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Year End Rollover and Extended Break Settlements

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Fiscal Year End Roll Over
If your offices will be closed during the time of your Fiscal Year End (such as over December 31, for example), you may want to make Year End Roll Over (YERO) preparations before you close for the season that need to occur prior to transacting any business in the new fiscal year.

Why is this important?
The primary reason Theatre Manager needs a YERO performed is to appropriately move donation funds into the correct fiscal year. Typically, future campaign funds are kept in a separate General Ledger account (deferred) until the first day of the new fiscal year. The YERO process moves these funds from the deferred account to the earned account. New donations, intended for the upcoming fiscal year, will need to be appropriately allocated according to the ACCOUNTING tab of the campaign setup. The YERO also advances the default fiscal year setting when entering a donation. If the YERO has not been performed, the funds will not be allocated to the correct fiscal year. Season and event ticket income may also be affected depending on the settings in your database.

The complete YERO steps can be reviewed and followed at Year End Rollover as it provides you the step-by-step instructions to complete the process.

Special notes:

  • Be sure to make a backup of the database prior to running the YERO.
  • Be sure to read the section on the optional step carefully. Although most organizations do not use this option - review them with your accountant to see if they do apply to you.
  • Do not interrupt the YERO process. It may take from several minutes to several hours to complete and the computer may look "stalled" during that time. Do not stop the process or interrupt the computer at any time. If you are unsure, contact Arts Management Systems Support first. If you quit the process, you may need to restore to a backup copy of the database before you can continue.

End of Day over an Extended Break
In addition, you may need to take into consideration your End Of Day process over an extended break, such as the upcoming holidays. Ideally, you need to keep the Deposits and Sales Entries portion of the End Of Day going on a regular basis over the break - bearing in mind that even though there is no one in the office selling tickets, if you have web sales, it will continue to run. Please refer to strategies to keep your system running smoothly over an extended break.