[NZ] Active Release Notes

TABLE OF CONTENTS


June 2024 Release



New Features and Improvements


Binder Export Improvements

We've enhanced the binder export process to deliver a more user-friendly experience! Binders can now be exported directly as a single PDF file, eliminating the need for ZIP folders in most cases.

This simplifies sharing and storing your binders, making them readily accessible for reference.


ZIP exports will still be used in the following instances: 


  • Large Binder Size: For binders exceeding 50MB in total size, a ZIP file will be used for efficient handling.
  • Additional Options Selected: If you choose to include supplementary files during export, such as the binder workbook in Excel format or individual supporting documents, a ZIP file will be generated to accommodate these additional resources.

 
Bulk Status Update Feature

This new feature allows you to effortlessly update the status of multiple accounts at once. Say goodbye to repetitive individual updates and hello to a much faster workflow.


Here's how it works:

  • Select the accounts you want to update by checking the boxes next to them.
  • Click the "Bulk Edit" button.
  • Choose the desired status from the available options.



That's it! The statuses of your selected accounts will be updated in a single action, saving you valuable time and effort.


Swinging Accounts

In response to popular demand, we are very pleased to announce that you can now set accounts to swing between different classifications depending on whether the account balance is in negative. 


For example, if the entity has a Directors Loan Account with a credit balance (liability) in 2023, but in the 2024 financial year it has a debit balance (asset), the Directors Loan Account will swing from being a liability in the 2023 financial year to being an asset in the 2024 financial year (see example in the screenshot below). This ensures the account is represented as a positive figure on the page.


This is also particularly useful in ensuring that the Financial Information section of the company tax return workpaper captures the accurate financial position of the company.


You can now choose to swing accounts:

  • Swing entire row based on primary column behaviour OR
  • Swing each column's balance independently    

To learn more about how this works and how to set it up, please refer to our article: How to set up and use account swinging.


NB: If you are connecting a binder to a dataset in Active Ledger & Reporting, the binder will import the account swinging configuration from Active Ledger. Any further changes to the swinging properties will need to be configured in Active Ledger. 



New Features and Improvements


Fixed Assets Improvements

Our team has been busy incorporating your feedback into our Fixed Assets module to cater to various scenarios you may encounter.


Here's what we have delivered in June 2024:

  • Ability to record cost on acquisition date: You can now choose to recognise the cost of an asset from the acquisition date instead of from commencement date. Simply tick the 'Recognise from Acquisition' checkbox in the Purchase section of an asset after entering a commencement date.
  • Accounting for private use (Gain/loss on sale and depreciation): When an asset involves an element of private use, the automated journals will journal the private use percentage to separate depreciation and gain/loss on sale accounts. This will save you the time in needing to take up a manual adjustment.
  • Ability to import un-deducted decline in value: You can now import the un-deducted decline in value for any asset when running the bulk import function.
  • Deactivate depreciation in the year of disposal: In line with the Income Tax Act 2007 EE 11(1), you can now choose if depreciation should not be calculated in the year when an asset is disposed.
  • Recording Capital Gains or Losses: When an asset is disposed, you can now choose to recognise the gains or losses as capital. Simply select the Capital Gain/Loss checkbox in the Disposal section of an asset, and the system will recognise this gain or loss in the separate Capital Gain column in the reports as well as post to the nominated 


May 2024 Release


 

New Features and Improvements


Binder Export Improvements

We've heard your feedback and made significant improvements to the Binder Export process!


Here's what's new:         

  • Simplified Exports: By default, all your supporting documents and linked worksheets are now conveniently bundled into a single, easy-to-manage PDF. We've also reorganized the export structure for a more intuitive user experience.
  • Granular Control: Need more customization? No problem! You can now choose to exclude specific items from the export, like audit logs, notes, or journals.
  • Individual Exports: Want more flexibility? You now have the option to export your Excel Workbook and supporting documents as separate files.

These enhancements give you greater control and efficiency when exporting your Binder information. 


Quick-Add New Row in Excel

You can now easily add a new row to a table while retaining existing formulas. Simply right-click on the last row, go to the ‘Active Workpapers’ option, and click on ‘Insert Row Below’. Or, you can use the keyboard shortcut ‘Ctrl+Alt+i’ to quickly insert a row below the active cell.  



Compare and Reinstate Previous Data Imports
We're excited to announce a powerful new feature that allows you to effortlessly review and reinstate prior import runs. With this update, you can now compare and reinstate past imports whenever necessary, giving you greater control and flexibility over your data management.


To find this feature, navigate to the 'Journals' page in the binder, and navigate to the 'Import Runs' tab. Here you can find all past import runs, and you can choose either to Reinstate or Compare the data. 



Binder Top Banner Makeover: More Room for What Matters!
Have you noticed a change in the binder page? We listened to your feedback and made some improvements to the top banner to enhance your experience.

  • What's New?

    We've streamlined the banner by consolidating information that was previously spread across multiple rows. This creates a cleaner look and, more importantly, frees up valuable space within the Trial Balance section. Now you can view more accounts at a glance, making it easier to navigate and analyse your financial data. 
    We hope this update makes working with your binders a smoother experience!


Worksheet Improvements and Bug Fixes:


H35 Provisions Tax

We fixed a bug in which the Income Tax Expense from the C20 Tax Reconciliation worksheet was coming in as a negative.



Copy & Paste from Excel into Report Builder

If you have content from Excel that you wish to add to the financial reports in Active Ledger & Reporting, you can now simply copy and paste it in! For example, you can customise the content in the tax reconciliation section of the report, and copy & paste in the tax rec data from Excel.  

 

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Automated Tax Calculation in Reports

We have now added a new ‘Applicable Tax Rate’ field in Datasets, which drives the tax calculations in the Reports.

 

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Ability to Customise Column Widths in Report Templates

Due to popular requests, we have released a feature where you can now, at the firm level, customise the width of the columns in your financial reports. Firm administrators can do this by going to Ledger Admin -> Styles and either select an existing style or create a new style. You can now see a new section called 'Standard Column Widths' in which you can choose what the column widths should be in your reports.

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