RDA Systems Inc

What This Process Does

• This step will change the default Fiscal Year in the following modules:
  • Financial Management
  • Bank Reconciliation
  • Fixed Assets
  • Payroll
  • Leave Management

Best Practices

• Default Fiscal Year Setting – The Default Fiscal Year in Financial Management is the default for most, but not all, modules. Therefore, along with changing the fiscal year in Financial Management, be sure to make the change in modules that have their own default fiscal year setting:
  • Vendor Payments
  • Purchase Orders
  • Employee Absentee (used in the Add Leave and Substitutes process)
  • Various Revenue Modules (Cash Drawer, Real Estate, Personal Property, Miscellaneous Billing,
    Building Permits and Occupational Tax)

• The default Fiscal Year should be changed when the majority of transactions would fall into the new fiscal year; this could be before or after the actual first day of your Fiscal Year.

• Since this is a default, the Fiscal Year can be overridden in any process to another fiscal year as needed. This flexibility allows processing in multiple fiscal years at one time, which can be common in the months surrounding the start and end of each Fiscal Year.

Set/Change Fiscal Year Default

1. Finance → Financial Management → Maintenance → Financial Years / Current Month → Set / Change Fiscal Year OR located in the Financial Management task bar (left side menu)
2. Change to the appropriate fiscal year.
3. Click Save.