Updated 11/19/21

The Fiscal Year End Reset process will roll the balance of the revenue and expense accounts into the fund balance accounts of each fund, roll the ending balances of balance sheet account to the beginning balance of the next year, and roll the amounts of the adopted budget to the current budget for the new fiscal year. This process should be run after a new fiscal year chart of accounts has been createdGL> Utilities> Create New Fiscal Yearand the fiscal year has begun.

Verify the current and new fiscal year in the Current Active Fiscal Year and New Active Fiscal Years fields are correct.

You cannot change the values in the fields from the Fiscal Year End Reset window, but you can change the current fiscal year inSS> Utilities> System Setup> Organization tab> Fiscal Year field.

Check the Roll adopted budget to current toggle if you have an adopted budget. This will move the adopted budget to the current budget for the new fiscal year. If no budget is recorded in the system this toggle does not have to be selected.

Once you have completed this step, the system will automatically net your revenues and your expenditures and roll them into the fund balance accounts for the same fund. All your balance sheet figures will be brought forward. If you checked Roll adopted budget to current, your budget figures will show as the current budget numbers for the year.

Note:  If your agency uses GL > Maintenance > Budget Groups for biennial (multi-year) budgeting this process will work with those settings to only reset balances and budgets in the approriate fiscal year(s).

In the System Setup windowSS> Utilities> System Setup> Organization tab> Fiscal Year field, your fiscal year will show as the new fiscal year. As you enter batches, journal entries and new GL accounts, they will all default to the new fiscal year.