Note : Before you proceed with the following instructions, back up the database. If your organization integrates multiple Blackbaud products, refer to the Additional Requirements section of the backup article. Organizations that have their databases hosted by Blackbaud Hosting Services do not need to make a backup as Blackbaud does this for you automatically.
Note: Once you close a fiscal year, information remains available for reporting until it is purged. However, you cannot post new activity to a closed year.
Note: This is an exclusive process and all other users must be logged out of the system during this action. If your database is hosted by Blackbaud Hosting Services, please contact support for assistance with running an exclusive process in Blackbaud Hosting Services.
Because closing your fiscal year is a process that cannot be undone without restoring to a backup, you should make all necessary adjustments and run several reports to ensure your data's accuracy before closing your fiscal year:
- Review What reports to run before hard closing a fiscal year.
- Make a backup of your database only if your database not hosted by Blackbaud Hosting Services
- Pre-close the fiscal year. A pre-closing is a mock closing that can be used to temporarily close a year in order to speed reporting.
To hard close the fiscal year:
- Define at least one subsequent fiscal year.
- From the Administration page in General Ledger, click Close fiscal years.
- Select Close fiscal year from the Action drop-down menu.
- The Fiscal year will default to the earliest open fiscal year the database.
- Select the appropriate Report Options.
- Click Run Now. A screen appears confirming you want to pre-close or close the fiscal year.
- Click Yes to continue pre-closing or closing the fiscal year.
- If the program detects errors during the pre-closing or closing process, you can view the End of Year Error Report to see where problems exist. To return to the Close Fiscal Year screen, close the report.
Note: If errors are reported in the End of Year Report, correct the errors and begin the process again.
- If the pre-close or close process is successful, a confirmation message appears.
- Click OK to process the End of Year Report. If you preview the report, you can return to the Close Fiscal Year screen by closing the report. If you print the report, the program automatically returns to the Close Fiscal Year screen.