The Post Revenue & Expense and Roll Beginning Balances forward can be performed as many times as needed. In fact, you will likely perform them at least twice - once to preliminarily complete the year end processes and start the new year's financial statements and secondly to enter the audit and later adjustments.
To perform the Year-End Process, complete the following steps after making a division backup:
- Post Revenue & Expense balances to Fund Balance account while logged in under the last day of your fiscal year that is to be closed.
- Roll Beginning Balances while logged in under the last day of your fiscal year to be closed after creating a new date table for the upcoming fiscal year.