It’s Time to Create a New Fiscal Year!

If you have your fiscal year set up to end tomorrow (December 31), make sure that you have your next fiscal year setup. This only applies to organizations that have the General Ledger enabled. If a new fiscal year is not setup, on Jan 1 all users will receive the message “Data could not be saved. Post date must be in an open period.” when trying to add any new transactions: donations, ticket sales, etc.

To do this, ask an individual at your organization that is assigned the Accounting Manager role to do this:

1. Go to Administration and select General Ledger Setup
2. Click on Define Fiscal Years.  Ensure future fiscal years are setup.  If not, continue to step 3.
3. Click Add Next to set up a new fiscal year.
4. Enter a name for the fiscal year.
5. Enter a description.
6. Select the number of periods for the fiscal year.
7. Click Auto-complete if your periods are broken down into a simple month format OR fill in the end dates of each period.
8. Click Save.

Visual learner? Check out this video or walk through it in the product by clicking the Help Icon > Walkthrough > Initial Setup tab > click Configure Fiscal Years.




Leave a Comment

|