Overview

Follow these steps to complete the Year-End Rollover as a District user in SchoolFunds Online. This article explains how to prepare each school for the new school year, complete the year-end rollover, verify balances, and update the district fiscal year start date after all schools are finished.


Before you begin

Every school MUST complete all transactions in the last month of the fiscal year, including the bank reconciliation, before the year-end process can be done. Use the School Status Report under Admin Functions > Audit > User Audit to determine who has not completed the June reconciliation.


Steps

  1. Select the school for which you want to run the year-end process from the drop-down list at the top of your screen.
  2. Print a final Receipts and Disbursements Report for the fiscal year.
  3. Clear Exclude Beginning Year Balances.
  4. Verify the following:
    • End of Regular Accounts ending balance matches the End of Asset Accounts ending balance.
    • End of Regular Accounts Year-to-Date Encumbrances total is $0.00.
    • End of Asset Accounts Year-to-Date Encumbrances total is $0.00.
    • If any of these do not match, create a support case.
    • Do NOT proceed with year-end for this school until these numbers are the same.
  5. From the Admin Menu, choose Year End.
  6. Confirm three green check marks, one beside each item listed.
    1. ATTENTION - If your district uses Header Accounts and you want the Expense and Revenue account balances to roll into each header, confirm there is a check mark in the box Roll account balances into header account.
  7. Select Begin Year-End Rollover.
    1. Only click the button ONCE - it may take a few seconds before message appears.
  8. Wait until you receive a message at the top of the status bar saying, Year-End Rollover is complete.
    1. If the reconciliation for the last month of the fiscal year has not been completed, or if there are any remaining open purchase orders, you will NOT be allowed to proceed unless your district is using the Carry Over PO option.
  9. Proceed to the Reports menu.
  10. Print a Receipts and Disbursements Report using the beginning date of the new fiscal year as the ending date for the report.
  11. Verify the following:
    • Beginning Month Balance is the same as the accounts ending balance figures from the first report.
    • Cash and investment accounts beginning account balances are correct.
    • End of Regular Accounts column totals equal the End of Asset Accounts column totals.
  12. Do NOT do any account maintenance until you have completed printing any state-specific consolidated reports or reprinting any Receipts and Disbursements Reports from the prior fiscal year.
  13. If needed, inactivate accounts for schools with a zero balance that will not be used in the new year. The account will no longer appear on the Receipts and Disbursements Report, Trial Balance Report, or account drop-down lists :
    1. Go to Data Files > Account.
    2. Select the account.
    3. Select the drop-down menu next to Active.
    4. Select Inactive.
    5. Select Update to save your changes.
  14. Repeat steps 1-13 for each school to prepare them for the new school year.
  15. After you have completed the year-end rollover for ALL schools, go to Admin > District.
  16. Change the fiscal year start date to the appropriate date.
  17. Select Update at the bottom of the screen to confirm.

Outcome

You have successfully completed the year-end rollover for all schools and updated the district fiscal year start date for the new school year.


Troubleshooting

  • A school cannot proceed with year-end - Confirm the school has completed all transactions in the last month of the fiscal year, including the bank reconciliation, and that there are no remaining open purchase orders unless your district is using the Carry Over PO option.
  • The required balances do not match - Create a support ticket and do NOT proceed with year-end for that school until the numbers are the same.
  • You need to prepare accounts for the new year - Inactivate zero-balance accounts that will not be used in the new year only after you have completed the required report printing from the prior fiscal year.