Changing the Default Processing Year

On July 1st of each year, schools that accept financial aid will need to change the Current Processing Year setting in OnlineSMART. This will change the default Academic Year that appears in the Year dropdown menu in New Ledger Entires, ISIRs, and the Financial Aid worksheet.

Keep in mind the specific steps below are for schools that accept Federal Funding. If your school does not accept federal funding, you will still want to keep this setting updated, but you will most likely leave the processing year set to the "second" year (i.e. if the current calendar year is 2024, leave the 2023/2024 option selected). Cash Pay/Non-Title IV schools will need to change their Current Processing Year on January 1st of each year.

• To do this, navigate to the Administration menu option in OnlineSMART and select Basic Setup.




• Select the School Options tab.
• At the bottom of the page, find the Current Processing Year dropdown menu


• Change the year so the current year is the first year (for example, starting July 1st 2024, the academic year will be 2024/2025)