The start of a new financial year is more than just closing off the books; it is an opportunity to reflect, reset, and optimise. Whether you're using a Microsoft solution (such as Dynamics 365 Business Central or Dynamics 365 for Finance and Supply Chain Management), or another enterprise resource planning (ERP) system, following your end of financial year it is now time to ensure your platform is primed to support your organisation’s goals for the year ahead.
How was your end of financial year process? Did you take advantage of our End of Financial Year webinars, specifically for our clients?
If you are a client, you are welcome to revisit these webinars, either as a fresh watch if you missed them when they were live or as a refresher. If you don’t have the links, simply reach out to your Client Management Team.
As you plan for the year ahead, it is worth asking: is your ERP system helping you lead with confidence? You probably know many of the things to check on throughout the year, but we are here if you need a reminder: based on our experience supporting finance and operations teams for more than 35 years, here are our tips to get the most from your ERP system.
1. Review and refine your chart of accounts
Over time, charts of accounts can become cluttered or misaligned with reporting needs. Now is the perfect time to:
- Consolidate inactive or unused accounts.
- Ensure alignment with your current business structure.
- Make adjustments to support improved reporting and budgeting accuracy.
Getting this right at the start of the year reduces confusion and errors down the track.
2. Close off the previous year cleanly
Ensure your year-end processes are completed thoroughly:
- All transactions posted and reconciled.
- Inventory counts finalised.
- Fixed assets updated.
- Year-end journals posted.
Most modern ERP systems include tools and workflows to simplify this process. Use them to maintain accuracy and minimise disruption to day-to-day operations.
3. Revisit security roles and permissions
Organisational structures evolve, but have your ERP permissions kept up? Conduct an annual review of:
- Who has access to what.
- Whether role-based permissions are still appropriate.
- Any segregation of duties requirements for compliance.
This not only protects your data, but also streamlines system use and approvals.
4. Update budgets and forecasts in system
Now that your new budgets are likely approved, ensure they’re uploaded or configured within your ERP system:
- Input budget figures for each department or business unit.
- Activate any alerts or workflows for budget controls.
- Consider integrating Power BI or other reporting tools for visibility.
Embedding financial targets within your ERP helps maintain accountability and gives managers real-time insight.
5. Clean up your data
Accurate data underpins every good decision. Use this time to:
- Remove duplicate or inactive customer, supplier, and product records.
- Check for inconsistent formatting (e.g. ABNs, addresses, email domains).
- Run data quality reports where available.
A clean database improves performance, reporting accuracy, and customer experience.
How about utilising the Microsoft Fabric Analyst in a Day workshop to help with your data clean-up?
6. Review key reports and dashboards
Does your leadership team have the insights they need at a glance? Reassess your ERP dashboards and reports:
- Are KPIs still relevant?
- Are reports automated where possible?
- Do dashboards reflect this year’s business goals?
The new financial year is the right time to redesign reports to better serve operational and strategic decision-making.
Discover how Microsoft Power BI can provide you with new levels of data interpretation in Power BI Dashboard in a Day.
Dashboard in a Day feedback:
“I wholeheartedly recommend this day. It will be packed with Power BI goodness.”
“DIAD workshop is a very comprehensive course, teaching everything you need to get started on dashboards.”
“The workshop was very helpful in enhancing our data modelling skills and advancing or internal capabilities.”
7. Train (or re-train) your team
With new processes, permissions, or reporting requirements, make sure your people are equipped:
- Provide refresher training on key ERP functions.
- Share updates or changes that impact users.
- Encourage feedback on what’s working, and what’s not.
This boosts confidence, adoption, and productivity.
8. Plan for system improvements
Finally, consider what enhancements you can make to your ERP this year:
- Are there underutilised features that could help you?
- Is it time to explore automation or AI capabilities?
- Do integrations with other systems need attention?
Involving your ERP partner early ensures you're well supported throughout the year.
Download our checklist for these eight points here.
Some of these points will likely have been taken care of during your year-end processes (so you are already one step ahead), but if not, this is a good reminder to not forget about them as the year gets into full swing.
A proactive approach to your ERP system at the start of the financial year sets the tone for smoother operations and smarter decisions. It's not just a system reset—it’s a strategic enabler for business success.
If you’d like support reviewing or optimising your ERP platform for the year ahead, our team at Professional Advantage is here to help.
Learn about the Enterprise Resource Planning solutions that we offer and support, or reach out to discuss your ERP needs.
Did you know we have expert consultants, dedicated client management, and a highly rated support team to ensure our clients get the most from their solution, before, during, and after financial year-end, and the rest of the year?
What’s next?
As you optimise today, be sure to keep an eye on what is next: ERP platforms are rapidly evolving to become intelligent, predictive, and fully integrated. For example, we are seeing momentum in:
- Embedded analytics for real-time forecasting.
- Regulatory readiness built into compliance workflows.
- Hyper-automation reducing manual reconciliation.
Staying aware of these shifts ensures your system can remain an enabler of transformation.
