Running the Finance Year-End Utility


The finance module is unique in that it is the only module in Shepherd's Staff that has a year-end utility. The year-end utility in the finance module is one of the last things you'll run for your year-end process of the finance module of Shepherd's Staff. The year-end utility serves the function of closing your fiscal year, which does a few different things in the finance module:

  1. Running the year-end utility makes it so any reports that look at a specific month without a year reference are referring to the month within your current fiscal year. So, a good example of this is in the statement of income and expense. The month field is referring to the month in your current fiscal year, so if you haven't ran your year-end utility yet, and you run the report for January, you'll get January of the previous fiscal year instead of the new one you're trying to start.
  2. The ending balances of your Asset, Liability, Equity and Dedicated accounts are carried forward as the beginning balance for your new fiscal year. 
  3. The balances for your income and expense accounts are set back to 0.

In addition to this, once you have ran the year end utility, you will no longer be able to edit or make changes to transactions in your previous fiscal year without rolling back your fiscal year or restoring a backup from before you ran the year end utility.

To run the year end utility, it is strongly recommended that you make a backup first. After you have made a backup, in the finance module, click on Utilities, and click on the "Rebalance" option, and choose the "Recalculate totals for the current fiscal year" and click OK. This will verify the balances of the previous fiscal year, and click "Close" when finished.

Next, click on Utilities again, and select Year End, and confirm that you have made a backup of your data. At the next screen, check the box to "Close the current Fiscal Year and open the new Fiscal Year". At this point, confirm that the dates for your new fiscal year are correct, and click Begin. Once finished, close out of the Finance Year End Utility window, and run the Rebalance utility using the same options as you did before. 


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