We are about to begin a new fiscal year.  What do I need to do?


There are a few things you should check before you start a new fiscal year. It is best if you have entered all transactions for the current fiscal year before moving to the next fiscal year. If you start the fiscal year before you close the prior year's books, see the link below about updating starting balances. It is not necessary to wait for all of the transactions to clear the bank before changing the fiscal year. The system will take care of any outstanding transactions.

If you have In/Out accounts that that have not been zeroed out, see the link below about in/out accounts for information on these accounts. You may need to make some adjustment entries before you close out the fiscal year and start the next year.

You may have internal accounts such as Sunday School that ended the year with a negative balance. If you would like to start the new year with a zero balance, see How do I zero out Internal Accounts with negative balances?

If you have NTS version 4.40 or before, see Change Fiscal Year Instructions for old versions in place of steps 1 - 3 below.

To start a new fiscal year:

  1. Find the Fiscal Year box in the upper left corner of the checkbook screen.
  2. Click on the right or left arrow button on either side of the current fiscal year to go forwards or backwards a year.
    Change Fiscal Year
  3. A box will pop up asking if you are sure you want to start the new fiscal year. Click OK.

If you do NOT get the box asking you to confirm the fiscal year change in step 3 or you have NTS version 4.40 or below, do the following steps:

  1. Click on the Setup button and then Bank/Internal account List.
  2. Click the "Copy Previous Year or Default Acct List" button. Click OK on the next screen that appears.
  3. Exit the setup screen and you are now ready to start entering transactions in the new year.