Updated 11/19/21

• The Refresh Beginning Balances featureGL> Utilities> Refresh Beginning Balancesis used to update the beginning balances of the fund balance accounts in the current fiscal year after you have committed a batch or journal entry in a prior fiscal year. The beginning balances of asset and liability general ledger accounts update automatically as transactions are posted to previous fiscal years, so this process does affect those accounts.Check the Start toggle next to the fiscal year where you would like the refresh beginning balance process to begin. The Refresh Beginning Balances process will begin at the fiscal year in the From column. It is common to only refresh the most recent fiscal year. Be very cautious if selecting prior fiscal years because typically those fiscal years have been audited and you would not want to potentially change balances in those years..
  • All Start toggles after the selected fiscal year will be checked. This means the beginning balance of all subsequent years will be refreshed. You cannot change the Start toggle selections so that only a single fiscal year in the past will have its balances refreshed.
  • The Fund Balance column will display the fund balance account where the Refresh Beginning Balances process will begin.  If you fund balance account has changed the window will only display the current fund balance for all years.

Once the Refresh Beginning Balances utility has completed, all revenue and expense accounts as well as other balance sheet accounts for the years selected will be updated.