In order to set the Current processing month/year is equal to period 13 Y/E field to checked in order to complete the G/L year-end process, the Fiscal ending month and Current process month and year fields must be the same. However, the system will not let you update the Current process month and year to match the Fiscal ending month while also checking this flag. The two fields must be set to the same period, saved, and then the Y/E flag can be checked.
 
CU*Answers best practice is to "close" your books monthly to ensure that no entries can be posted to a previous date accidentally by your staff. When your credit union takes the option to run Tool #360 "End of Month Processing," the system automatically updates the Current process month and year field on the Chart of Accounts to reflect the change. By doing this, your Chart of Accounts will already be set to Dec 20xx when it comes time to perform the G/L year-end closing procedures. If you skip this step during month end, you must first update the Current process month and year field to prepare for year-end. For more information on completing month-end closing, refer to the Balancing Made Easy Booklet.