Starting a New Fiscal Year in Tops ONEFollow
Setting up next years Fiscal year and budget has been made easy with TOPS [ONE] Accounting Year Setup Wizard.
This guide will give you step by step instructions on how to set up a new fiscal year, new accounting periods, budgets, and codes for the new year.
Check out these free resources for some more information!
Click portfolio then Communities. Select a community
Scroll to Related links select Accounting Year Dashboard
Select Set Up New Year
This will open the Accounting Year Setup Wizard, click Get Started
Enter Accounting Year Set up
The Wizard will save your settings from the previous year.
To keep the same settings, you will only need to change the fiscal year.
- Fiscal Year- Select the new year
- Start Date - Start date for your new year
- Period Frequency
- Accounting Method
- Modified Accrual
Add your Accounting Periods
Enter your Accounting Periods
You can manually type in the date, or click the calendar icon to select the dates.
Enter your next year budgets
- Filters the Budget table by Account type
- Budget table- will only show accounts that are selected. The box will be blue if it's selected
- Distribution table for the account selected on the Budget table The line highlighted in blue
- Use Last Years Values - Will keep the same budget
- Use New Values - Manually enter new budgets per account
- Enter a budget for the account
- To evenly distribute the budget for each period, click Distribute
Codes for the new year
If an Assessment has multiple Code categories, you can click the down arrow to minimize that assessment.
To Edit the charge amount click the icon to make edits.
The icon will turn to a when you can make edits.
Once the changes have been completed, click
TOPS [ONE] Can assign as Reminder task to a user to finish closing the previous period.
Select a date for your reminder
Assign a user the task