Entries to the last month of the fiscal year should be done same as every other month. You may continue to do day-to-day entry into the new year (or the old year) whether you have run year-end reset or not, based on controls set in Settings > General Ledger > Entry Options or Accounts Payable > Entry Options.

These two settings control how many months forward/back entry is allowed for your organization.

When the regular monthly entry is complete for the last month of the fiscal year, you are ready to run the Year End Reset; later you may do additional journal entries to the prior year as needed.

• You should have already reset the period to be the first period of the new fiscal year. Menu option Month End > Accounting Period Reset should show the current month as the first month of your fiscal year.
• All users should stay out of SGA Accounting while the year end reset runs.
• Run the menu option Month End > Year End Reset.
• If, after the year-end reset has been run and you have additional entry to make into the prior year, you can still do so by changing the accounting period on the entry screen. To make a journal entry to the 13th period, on the Journal Entry screen, change Period to 13/xxxx (your fiscal ending year). The system will automatically adjust the year-end closing entries for any entry that was done into a prior year, as well as adjust balance forwards to the new year.

Budget considerations

• Settings > Budgeting > Allocations. If using the auto-calculation tool called Budget Allocations, these should be in place for the new year. If not, they may be copied from prior year by clicking Copy.
• Settings > Budgeting > Years. The new year budget is probably already in place. If not, see Budget Setup for New Year.
• If your organization uses Forecast (revised budget), you will need to setup the Forecast for the new year. See Forecasting.