No budget after Year End Close

Owned by Knowledge Assistant
Last updated: Dec 22, 2023
Description of Issue

No budget after Year End Close process

Budget didn't move over after closing the year

Context
  • Year End Close
  • Open New Year
  • Budget Posting
  • Account Inquiry
  • YTD Budget Report
Cause

Soft posted budget (Post to Master for Reports) is removed when fiscal year end close is run. 

Resolution

The budget projection for the year that was just opened (Current Year in GL Settings) must be hard posted using the Budget Completion Journal/Update program. 

In Budget Settings program: Verify that the Budget Preparation for value reflects site's Current Year

In Budget Completion Journal/Update program: 

  1. Define
  2. Update fields to reflect budget projection to be posted
  3. Accept
  4. Review proof report for accuracy
  5. Output/Post 

Advisable to save proof and posting reports for review.

Additional Information

This is correct functionality. Refer to Year End Close Prep and Processing Checklist for your EERP version.  https://tylercommunity.tylertech.com/enterprise-erp/enterprise-financial-management/w/wiki/21330/fiscal-year-end-processing