SMART Finance Related News
There are two extra Periods built into the Accounting Calendar. Once period 202512 is open, the next period number for FY25 is 202513. This period can be used for fiscal yearend journal entries, including auditor’s adjustments. The last period for FY25 is 202514. This period is for Region 1 use only. We use this period to do closing entries. Closing entries zero the expense and revenues, and move the dollars to the fund balances. Note that for periods 202513 and 202514, the GL is the only application that can be set to Open. And, the GL for these periods must be open before the first period of FY26 can be open, which is period 202601.