Please note that the information below is guidance for updating your organization's finances/budget section of MCR. You should seek input from your national organization and advisors for information regarding your specific budget process.
The "fiscal year" is the 12 months that define the life of your budget. (The fiscal year does not necessarily follow the calendar year of January to December.) At the end of your fiscal year, you will need to update your budgets to reflect the new budget for the year.
If you are using budgets in MCR, we suggest you or your leaders download the budgets from MCR to make sure you have a record of transactions within that specific budget. This information can provide valuable information for the future. (This is good practice even if you have it in another financial program, such as BillHighway, GreekBill or OmegaFi)
To change your budgets to match with this fiscal year, you will need to go into each budget and delete the individual line items, by clicking the trash can to the right of the amount.
If the total amount for the budget has changed for the year, you will click in the Starting Amount box at the top and type the new amount for the budget. The Starting Amount box will not be active until all items are deleted within the budget.
If you need to create a new budget, please see the tutorial for Creating & Deleting Individual Budgets.