Familiarize yourself with the concept of closing the books by completing these 3 steps:
- Locate the Utility: Navigate to Utilities on the Main Menu. If you are using the stand-alone version of FastFund Raising (or have Admin access to the Accounting module), locate the Closing the Books function.
- Review the Controls: Imagine your fiscal year ended on December 31st and your auditors arrive in February. Think about how you would apply a Soft Close for December 31st so your daily users can keep entering February’s donations, while ensuring January and February remain open.
- Plan the Permanent Close: Acknowledge that once the auditors deliver their final report and your board approves it, you would return to this screen to execute a Permanent Close for December 31st, officially locking down the prior year’s data.