At times, you may need to reopen a posting period to correct a transaction entry or investment activity.

Please Note: Opening a prior posting period will not delete past transactions or clear investment activity.

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THINGS TO NOTE WHEN YOU REOPEN:

Closed/merged funds may reopen

If you reopen over multiple periods, any funds that were deactivated or merged will need to be deactivated or merged again prior to closing the period. Make note of these funds and when they were deactivated, so you can deactivate again in the correct posting period.

We recommend using the Close Fund History report (under AUDIT LOGS) to identify when funds were closed or merged. You will need to run the Close Fund History report prior to reopening periods.

Merged Fund Note 

Merging funds combines the funds as of the previous posting period. If you want a fund merged effective 6/30, you need to perform the merge during the 7/31 posting period, or 9/30 posting period if you post quarterly.

Deactivated Fund Note

When you reopen a period, the transactions created to zero out a fund will automatically be deleted, however, any transactions that represent a transfer to another fund will not be impacted.  To make identification of these transfers easier, we recommend including a note in the transactions that are recorded to recipient funds.  The note would reference the deactivated fund that was the source of the transfer amounts.

Reviewing transactions

Once you have reopened the period(s) you can make corrections to transactions and investment activity.  For transaction corrections, we recommend navigating to Accounting>Fund Activity and using the transaction filters to find the transactions that need to be modified.  This filtered list can also be exported into a report for your record.

Once corrections have been made, you then will have to close each period that you reopened and Balance will reallocate investment activity for each period based on the changes entered.

Changes to transactions will be recorded in our audit trail and can be reviewed under Reports>Audit Logs>Change History>Transactions.

 

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Instructions for Reopening a Period

1. Select Accounting from the left side panel. Click the 'Reopen period' button in the upper right hand corner of the screen.

   

    
2. Select a period to reopen. All periods between the period you choose and now will be reopened.
    
3. Once a period is selected, a message will appear letting you know if any funds were closed or merged during that period. Any funds closed or merged during the period will be automatically reopened/unmerged and must be closed/merged again (if desired) before closing that period. You may want to make a note of any funds shown here.  
4. Click 'Reopen period'.

Reopen a Fund in the Current Fiscal Year

You can reopen a fund by reopening the period in which the fund was closed.

Reopen a Fund in a Prior Fiscal Year

Email support.balance@evertue.com to reopen a fund closed in a prior fiscal year.

Re-Closing Periods

Once the adjustments or corrections have been made in the period, you must repost that period, as well as all periods between that period and the current posting period. The period can be closed from the Accounting page. Click the 'Close period' button in the upper right hand corner of the screen and follow the instructions to re-close each open period.

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Please contact support.balance@evertrue.com if you need additional assistance reopening a period.