[GL] How to Open New Fiscal Year

Creating a new fiscal year is required before you can:

• Open new GL batches
• Post transactions
• Enter budgets for the new year

Note: You can still post in the prior year until each month is formally closed.

Steps to Create a New Fiscal Year

1. Navigate to the GL Fiscal Years Form

General Ledger > Programs > GL Fiscal Years

2. Click the “New” or “Add” Button

This opens a blank row or form to input the new fiscal year details.

3. Enter the Fiscal Year

In the Fiscal Year field, type the 4-digit year (e.g., 2026).

This should match the year to be used in Management Reporter and for GL processing.

4. Specify the Fiscal Year Start and End Months

Month Fiscal Year Begins:

Select the starting month (e.g., 1 for January).

Month Fiscal Year Ends:

Select the ending month (e.g., 12 for December).

Important: Fiscal years cannot overlap.

Make sure the new year starts after the last period of the previous year.

5. Save the New Fiscal Year

Click Save to commit the changes.

The new fiscal year is now active and available for:

• Transaction entry
• Budget entry
• GL batch creation

Once budgets or beginning balances have been entered for the new year, you cannot delete that fiscal year. You can post to both prior and current fiscal years as long as the periods are open. The fiscal year setup impacts reporting and GL transaction processing, so double-check dates before saving.