Year End Processes

There are two year ends you will encounter - the Fiscal and the Calendar. Most likely these will coincide at the end of December of each year. However, some churches end their fiscal year at some other time during the year - usually June 30. For the fiscal year end, you will need to do year-end budget tasks (if your church has made a budget), zero out funds as necessary, print year- and month-end reports, and back up data. For the calendar year end, you will follow the usual steps for month end with the addition of printing a 1099 report and printing and distributing contribution receipts. Whether you are performing a fiscal year end, calendar year end, or both - Jewel's NextStep button will guide you through the steps you need to take.

Once you have completed the last offering of the fiscal/calendar year end, Jewel will begin guiding you through the last month end process, which then continues into the year end process. Please read through this section carefully, as there are some steps which must be done manually before printing monthly reports.

Year-end Budget Tasks

If you wish to re-use this year's Budget Allocations for next year, you will need to manually transfer them to the next fiscal year before you close the month. Go to Maintenance -> Edit Budget Allocations, and click Copy from This Year to Next Year. Once the allocations are copied, you can edit them at any time during the fiscal year. You can also add a new budget at any time during the fiscal year.

Zero Out Funds

If there are parent accounts that you want to start with a zero balance for the New Year (such as any excess Church Expense to a Reserve Account) the transfer must be made before the Month End Closing. There cannot be any entries made between the Month End closing and the Annual Closing. The computer will zero out the sub-accounts indicated in Properties -> General tab. The treasurer cannot make any manual changes, so please ensure that this choice is set correctly before the Month End Closing.

Print Reports

Jewel will print both month-end as well as year-end reports. The default year-end report setting is just one report: a year-to-date Financial Summary.

Form 1099 Payments

This report assists in the preparation of IRS Form 1099, which in the United States must be provided to each vendor who has been paid more than a specified cumulative amount during the year. First select the time period you want. Click on the Choose Form 1099 Payments button, then select a vendor. This screen shows all payments made to the vendor, and allows you to choose the payments that apply to Form 1099. When finished adding all the vendors that need a Form 1099, click OK. Jewel then generates a report of vendors and their total payments, from which you can then generate your Forms 1099 in the manner recommended by your conference.

Contribution Receipts

Contribution Receipts must be printed and distributed at the end of each calendar year, regardless of whether the fiscal year has ended as well. Jewel automatically prints these receipts during the year-end process included in December's closing. These receipts are to be distributed promptly for the donors' records and tax returns. You can mail them, email them, hand them out at church, or have the donors pick up the receipts from you.

Signature for Receipts

Before printing, you have the option to import an image of your signature so that Jewel can print it on receipts. Go to Maintenance -> Properties -> Church Info tab, and follow the instructions here.

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Return to previous section: Month End Processes

Continue to Chapter 4: Bank Reconciliation