Ability to open up a new year without closing down the prior one

As a school we are audited in October each year (year end is 31st August). The ability to keep the prior year open whilst processing in the new academic year would be fantastic (every other system I know does this). At present, my budget holders can't see their budgets for this year as everything points to last years figures. Everything now having to be done manually by excel spreadsheets and logging costs which negates the point of upgrading to a new system.