Year-End Refresh Options

The “Refresh Current Year” menu item has four options for refreshing the ATIGD Codes to Standard Defaults, Inventory and Accrued Values from the Prior Year Ending Values, Balances from Prior Year Ending Values, and Budgets from the Prior Year Values. This will allow users to refresh the accounting codes, inventory, and balances after the New Fiscal Years has been created and transactions have been entered for the new fiscal year. In the past, users were permitted to re-run the New Fiscal Year only if no transactions where entered for the new year. This will still be true with the new fiscal year process but the refresh options will allow users to work on inventory values and add missing transactions in the prior year in preparation for filing taxes and then later apply these changes back to the current fiscal period from the prior year. If you do not define budgets, it is an easy way to create a current year budget from last year’s actual transaction data. This would allow you to compare this year to last year to see how your cost and income is trending. If the backup is not current (not backed up for the current date), then the Finish button will be disabled and you will not be permitted to run the process.