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: 
checklist-template-updates

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.
view-suspended-members

view-inactive-members

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: 

placeholders

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

Notes
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. 

To learn more about the process, explore best practices, and make the most of our features, please visit our Knowledge Base. You can also check our FAQ section for answers to common questions, contact our Support team if you need any assistance.