Modify Year and Periods allows you to edit the details of the currently selected year. You may also click the Add New Year link to add a new year. You can choose a different year by clicking its link in the right panel.
Modify Year and Periods
Note: Adding a new year automatically sets it as the currently selected year. If you wish to work in a different year, you need to update your current financial settings after finalizing your new-year setup (More Information).
- Click the Delete icon next to a year in the right panel to be prompted to delete that year. You can only delete years with no activity.
- There are options to include the Audit Period and Close Year, as well as to change the Number of Periods and the Begin Date and End Date. The names of the periods can all be changed, and checking the Closed option for any period closes that period.
- Although many organizations use a 12-period calendar, you can set the Number of Periods to 99. Each period must have a description.
- Click the Update button to save all changes, the Reset link to undo all changes since the last time the page was updated, or the Cancel link to return to the main General Ledger page without saving.
Creating A New Year
- When you create a new year, you are prompted to set up the account structure and accounts. You are presented with the following Copy From options:
- Prior Year: This option copies the account structure and accounts from the previous fiscal year of the same company.
- Another company or fiscal year: This option lets you select the company and fiscal year to copy your structure and accounts from.
- Templates: This option lets you configure account structure and accounts using a predefined template.
- Do not copy. Create the new year manually.
Templates
The templates are a sample chart of accounts that can be modified to fit your organization. The chart of account examples available for use as templates are listed below.
No Funds/Depts
Depts Only
Funds & Depts
Church & School - Depts only
Church & School - Funds & Depts
HQ Company
- If you click the Cancel link, you must delete and recreate the year to copy accounts or budgets.
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If you copy from the Prior Year, you can also copy budgets. Once you have made your selections, click the Update button to apply the selected operations, or click the Cancel link to return to the Year Period page.
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