Fiscal Periods

Setting Up a Fiscal Period

An automated process creates the next fiscal year daily (overnight). This process only runs if the first period starts on the 1st of a month. If an association uses a different start date, the automated process skips that association, since it expects the association to set up the fiscal year manually (see Manually Entering Fiscal Periods).

If you make changes to one year, those changes won't carry over to the next year if it already exists.

To set up fiscal periods and their start dates for a calendar year for each association:

Select Accounting > Fiscal Periods. If you are using universal navigation, click Accounting > Settings > Fiscal Periods.
Select an association.
Enter each line, then click Save. Fiscal years can be configured up to 15 years beyond the current calendar year.

Closing a Fiscal Period

Select Accounting > Fiscal Periods. If you are using universal navigation, click Accounting > Settings > Fiscal Periods.
Select an association.
Select the Close tab to close a fiscal period.
Close the appropriate period each month (and all previous months) or close them all at the end of the fiscal year.
Select the periods to close, then click Post. This posts a retained earnings entry to the GL.

Reopening a Fiscal Period

Select Accounting > Fiscal Periods. If you are using universal navigation, click Accounting > Settings > Fiscal Periods.
Select an association.
Click the Reopen tab.
Select the period(s) to reopen and click Save.

Fixing a Fiscal Period

If a fiscal period's dates are out of order, clear and re-enter the fiscal year start date.

Select Accounting > Fiscal Periods. If you are using universal navigation, click Accounting > Settings > Fiscal Periods.
Select an association.
Open the desired Fiscal Year.
Delete the Starte Date in the first fiscal period date field and press the Tab key to remove the row from the table.
Continue deleting all dates until every fiscal period date field for that year is blank.
Click Save.
Re-enter the Start Date for the fiscal period and click Save. The remaining dates for that fiscal year will automatically populate.

Exporting a Budget Worksheet

Select Accounting > Export Budget Worksheet. If you are using universal navigation, click Accounting > Budgets.
To import a budget to CINC Core, download a spreadsheet with the correct format to the import data. Ending Date defaults to the last day of last month but can be changed.
Choose a Distribution method of Annual or Monthly. Monthly amounts may be manipulated if they total the annual amount.

The worksheet request is queued, and an alert will display when it has been generated.