appear in good to go.
  2. This will not apply for the previous FYs (2022 or any other preceding years).

Work Test

  1. If a member is 67 or above has Concessional contribution (amount in Contribution as allocated) then the Work Test will show in the warnings and will list the member details with a red flag against the member name or else it will appear in good to go.
  2. This will not apply for the previous FYs (2022 or any other preceding years)

Other Updates

Suspended Members

The members in the client details have been segregated as Active and Inactive members by moving the suspended members in the accounting software to Inactive members list.
  1. Suspended Members will now be listed in Inactive Members list.
  2. To see the inactive members list, user can click on the View Inactive Members checkbox.



Placeholder

A new place holder has been added for Directors and Trustees depending on the trustee type. All of the 6 trustees will get it with the Name, Trustee Type and Date.

Adde the 6 placeholders as shown below: 



Below is the format:
Name of the Trustee 
Trustee/Director of Corporate Trustee

Date 

Example: 

If Individual Trustee

If Corporate Trustee



Michael Hussey
Trustee 

29/06/2023
Date



Michael Hussey
Director of Corporate Trustee 

29/06/2023
Date

Note - If there are 4 members and you have added placeholders for 6 members then it will only show up 4 members name with the above format. 


    • Related Articles

    • Auditomation - EOFY Release for FY 2022

      End of the year (EOFY) updates FY update on create job screen FY will be available as below while creating job: FY 2022 will be listed in the Year End list.  FY 2022 will be the default selection for FY if the job type is selected as Year End.  FY ...

    • SMSF Sorted Release v3.1.4

      The latest SMSF Sorted release v3.1.4 includes below points: 1. EOFY Updates: 50% reduction in the minimum pension drawdowns extended to FY 2023 and hence pension workpapers in SMSF Sorted have been updated to consider this effect. Option to create ...

    • EOFY Updates - FY24

      End of the Year Updates for FY 2024 Following are the end of the year updates for Auditomation for FY 2024. Checklist Template: We have reworded and updated the terminology in the Checklist Template. Please note, there are no changes to the rules or ...

    • Auditomation's EOFY Updates & Enhanced Import Functionality

      Introduction We're excited to introduce the latest updates in Auditomation, your go-to auditing software, designed to enhance your efficiency and streamline your workflow. Here are the new features and improvements: Enhanced Import - Reimport ...

    • SMSF Sorted EOFY Updates- FY2023

      End of the Year Updates for FY 2023 A few updates have been made in the current observations, they're as follows:- Lump Sum Payment If a lump sum payment is made and the member’s age is less than 59, the Lump Sum Payment observation will be reflected ...