What This Process Does


  • This process creates account year masters based off of prior year account masters.


Best Practices


  • It's recommended that a new fiscal year be activated when you are close to the end of a prior fiscal year.


Open Financial Year


  1. Finance → Financial Management → Maintenance → Financial Years / Current Month → New Year → Open Financial Year
  2. Type the fiscal year that needs to be activated and give it a description.
  3. If necessary, range accordingly in the Range Criteria options.
  4. Click Update Database.
  5. No report generates. The fiscal year and updated directly to the database.


FIELDSOpt.Rec.Req.Description
Fiscal Year to Open——♦The fiscal year that is to be activated
Fiscal Year Description—♦—The description of the fiscal year being activated
Range Criteria♦——If necessary, range accordingly; the range fields allow for specific funds or account codes to be activated in the new fiscal year
Opt. = Optional  Rec. = Recommended  Req. = Required