• Go to General Ledger > Setup tab > General Ledger Profile > Fiscal tab

• When 1^st Year listed is the current Fiscal Year: Select Record > Insert from the Menu Bar. When 1^st Year is the new Fiscal Year, no changes needed.

• Record > Insert inserts a blank Year field at the bottom of the list

• Type new Fiscal Year, press Enter or tab key, you will receive message “Do you want to copy the Fiscal periods from previous year”, click Yes.

• Date ranges display per Period. If dates do not display, enter the valid date range per Period. Period 13 date is the last day of the new Fiscal Year.

• Opening period(s) for new Fiscal Year, use either Option A or B:
• Option A: To open all periods for the new Fiscal Year (most common) click the Open button to the right of the new Fiscal Year, you will receive message:

“Are you sure you want to open all periods for this year”, click Yes, then click Save button.

• When save is complete a message displays in the lower left corner “Transaction complete; 1 record applied; all records saved.” 

• Opening all period(s) for new Fiscal Year:

• Option B: To open only one period, do not click the Open button, go to the Open Tab (at the top to the right of the Fiscal tab).
• On the Open tab, enter the first Year/Period of the new Fiscal Year in the list of open periods on the right.
• If there is no blank line, select Record > Insert from the Menu Bar to display a blank line at the bottom of the list and enter the one Year/Period.

• Opening one period for new Fiscal Year:

• If you used Option A to open all periods, then periods 1-12 are listed for the new Fiscal Year; otherwise, if you used Option B to open one period then only that one period for the new Fiscal Year will be listed.  Any periods listed on this tab are available for posting.

• The Current Fiscal Year and Period on the left are not automatically updated to the first period of the new Fiscal Year.

• When you are ready to change the Current Fiscal Year and Period (the Year/Period that defaults into transactions), click the Current button to the right of the first period of your new Fiscal Year.
• The Current fields on the left are updated with the selected Year/Period.
• In example on next screen, 2021/1 is the first period for this municipality; however, if your Calendar Year Alternate Period > Start Period (located on the Fiscal Tab) is not 1, then select your new Fiscal Year/alternate start period (i.e. 6 for some NY villages, 7 for some MA municipalities, etc.)

• Go to Budget Preparation > Actions > Budget Preparation > Select the budget version that needs to be posted
• Verify that the amounts to be posted are in the last Stage (for example, Adopted or Final)
• Only the last Stage is posted to the General Ledger

• If the last Stage amounts are all 0, select the Copy button. In the Copy Stage section select the Move Stage and To Stage to move the amounts from the Stage where they were entered to the last Stage.

Adopt Budget:

• Adopting the budget simply changes the status from "Unposted" to "Adopted" so that changes cannot be made, it is not posted to the General Ledger yet.
• This is the recommended time to run final Budget Preparation Reports to confirm the accuracy of what is in the last budget Stage.
• If necessary, a budget in status Adopted can be un-Adopted.

• Adopt budget by clicking the "Adopt" button.
• Date Adopted is for reference only and not printed anywhere. Enter today's date or date the budget was adopted.
• Click Adopt. The status of the budget version is updated to Adopted.

• If after clicking Adopt you receive an invalid account error, it means that one or more G/L accounts had a status change to Inactive in Chart of Accounts since the budget version was created.
• Record/Remove the inactive account from the budget version.
• If you cannot Record/Remove the account, go to Chart of Accounts, set the account status to Active, then Record/Remove from budget version. If many accounts have been made inactive, run a Budget Preparation Report with account status = Inactive to identify all the accounts that need to be removed or set to Active.

Post Budget:

• Click Post button, the new Fiscal Year must be open to continue.
• If desired, enter a Retainage % (not common)
• If you have completed required setup, check Encumber Personal Services (not common).
• If you are unsure about the options listed above, click Help for information.

• Click Post and you will receive message “Are you sure you want to post STAGE {name of your last stage}? This will Create Next Year’s Budget.”, click Yes.
• When complete you will receive message "### record(s) posted“.