Overview

Follow these steps to prepare for the Year-End Rollover as a school user in SchoolFunds Online. Complete the last month of your fiscal year’s bank reconciliation and print all necessary reports so your district administrator can complete the year-end rollover.


Before you begin

If your school uses purchase orders, please reference the Purchase Order Instructions document before completing any additional steps.


Steps

  1. Complete all the last month of your fiscal year’s transactions, including receipts, disbursements, and journal entries.
  2. Post any transfers necessary to close an account or clear a negative account balance before the year is closed.
  3. Bring any account that should be inactive in the new fiscal year to a 0 balance before continuing the year-end process.
  4. Confirm with your district administrator if they would like negative balances to be cleared before closing the year.
  5. While completing the last month of your fiscal year’s bank reconciliation, confirm that the only items listed on Step #5 are bank errors that are to be corrected by the bank next month.
  6. Print all bank reconciliation reports.
    • Select the green FINISH button after printing.
  7. Print a Receipts and Disbursements Report using your fiscal year-end date.
    • Clear Exclude Beginning Year Balances.
  8. Print the following reports for documentation and audit purposes:
    • Account History Report - Use the beginning and ending dates of the fiscal year you are rolling over. Select your cash/check account to be printed. Due to the size of the report, it may be slow to process.
    • Registers - Print the following registers using the beginning and ending dates of the fiscal year you are rolling over: Check, Receipt, Journal Entries, and Purchase Orders.
  9. Notify your central office district administrator once you have completed these steps.
  10. Wait for notification from your district administrator that the year-end process has been completed for your school.

Outcome

You are now ready for the new school year.


Troubleshooting

  • You still have open purchase orders - Reference the Purchase Order Instructions document before completing the remaining year-end steps.
  • You still have items on Step #5 of reconciliation - Only bank errors that are to be corrected by the bank next month should remain.
  • You cannot post transactions in the new fiscal year - You will not be able to post transactions in the new fiscal year until you receive notification from your district administrator that the year-end process has been completed for your school.