Revised: 06/03/2015
An Accounting Period for the next fiscal year may be created automatically using the End of Year Process without locking the current periods.
Go to Utilities>>End Year Process
Enter or select the fiscal year that is ending in Year to Close or if using Segment controlled closings, select the Segment and the year that is ending.
Select the Closing Mode of Create Next Year Only
Press Close Year on the Quick Links>>> bar
Repeat for any additional Segments needed
The accounting periods for the new fiscal year will be created. The current accounting periods will not be locked and balances will not be brought forward. Entries will be allowed into both years. The old fiscal year will need closed using Standard Close at some point so that balances are brought forward.
Manually Create New Year
Go to Maintain>>Accounting Period Master
Leave Segment blank. The program will enter "Master Control" in the segment field when saving.
Type in the new fiscal year in the Year field
For example: If your current year is 2013 and you are creating the next year, type 2014 in the year field.
Enter 12 in Actual Periods
In Year Begin enter the first day of the new fiscal year
For example: 01/01/2014
In Year End enter the last day of the new fiscal year
For example: 12/31/2014
Extended should be left blank
Enter 12 in Active Periods
Press Apply on the main menu bar
This will clear the view
Press the Auto Create button
This will Create the Monthly Periods in the grid.
Press the Save button.
Press Close
If multiple accounting periods for different funds are used, additional accounting periods may be created with the proper segment values.
Note: If you have not closed the current year there will be no beginning balances for the newly created fiscal year