Updated 11/19/21
Organizations that do not use the Springbrook Financial system have two items to complete for year-end to be able to continue processing and recording in the new fiscal year.
- Create New Fiscal Year
- Reset Fiscal Year
Fiscal Year system basics
- System requires a GL > Maintenance > Chart of Accounts for each fiscal year.
- Fiscal Year is set in System Wide Access > Utilities > System Setup.
- In the example below he system is told that the Fiscal Year starts in January so any GL Distribution entries in January will need to have a GL Chart of Accounts record for the new year.
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Common GL Distribution error on the first batch to be processed in the new fiscal year.
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Processing errors
If the new fiscal year is NOT set up prior to the first batches being processed an error will occur when GL Distribution is run using a date that is in the new fiscal year.
- If using only UB, BT or another CIS product the error will normally be seen first when the Cash Receipts GL Distribution will not complete.
- If using only Payroll the error will be seen whenPayroll > Computer Checks > GL Distributionwill not complete.
- In Payroll you also will get an error when entering a new employee since the chart of accounts does not exist.
Create New Fiscal Year
- OpenGeneral Ledger > Utilities > Create New Fiscal Year.
- The next fiscal year should be visible in the Fiscal Year field. If the current fiscal year is there change the year in System Setup to the current fiscal year.
- No other changes are needed.
- Click OK to proceed.
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Accept Create
- System will ask to create the new fiscal year.
- Click Accept to proceed.
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Job will run in the job viewer
- Potential errors
- Chart of accounts records already exist for the fiscal year. If this message appears and displays the current or a prior fiscal year, navigate toSystem Wide Access > Utilities > System Setupand change the fiscal year to the current fiscal year. Save the change. Re-run the Create New Fiscal Year process.
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After the year is created
- The GL Distribution should complete without error.
- Best Practice - Reset the Fiscal year inGeneral Ledger > Utilities > Fiscal Year End Reset.
- No changes needed, just click Start to reset the year.
- Doing this step will prevent the error mentioned above for next year.
- If this isn’t done, go back toSystem Wide Access > Utilities > System Setupand change the year manually.
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Fiscal Year is now the current year
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Run your GL Distribution step again
- The job should complete without errors.