Fiscal Year Close

Quick Answer: Fiscal Year Close

Fiscal Year Close is the parent-organization workflow that locks a completed fiscal year and posts net income to the correct net asset accounts. Run a dry-run preview first, review per-fund routes, then confirm with three explicit checkboxes before anything posts.

Enterprise and Pro parent org directors. Open Administration → Close Fiscal Year. This is distinct from the Month-End Close Checklist, which helps you fix blockers before you lock a period.

Fiscal Year Close

Close the fiscal year with preview, confirmation, and reversible audit history.

Configure

• Fiscal year end: Defaults to the most recently completed year for your org based on fiscal year settings in Chart of Accounts Account Defaults
• Closing note: Optional memo stored on the close record for auditors

Dry-run preview

Click Run dry-run preview to see warnings, configuration issues, and a per-fund table of net income routed to unrestricted, temporarily restricted, and permanently restricted equity. Fix mapping errors in Account Defaults or Chart of Accounts before you post.

Post the close

1. Confirm all three acknowledgment checkboxes in the post dialog
2. Submit to post entries for every fund atomically
3. Review the history panel for audit ID and posted status

Reversal

Posted closes can be reversed with a required reversal note. Reversal posts mirror entries and marks the audit row reversed—it does not automatically unlock the period. Contact your CPA before reversing a close that already fed tax filings.

Good to Know

Child-fund users cannot access this page. Set fiscal year start month and day in Fund Accounting → Chart of Accounts → Account Defaults before your first close.

Related: Month-End Close Checklist, Close Packet, Chart of Accounts.