Closing an Employee's Fiscal Year will close the previous Fiscal Year and create new data for the next Fiscal Year. This will allow them to start accruing their benefits for the new year. The new Fiscal Year data will be calculated based on the Leave Program and individual Employee settings. The process will calculate any rollover time as configured in the Leave Program. A prior Fiscal Year can only be closed after the start of the next Fiscal Year. There can only be one Fiscal Year open for an Employee at one time.
Closing Multiple Employee's Fiscal Years
The Fiscal Year Close is under the Settings->Close Fiscal Year menu item. This will show a list of users that have a Fiscal Year ready to close. You can choose which employees to close from the list. Note: This list will not have any data until there are employee’s that have a Fiscal Year that is ready to be closed.
In this case there are two employee's that can have their Fiscal Year closed.
Both Employees have been selected.
Clicking the Close Fiscal Year button will present the following confirmation dialog.
Click "Ok" to continue or "Cancel" to go back
When the process is complete you will see the following dialog. Click "Ok" to continue.
The Fiscal Year has now been closed for the selected Employees.
Closing Individual Employee's Fiscal Years
The Fiscal Year Close can be also be done for each employee individually by clicking the “Close Fiscal Year” button in the Employee List.
After clicking the “Close Fiscal Year” button you will be presented with a dialog to confirm to continue. Closing the employee’s Fiscal Year is permanent and cannot be undone.
Once the Fiscal Year has been closed you will see a message indicating success.