Year-End Close is the annual financial process where your school or district closes out the current fiscal year and rolls its ending cash and fund balances forward to become the official beginning balances of the new fiscal year.
What year-end close does
At the conclusion of your fiscal year (e.g., closing FY 2025–2026), running the Year-End Close process:
Calculates final audited ending balances for all active funds and sub-accounts.
Creates the Period 0 Beginning Balances in the new fiscal year (e.g., FY 2026–2027) so opening balances match prior closing figures to the penny.
Archives transactions from the closed fiscal year while preserving full historical audit access in reports and history screens.
Pre-close checklist (before running year-end close)
To ensure an accurate roll-forward, complete these prerequisite steps before initiating Year-End Close:
Post All Pending Transactions: Ensure all receipts, deposits, vendor invoices, check disbursements, and transfers for the closing year are fully entered.
Resolve Outstanding Invoices: Clear or cancel any stale open purchase orders or pending invoices that should not carry forward.
Complete Final Month Bank Reconciliation: Perform and finalize the bank reconciliation for the final fiscal month (e.g., June 30). Confirm the Difference is $0.00 and attach the bank statement PDF.
Close All 12 Fiscal Periods: Verify that all monthly periods in Settings > Fiscal Periods for the closing fiscal year are marked Closed.
Run & Print Year-End Financial Reports: Print the final Fund Balance Report, Check Register, and Annual Statement for district records and principal sign-off.
Step-by-step year-end close procedure
Once your pre-close checklist is verified:
Navigate to Settings > Year-End Close.
Review the Closing & Target Fiscal Years: Confirm the closing fiscal year (e.g., FY 2025–2026) and the destination year (e.g., FY 2026–2027).
Preview Balances: Select Preview Balances. The system displays a comprehensive audit table listing every fund account, its final closing balance, and the proposed opening balance for the new year.
Execute Year-End Close: After reviewing the preview table, click Run Year-End Close.
Confirmation & Audit Voucher: The system locks the closing year, creates opening balances in the new year, and prompts you to print the official Year-End Close Summary voucher.
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