Premier | Financial Year End and Targets

Premier | Financial Year End and Targets

🔍 Summary

Targets in Premier allow you to define the financial reporting structure and set revenue targets for weekly or monthly periods. These targets are used in financial reports to compare actual performance against expected revenue over defined date ranges, such as last week, last month, or the last three months.

❓ Likely Scenario
  1. Users need to create or adjust financial periods for reporting
  2. Weekly or monthly revenue targets are not appearing in reports
  3. Financial year-end or period definitions are incorrect, causing reporting issues
🛠️ Process Overview

You’ll define the financial year, create financial periods, and set either weekly or monthly revenue targets. Once configured, reports can use these targets to provide comparisons against actual revenue.

✅ Step-by-Step Instructions

Accessing Targets
  1. Log into Administrator or Manager
  2. Go to Targets
  3. Creating a Financial Structure
  4. Select Year End Dates to define the financial year
  5. Click Green Plus to create a new financial period
  6. Use the Delete button to remove an existing period if needed
  7. Choose whether your reporting intervals will be Weekly or Monthly
Setting Weekly Targets
  1. Select Weekly under the interval
  2. Choose whether the year will have 52 or 53 weeks
  3. Enter the Year End Date (ensure the first year-end date is correct; subsequent years will follow from this)
  4. Decide if targets will be set by Staff per Income Centre or per Income Centre Group
  5. Tick each Month End Date to cover the 12 months of the year
  6. Click the Green Tick to confirm
  7. A confirmation screen will display the targets you are setting
Setting Monthly Targets
  1. Select Monthly under the interval
  2. Enter the Year End Date (ensure accuracy for first year)
  3. Choose whether targets will be set by Staff per Income Centre or per Income Centre Group
  4. Use the dropdowns to select the Month End Dates relevant to your business
  5. Click the Green Tick to confirm
  6. A confirmation screen will display the blank targets for the next year
  7. Click the Green Back Arrow to return to the main target screen
Entering Target Values
  1. On the main target screen, enter the values for each target you have defined
  2. Once entered, reports will use the target date ranges and provide comparisons between actual revenue and set targets
🧠 Important Note
  1. Ensure the first Year End Date is correct; all subsequent financial periods depend on it
  2. Targets can be defined per staff per Income Centre or per Income Centre Group, depending on reporting requirements
  3. Accurate setup ensures reliable reporting and comparisons against revenue targets
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