In this guide we will show you how to:
- Create a New financial year
- Open a financial year
- Delete a financial year
- Audit history of a financial year
Related guides: How to manage the MAT Finance Year End process
Access: To carry out this task, you will need the following permission from within the Finance Module of Config > Setup > Roles & Permissions.
Finance > Routines > Financial Year Maintenance
Create a new financial year
Click on New to create a new financial year.
Complete the New Year pop up and press Save.
Note: Monitor Spend against cost centres tick box: If ticked, when a posting is going to cause the Cost Centre Spend to go over budget, the system will not allow this. If unticked, postings and overspend are allowed.
Creating a new financial year automatically adds a new Budget Scenario to the Finance > Budgeting > Scenarios page.
Open a financial year
Select a financial year from the table with Status ‘Not Started’ and click on Open.
Click Open in the Open Year Confirmation pop up to confirm. The Status will update from Not Started to Open.
Delete a financial year
Select a financial year from the table with Status ‘Not Started’ and click on Delete.
Note: This will also delete the linked Budget Scenario.
Click Continue to confirm.
Select a financial year from the table and click on the Audit History icon.