The Chart of Accounts can be copied when adding a new fiscal year. Some organizations copy the chart of accounts months before closing the current fiscal year so that proposed budgets for the new year can be entered.
- From General Ledger, select Modify > Year and Periods.
- Click the Add New Year link.
- Enter the Begin Date and End Date for the new fiscal year.
- Select any other options as appropriate, then click Update at the bottom of the page.
- Select where you want the chart of accounts copied from.
Note: Normally, the chart of accounts is copied from the previous year and then manually adjusted for any account changes in the new year.
- Select the Copy Budgets? check box to automatically copy budget figures to the new year, then click Update.
- When the accounts finish copying, a summary grid appears. Click OK.
Updated