Changing the Finance Year from a Calendar Year to a Fiscal Year

Follow

With the changes made to the Finance Module in the 9.0 update, how you change from a Calendar Year to a Fiscal year and vice versa in the software is different compared to the prior version.


For example, let say you are currently in 2024 and your current finance year in Shepherd’s Staff is 1/1/2024 to 12/31/2024 but you want to change it to 7/1/2024 to 6/30/2025 instead. Here is what you would need to do.

  1. You will want to enter all your Finance Data up to the starting date for the finance year you want to change to. For example, since we are wanting to go to 7/1/2024 as our start date we will want to only enter in finance data up to 6/30/2024. You will not want to enter in any data after this point.
  2. On “7/1/2024” close the Finance year 2024 which will open finance year 2025 with the dates of “1/1/2025 to 12/31/2025”.
  3. Run the Year-End Reports for the prior finance year. This will be a shortened year and you will want to document that somewhere.
  4. After the reports have been run, you will then want to go to Tools / Settings in Finance to change the finance year from “1/1/2025 to 12/31/2025” to “7/1/2024 to 6/30/2025” by checking the Settings Check box and editing the Finance Year.
  5. Once the Finance year has been changed you can now begin recording your data for Finance year ‘2025’.

To make changes to the Finance Year for Shepherd’s Staff you will need to have Supervisor Access to the Finance Module.