Fiscal Year End Processing

Overview

If you are on a fiscal year that does not end on 12/31/XXXX, your annual processing takes place on two different dates. At calendar year end (12/31), there are certain jobs that MUST be run in order for your reporting to be correct, especially if you are a Church Extension Fund. Investments and loans have certain reporting requirements that are calendar year based. So, if your fiscal year does not end on 12/31, you will perform two year end processing events:

• On 12/31, you will perform calendar year end processing. The reports that are run on 12/31 use the job processing code of YE or EOY, depending on how your calendar was configured. These jobs typically include investment sales for the year, 1099 reports and statements, and other investment/loan reports. In addition, your investment and/or loan fields (sales for the year, interest for the year, etc.) are cleared during this processing step. These reports often require a processing date of 12/31/XXXX, and will NOT run if you attempt to do so at any other time of the year

• On the last day of your fiscal year, you will perform fiscal year end processing. The reports that are run at fiscal year end are primarily financial in nature, such as GL activity for the year, trial balance and income statement reports, and closing the accounting period. The reports that run at fiscal year end use a job processing code of FYE, and have no requirements as far as processing date.

The steps below should be followed to perform Fiscal Year End Processing.

Step 1: Set up the new fiscal year. For information on setting up your fiscal year, reference this page: Fiscal Year Setup

Step 2: Review your chart of accounts for any changes you wish to make prior to copying them forward. Then, copy your chart of accounts to the new fiscal year. For information on copying your chart of accounts, reference this page: Copying Chart of Accounts to New Year

Step 3: Perform Fiscal Year End processing. If your calendar has been configured properly, the system should automatically display the FYE code when you launch job processing on your fiscal year end date. If it does not, you can contact DDI Client Support for assistance, or manually insert the FYE code

IMPORTANT NOTE: It is important to perform the Fiscal Year Close when you do your fiscal year end processing. This step copies the ending balances from the GL to the beginning balance field in the new fiscal year. If you do NOT perform this step, your beginning balances will be 0, and will cause issues with your financial reporting.

If you have any questions on how to configure your fiscal year end job processing, please contact DDI Client Support for assistance.