How do I create a New Year?

Go to System > System Utilities > New Year Setup

  1. Enter the next fiscal year in Create For Tax Year

  1. Select Use YTD or Budget Figures, this defaults to Budget which is the most common practice.   

  1. Enter Percent Increase to add a percentage increase to all budget items from the prior years budget.  This defaults to zero which is the most common practice.

  1. Check Save Existing Budget to set budget to blank or save a budget that has already been created. Leave unchecked to copy the budget from the current year into the new year.

  1. Check Use First Month for Budget to put the entire budget into one month instead of distributing over 12 months.  This  defaults to being checked as using First Month for Budget is the most common practice.

  1. If any changes have been made to any account settings since the last time a New Year's Budget was created, check the appropriate boxes in Account Settings.

  1. Click Run
Congratulations, you are done!


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