Financial End Of Year
When creating a Budget Period, you will also assign an end date, which means that at the end of the year, you'll simply
Set your Income/Expense date range to the PAST year (Jan 1 - Dec 31)
Ensure that all Income Receipts are recorded,
Record all Expenses (if your local is using groupable|m2 for Disbursement Authorizations)
- Transfer any untransferred funds, (transfer date can be set at 12/31 of the year)
- Calculate Checkbook for end of year,
Print off your budget report for the year ending, and
- Create a new Budget Period for the upcoming year.
- Set your Income/Expense date range to the CURRENT year (Jan 1 - Dec 31)
Consolidated 990s / Annual Financial Reports:
Your Jurisdiction may require an Annual Financial Report to be submitted so that they can file a consolidated 990 for all local groups. When your Parent Group requires this Annual Financial Report, the Grand Lodge or Grand Chapter will open the year for Financial Entries and provide you with instructions. See how to navigate to: Annual Financial Reports.
Membership End Of Year
Ensure that your member events are entered before the Annual Returns/Recaps are closed, and check that these events appear on the Annual Return draft.
Generally, your Parent Group will then send you an invoice or bill based on your Annual Return numbers.
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