The Beginning Balance should always equal the Ending Balance from the previous year. If this is not the case run a Soft Year End Close.
To run a Soft Year End Close follow these steps:
- In Enterprise choose General Ledger > Processes > Year-End Close
- From drop down choose the Year that need to be soft closed
- Enter Trans Date as last date of fiscal year
- Make sure 'Soft Year-End Only' and 'Combine Beg. Bal.' checkboxes are checked
- Close All Grant/Cap Ex Funds - only click this if your Grant/Cap Ex accounts are to be closed to fund balance
- Click the Post button
When running a Soft Year-End Close if the next year is not the current year must run for all other years until the current year is reached.
Example: If running for 2014 and current is 2018, must run for 2015, 2016, and 2017