Hard Close Funds

Financial Management > Year-End Processing > Hard Close Funds

The hard close process prevents all users from posting to the fiscal year selected to hard close. The hard close process should not be performed until all G/L transactions are completed and posted to the fund, including all audit entries. All prior fiscal years must also be hard closed before the current year can be hard closed.

Note: The hard close process does not need to be run. G/L hits to prior years can be managed by maintaining the minimum post date in Company Suite Settings.

1. Select the Fiscal Year to Hard Close and click the Search button. The open funds for that fiscal year will be listed in the grid.
2. Select the check box next to each fund you wish to soft close. If you are soft closing all of the funds in the list, click the check box in the column header.
3. Click Submit. This will put a in the Selected column so the user can see which funds will be hard closed.
4. Click the Hard Close button. This will launch the Hard Close Confirmation pop-up.
5. Click the Hard Close button to hard close the fund(s); you will see a message about the status of the funds closed.
6. Click the Close button. The hard close is complete.