The latest release of Alma added functionality to the Fiscal period rollover that offers an option to Allocate new funds based on the Cash Balance of the same fund in the closing Fiscal period. We’ve been testing this out and it seems while the cash balance is indeed allocated to the new period, it is also left on the old period!

This means the same money is being reported and allocated twice on Alma, which leaves great scope for confusion and I believe is contrary to good accounting practice.

I believe this enhancement needs a further tweak, to allocate the cash balance to the new fiscal period fund and deallocate it from the prior fiscal period - in effect a transfer and not a new allocation.