User Support Forum

Prior to Version 12, you can have up to 18 months open in Funds Accounting, there is really NO need to close a month until you have to.
In Version 12, you can still have many months open, but you can now reopen a month that you closed.

That said .....

WHY keep a month open?

Glad you asked that question. Here's a recent example:

A user found that there were some inaccurate transactions in the previous year, and they needed to be reversed. Unfortunately, that month and year was already closed. The question was if there was a way to post to that year, the answer: no, once its closed its closed. You can't open it, post to it, or change/modify/reverse anything.

Here's a video that gives you some information about what you should do:

https://www.powerchurch.com/support/363 ... ting-month

I see reason why not to close. But right now I am at my mx (18) Program will not let me post in July How do I fix this problem? Tks

ForsythUMC wrote:I see reason why not to close. But right now I am at my mx (18) Program will not let me post in July How do I fix this problem? Tks

As mentioned, there is a MAX of 18, you have to close one to use the next.

You have to close the first open month, which I suspect is January 2014, to use July 2015.

I can see the benefit of leaving as many months open as possible to correct previously incorrect postings, but how does one do that if the financials have already been presented to the members? For instance, if they have been presented for the third quarter 2016 and you find an error in the 2nd quarter 2015 and go back and correct it, then all the reports after 2nd quarter 2015 hve been reported incorrectly and don't you have to go back and present corrected reports?

LQ Helper wrote:I can see the benefit of leaving as many months open as possible to correct previously incorrect postings, but how does one do that if the financials have already been presented to the members? For instance, if they have been presented for the third quarter 2016 and you find an error in the 2nd quarter 2015 and go back and correct it, then all the reports after 2nd quarter 2015 hve been reported incorrectly and don't you have to go back and present corrected reports?

Not necessarily, you need to present this to your auditors, and your church board as the oversight body. However, the error has to be corrected or your financials will be off. You can add an addendum to your end of year report pointing out the change and why it was done.

Much easier. Thank you so much.