Year End Reference - Escape Technology · 1-2 Year End Basics, Overview Overview Use this manual as a guide for beginning the next fiscal year and closing your books at year-end

YEAR END REFERENCE

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Chapter 1. Year End Basics . . . . . . . . . 1-1Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1-2Checklist for Fiscal Year End . . . . . . . . . . . . . . . . . . . . . . . . . . . 1-3

Preparing for Next Fiscal Year . . . . . . . . . . . . . . . . . . . . . . . . . . 1-3Check Your Organization Setup . . . . . . . . . . . . . . . . . . . . . 1-3Create New Fiscal Year for the System . . . . . . . . . . . . . . . . . 1-3Roll Forward Accounts. . . . . . . . . . . . . . . . . . . . . . . . . . . . 1-4

Preparing for Next Payroll Year . . . . . . . . . . . . . . . . . . . . . . . . . 1-4Create Salary Schedules . . . . . . . . . . . . . . . . . . . . . . . . . . 1-4Create Pay Schedules . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1-4Create Calendars . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1-5Create Pay Cycles . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1-5Review Other Position Control Records. . . . . . . . . . . . . . . . . 1-5Roll Forward Pos Assignments . . . . . . . . . . . . . . . . . . . . . . 1-6

Preparing for Fiscal Year End. . . . . . . . . . . . . . . . . . . . . . . . . . . 1-6Set Up Multiyear Processing. . . . . . . . . . . . . . . . . . . . . . . . 1-6Create Cash Roll Forward Journal Entry . . . . . . . . . . . . . . . 1-7Prepay Requisition Payments . . . . . . . . . . . . . . . . . . . . . . . 1-7Prepay Non-Requisition Payments. . . . . . . . . . . . . . . . . . . . 1-8

Release, Carryover, Accrue Documents . . . . . . . . . . . . . . . . . . . . . 1-8Make Requisition Payments for Last Year. . . . . . . . . . . . . . . 1-8Make Non-Requisition Payments for Last Year . . . . . . . . . . . 1-9Work Orders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1-9Vendor Requisitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1-9Stores Requisitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1-9Department Requisitions . . . . . . . . . . . . . . . . . . . . . . . . . . 1-10AR Invoices . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1-10

Inventory Assets and Stores Items. . . . . . . . . . . . . . . . . . . . . . . . 1-10Perform Asset Inventory . . . . . . . . . . . . . . . . . . . . . . . . . . 1-10Perform Stores Inventory . . . . . . . . . . . . . . . . . . . . . . . . . . 1-10

Wrapping Up Fiscal Year End (FISCAL YEAR IS OVER) . . . . . . . . 1-11Clear Outstanding Hourly Employee Payroll Encumbrances. . . 1-11Roll Leave Balances Forward . . . . . . . . . . . . . . . . . . . . . . . 1-11Fix Balance Resources That Don’t Allow Ending Balances . . . . 1-11

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Clear Outstanding Journal Entries. . . . . . . . . . . . . . . . . . . . 1-11Reconcile AP and AR . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1-11Run the Financial Statement . . . . . . . . . . . . . . . . . . . . . . . 1-12Print the Fiscal Year End Checklist . . . . . . . . . . . . . . . . . . . 1-12Close Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1-12Create Closing Journal Entries . . . . . . . . . . . . . . . . . . . . . . 1-12Close the Fiscal Year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1-12

Creating Starting Balances (FISCAL YEAR IS OVER). . . . . . . . . . . 1-13Unpost and Delete Cash Roll Forward Journal Entry. . . . . . . . 1-13Create and Post Starting Balance Journal Entries . . . . . . . . . 1-13Create and Post Starting Balance Budget Revision . . . . . . . . . 1-13

Journal Entry Types . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1-14Liability . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1-14Receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1-14YE Closing. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1-15Beginning Balances . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1-15

Chapter 2. Preparing for Next Fiscal Year 2-1Check Your Organization Setup . . . . . . . . . . . . . . . . . . . . . . . . 2-2Create New Fiscal Year for the System . . . . . . . . . . . . . . . . . . . 2-4Roll Forward Accounts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2-6

Working with Two Sets of Accounts . . . . . . . . . . . . . . . . . . . . . . . 2-7Reviewing History Records . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2-7Creating New Accounts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2-7Expiring Accounts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2-8Changing Components . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2-9

Rolling One Component to Another Component . . . . . . . . . . . 2-9Rolling Multiple Components into a Single New Component . . . 2-9Rolling Multiple Components to an Existing Component . . . . . 2-10

Chapter 3. Preparing for Next Payroll Year 3-1Create Salary Schedules . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3-2

If Salary Schedules ARE Changing Next Year . . . . . . . . . . . . . . . . 3-2If Salary Schedules are NOT Changing Next Year. . . . . . . . . . . . . . 3-3

Create Pay Schedules . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3-4Create Calendars . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3-5Create Pay Cycles . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3-7Review Other Position Control Records . . . . . . . . . . . . . . . . . . . 3-9Roll Forward Pos Assignments . . . . . . . . . . . . . . . . . . . . . . . . . 3-10

Commonly Asked Questions . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3-12Troubleshooting . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3-14What Should I Do Next? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3-15

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Chapter 4. Preparing for Fiscal Year End 4-1Set Up Multiyear Processing . . . . . . . . . . . . . . . . . . . . . . . . . . . 4-2Create Cash Roll Forward Journal Entry . . . . . . . . . . . . . . . . . . 4-4Prepay Requisition Payments . . . . . . . . . . . . . . . . . . . . . . . . . . 4-7

AP Payments Activity . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4-7Enter Payments Activity . . . . . . . . . . . . . . . . . . . . . . . . . . 4-7Final Payment versus Partial Payments . . . . . . . . . . . . . . . . 4-8What Do I Do Next? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4-8

Prepay Non-Requisition Payments . . . . . . . . . . . . . . . . . . . . . . 4-9

Chapter 5. Release, Carryover, Accrue Documents . . . . . . . . . . . . . . . . . . . . . . 5-1Year End Closing Activity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5-2

Understanding the Process. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5-3What If Accounts Don’t Exist in the New Year? . . . . . . . . . . . . . . . 5-5What If There Is Unpaid Sales Tax?. . . . . . . . . . . . . . . . . . . . . . . 5-6What If the Account Distribution is Tied to Line Items?. . . . . . . . . . 5-6Error Messages . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5-7

Already in Fiscal Year . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5-7Does not Match Expected Status . . . . . . . . . . . . . . . . . . . . . 5-7

Make Requisition Payments for Last Year . . . . . . . . . . . . . . . . . 5-8Carried Forward When You Meant to Accrue . . . . . . . . . . . . . . . . . 5-9

Make Non-Requisition Payments for Last Year . . . . . . . . . . . . . 5-10Work Orders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5-11Vendor Requisitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5-12

Working Your Vendor Requisition List . . . . . . . . . . . . . . . . . . . . . 5-12Set up an Accrual (Payable) for Next Year. . . . . . . . . . . . . . . 5-13Carry Over Requisition to Next Year . . . . . . . . . . . . . . . . . . 5-13Release the Funds of the Requisition . . . . . . . . . . . . . . . . . . 5-14

What If I Carried Forward Too Soon . . . . . . . . . . . . . . . . . . . . . . 5-14What If I Need to Make a Change?. . . . . . . . . . . . . . . . . . . . . . . . 5-15

Base Year Is Open; Next Year Account Needs Changing . . . . . 5-15Base Year Is Open; Base Year Account Needs Changing . . . . . 5-16

Stores Requisitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5-17Department Requisitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5-18AR Invoices . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5-19

Working Your AR Invoices List . . . . . . . . . . . . . . . . . . . . . . . . . . 5-19Set up an Accrual (Receivable) for Next Year . . . . . . . . . . . . . 5-20Carryover the Invoice . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5-20Release the Receivable of the Invoice . . . . . . . . . . . . . . . . . . 5-20

What If this Isn’t the First Year I Carried Over? . . . . . . . . . . . . . . 5-20What If I Need to Make a Change?. . . . . . . . . . . . . . . . . . . . . . . . 5-21

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Some Common Year End AR Scenarios . . . . . . . . . . . . . . . . . . . . . 5-22Base Year: Receive Next Year’s Money for Posting in Base Year 5-22Base Year: Receive Next Year’s Money for Posting Next Year . . 5-23Base Year: Receive Base Year’s Money for Posting Next Year . . 5-23Next Year: Receive Base Year’s Money for Posting in Base Year 5-23Next Year: Receive Base Year’s Money for Posting Next Year . . 5-24

Error Resolution . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5-25Amounts cannot be negative . . . . . . . . . . . . . . . . . . . . . . . . 5-25Can not accrue requisition, account “xxx” is expired, doesn't exist or contains

expired component(s) in new year. . . . . . . . . . . . . . . . . . . . . . . . . . . 5-25Expense account does not exist in new year and year end error account is invalid

or not setup. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5-25Outstanding receipts.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5-25Processed - One or more accounts are missing in new fiscal year 5-26

Chapter 6. Inventorying Assets . . . . . . 6-1Checklist . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6-2

Checklist for Vendors. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6-3Inventorying Fixed Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6-4

Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6-4Define Your Search Criteria . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6-5Export the Data . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6-7Perform Physical Inventory . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6-7Import the Spreadsheet File . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6-8

Unmatched . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6-10Create a List of Missing Assets . . . . . . . . . . . . . . . . . . . . . . . . . . 6-11

If the Asset Is Found . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6-11If the Asset Is Not Found . . . . . . . . . . . . . . . . . . . . . . . . . . 6-12

Dispose of Assets as Appropriate . . . . . . . . . . . . . . . . . . . . . . . . . 6-12Print Reports . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6-13

Barcoder Import . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6-14Creating the File Using the Barcoder . . . . . . . . . . . . . . . . . . . . . . 6-14Uploading the File . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6-14Using a Barcoder for Data Entry . . . . . . . . . . . . . . . . . . . . . . . . . 6-15

Batch Updates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6-16

Chapter 7. Inventorying Stores . . . . . . 7-1Checklist . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7-2Inventorying Stores Items . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7-4

Balancing the Stores Account . . . . . . . . . . . . . . . . . . . . . . . . . . . 7-5Discrepancy Between Stores Valuation and Stores Account. . . . 7-6Updating Skipped Records . . . . . . . . . . . . . . . . . . . . . . . . . 7-6Handling Stores Returns from Prior Fiscal Years . . . . . . . . . . 7-6

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Chapter 8. Wrapping Up Fiscal Year End 8-1Clear Hourly Employee Payroll Encumbrances . . . . . . . . . . . . . 8-2Roll Forward Leaves . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8-3

Special Considerations. . . . . . . . . . . . . . . . . . . . . . . . . . . . 8-4End of Year Leave Balances . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8-4

Carrying Over Leave Balances . . . . . . . . . . . . . . . . . . . . . . 8-4Paying Off Leave Balances . . . . . . . . . . . . . . . . . . . . . . . . . 8-5Excess Vacation Leave Balances . . . . . . . . . . . . . . . . . . . . . 8-5

Balance Resources that Don’t Allow Ending Balances . . . . . . . 8-7Clear Outstanding Journal Entries . . . . . . . . . . . . . . . . . . . . . . 8-8Reconcile AP and AR . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8-9Run the Financial Statement . . . . . . . . . . . . . . . . . . . . . . . . . . 8-10Print the Fiscal Year End Checklist . . . . . . . . . . . . . . . . . . . . . . 8-11Close Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8-12Create Closing Journal Entries . . . . . . . . . . . . . . . . . . . . . . . . . 8-13Close the Fiscal Year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8-14Unpost and Delete Cash Roll Forward Journal Entry . . . . . . . . . 8-15Create and Post Starting Balance Journal Entries . . . . . . . . . . . 8-16

Step by Step . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8-17Create and Post Starting Balance Budget Revision . . . . . . . . . . 8-18

Chapter 9. JE Management . . . . . . . . . 9-1Journal Entry Basics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9-2

Journal Entry Activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9-2Approvals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9-3Cash and Close Dates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9-3

Journal Entry Statuses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9-4Searching for a Journal Entry . . . . . . . . . . . . . . . . . . . . . . . . . . 9-6

Journal Entries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9-6Reference Numbers. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9-7Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9-8Accounts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9-8

Fields in a Journal Entry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9-9Manual Journal Entries Types . . . . . . . . . . . . . . . . . . . . . . . . . . 9-10Main Tab . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9-11

Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9-11Reference Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9-12Posting Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9-12

Adding Line Items . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9-13Creating JEs for Offline Organizations . . . . . . . . . . . . . . . . . . . . . 9-14

Saving/Submitting a Journal Entry . . . . . . . . . . . . . . . . . . . . . . 9-15Submitting the Journal Entry . . . . . . . . . . . . . . . . . . . . . . . . . . . 9-15

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Approval Override. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9-16Cash Posting Closed . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9-16Expired Accounts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9-16Exceeds Major Object Balance . . . . . . . . . . . . . . . . . . . . . . . 9-16Insufficient Funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9-17

Editing While Submitted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9-17Copying a Journal Entry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9-17Returning to Open . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9-18Reversing a Journal Entry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9-18

Approvals Tab . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9-19Denied Journal Entry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9-20

Journal Entry Types and Sources . . . . . . . . . . . . . . . . . . . . . . . . 9-21Accrual (AP, AR). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9-21Accounts Receivable (AR) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9-21AP (EX). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9-21Original Budget (BA, TB) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9-21Budget Revision (BR). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9-22Budget Transfer (BT). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9-22Cash (CA) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9-22Cash Receipt (AR) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9-23Year End Closing (CL) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9-23County (CT) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9-23Encumbrance (EN, PR, PE) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9-23Expense (EX) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9-24General (GJ) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9-24Hourly Encumbrance (GJ) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9-24Interfund Due To/From (IF) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9-24Interfund Cash (IFC) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9-25Payroll (PR) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9-25County Initiated Apportionment - Revenue (CT) . . . . . . . . . . . . . . . 9-25Beginning Balance (BB) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9-25Stores (ST). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9-26

Journal Entry Transaction Types . . . . . . . . . . . . . . . . . . . . . . . . 9-27Debits and Credits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9-28

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CHAPTER 1Year End Basics

This chapter will introduce you to the year end process.

Tip

Many activities in different modules are used during the entire process. Each procedure will note which role you must have to perform the function.

Year End Basics 1-1

Overview

Use this manual as a guide for beginning the next fiscal year and closing your books at year-end. This manual should be used by employees who are responsible for reconciling, working with auditors, and closing the books. Other users include those responsible for system setup, for stores and fixed asset inventory and for year-end requisition processing. Year-end closing involves almost all users.

This manual describes the entire process. This manual is NOT intended to be your only source of information on year-end procedures. Use this manual to guide you through this busy time of year. We encourage you to call Customer Care with any questions that arise.

And one final note: this manual is task-oriented. As such, it contains a section on each year-end task or function. It is organized in the order in which the tasks should be performed.

A check list has been provided that gives a quick overview of the steps in the rest of the manual, which are spelled out in detail.

Warning

Year-end processing will not work if these tasks are not done in order. Task order is critical, or your data may be compromised! In each chapter, you will find a checklist that we think you’ll find useful in making sure you have covered each task, in the appropriate order.

1-2 Year End Basics, Overview

Checklist for Fiscal Year End

Because year-end processing is done only once a year, it is very likely that you will not remember all the tasks and details from year to year.

For those of you that just need a reminder of what to do and where to go, we have created the following checklist.

The checklist is broken into parts. The task sections (e.g., Preparing for Next Fiscal Year) match the names of the chapters of this reference guide. The task names (e.g., Check Your Organization Setup) match the subsections in the chapters. If you need more information, you can go directly to that chapter for detailed instructions.

To help you keep each year straight, we are using the following nomenclature:

Base year – This is the year you are closing. References will be displayed in bold red lettering.

Next year – This is the year you are opening. References will be displayed in italic blue lettering.

Activities are marked with an arrow () with permissions listed at the bottom of the task.

Task Notes

Preparing for Next Fiscal Year Check Your Organization

Setup

Verify the multiyear processing for payments.

Verify Addon Payoff fields (if appropriate).

Verify ledger object codes and the budgetary control objects.

Verify Finance Error Acct.

Use the System-Setup-Organizations activity.

On the General Setup tab, verify month/day for AP payments, direct payments and employee payments.

Verify the addon payoff fields.

On the Ledger tab, verify your object codes for reserves, carry overs, prepays, et al, are correct. Also, check your Finance Error Acct Link ID.

Must be SysMgr or higher.

Create New Fiscal Year for the System

Use the System-Setup-Fiscal Year Status (System) activity.

Copy the base year to the next.


We encourage you to call Customer Care if you have any questions.

The task names (e.g., Check Your Organization Setup) hyperlink to that section of the reference guide.

After hyperlinking to a particular section, press Alt+Left Arrow to jump back to where you were in the checklist.

Year End Basics, Checklist for Fiscal Year End 1-3

Roll Forward Accounts

Roll forward accounts for EVERY organization even if it is a “clearing” organization.

From the list of the System-Setup-Fiscal Year Status activity, copy the base year of each organization to the next year.

From the base year, use the System-Setup-Fiscal Year Status activity to select the Roll Forward Accounts task to create accounts for the next fiscal year.

From the next year, use the System-Setup-Fiscal Year Status activity to review the snapshot of the history records of the roll forward.


Preparing for Next Payroll Year Create Salary Schedules Use the HR/Payroll-Setup-Assignment-

Salary Schedules activity.

Changing. If salary schedules are changing for the next fiscal year, you need to end the base salary schedule and copy it to the next year.

Not Changing. If salary schedules are not changing for next year, quickly review the list to make sure that the base year salary schedules do not have end dates.

Must be HRMgr, OrgMgr, SysSupport or SysMgr.

Create Pay Schedules Use the HR/Payroll-Setup-Payroll-Pay Schedules activity.

Copy pay schedules from the base year to the next year.

Review the pay periods in the next year.

Must be accessed as All-Org as PayMgr, OrgMgr, SysSupport or SysMgr.

Task Notes

1-4 Year End Basics, Checklist for Fiscal Year End

Create Calendars Use the HR/Payroll-Setup-Assignment- Calendars activity.

Copy calendars from the base year to the next year.

Review the calendars in the next year.

Must be HRMgr, OrgMgr, SysSupport or SysMgr.

Create Pay Cycles Use the HR/Payroll-Setup-Payroll-Pay Cycles activity.

Copy pay cycles from the base year to the next year.

Review the pay periods in the next year.

Must be accessed as All-Org as PayMgr, OrgMgr, SysSupport or SysMgr.

Review Other Position Control Records

Job Categories/Class

Deductions/Contribution

Addons

Benefit Providers

Positions

You may or may not need to change these records during year end processing.

Task Notes


Roll Forward Pos Assignments

Double-check assignment roll forward.

Roll forward assignments.

Initiate pay.

From HR/Payroll-Reports-Position, run the Assignment Roll Forward Problem Preview (Pos08) report to review assignments that will not roll forward.

Must be HR User or higher.

From the base year, use the System-Setup-Fiscal Year Status activity to select the Roll Forward Pos Assignments task to roll forward assignments for the next year.

Must be a COEDistSvc or SysMgr.

From the next year, use the System-Setup-Fiscal Year Status activity to review the history records of the roll forward.


Use the HR/Payroll-Processes-Initiate Payroll Requests activity to initiate pay for the next year. (You may want to schedule this for after hours.)

Must be OrgMgr or higher.

Preparing for Fiscal Year End Set Up Multiyear Processing

Verify multiyear processing for requisitions.

Use the Finance-Setup-Department-Departments activity.

Review the Current/Next Year Start/End fields for each document to synchronize to your district’s standards.

Must be Fiscal or higher.

Task Notes


Create Cash Roll Forward Journal Entry

This task is optional.

From the next year, use the System-Setup-Fiscal Year Status activity to select the Create Cash Roll Forward Journal Entry task.

This rolls forward cash independent of other year end processes, providing users with cash before the fiscal year is closed.

Use the Finance-Fiscal-Journal Entries activity to review the journal entry in the next year.

From the next year, use the System-Setup-Fiscal Year Status activity to select the Post Cash Roll Forward Journal Entry task to post the journal entry.


Prepay Requisition Payments Use the Finance-AP-Payments activity.

Enter payments as usual. The software recognizes the fiscal year of the vendor requisition.

OR

Use the Finance-AP-Enter Payments activity.

For next year’s invoices that are received and paid for prior to July 1, select next year as the Fiscal Year and then enter payments as usual.

Both activities have the same result: the software creates the appropriate journal entries when the check is printed.

Must be AP or higher.

Task Notes


Prepay Non-Requisition Payments

Use the Finance-AP-Direct Payments activity.

OR

Use the Finance-AP-Employee Payments activity.

For next year’s invoices that are received and paid for prior to July 1, select the next year as the Fiscal Year and then enter payments as usual.



Release, Carryover, Accrue Documents Make Requisition Payments

for Last Year Use the Finance-AP-Payments activity.

Enter payments as usual. The software recognizes the fiscal year of the vendor requisition.

OR

Use the Finance-AP-Enter Payments activity.

For base year’s invoices that are received and paid for after July 1, select the base year as the Fiscal Year and then enter payments as usual.



Task Notes


Make Non-Requisition Payments for Last Year

Use the Finance-AP-Direct Payments activity.

OR

Use the Finance-AP-Employee Payments activity.

For base year’s invoices that are received and paid for after July 1, select the base year as the Fiscal Year and then enter payments as usual.



Work Orders

Close or cancel all work orders.

Use the Finance-Work Orders-Work Orders activity.

Search for work orders that have not been completed or canceled in the base year.

If the status is Open or Submitted, you must cancel. If the status is Approved, Assigned or Ready to Expense, you must cancel or complete.

Must be Fiscal or higher (or be a member of the department).

Vendor Requisitions

Release, accrue, carry over, or close out vendor requisitions.

Use the Finance-Processes-Year End Closing activity.

Select Vendor Requisitions as the document type and work the list until all requisitions are processed.


Stores Requisitions

Release, carry over, or close out stores requisitions.


Select Stores Requisitions as the document type and work the list until all requisitions are processed.


Task Notes


Department Requisitions

Release, carry over, or close out department requisitions.


Select Department Requisitions as the document type and work the list until all requisitions are processed.


AR Invoices

Accrue, carry over, or close out invoices.


Select AR Invoices as the document type and work the list until all requisitions are processed.


Inventory Assets and Stores Items Perform Asset Inventory

Export the data.

Perform physical inventory.

Import file.

Find missing assets.

Dispose of assets as appropriate.

Print Reports.

Use the Finance-Assets-Asset Physical Inventory activity to perform the inventory.

Use the Finance-Assets-Fixed Assets to edit assets.

Use the Finance-Reports-Assets to run reports.


Perform Stores Inventory

Run the Physical Inventory Worksheet (Stores04).

Perform physical inventory.

Make adjustments.

Run the Stores Valuation Report (Stores05)

Adjust the stores account.

Use the Finance-Stores-Stores Physical Inventory activity to perform the inventory.

Use the Finance-Reports-Stores to run reports.

Use the Finance-Fiscal-Journal Entries activity to adjust stores accounts.


Task Notes


Wrapping Up Fiscal Year End (FISCAL YEAR IS OVER) Clear Outstanding Hourly

Employee Payroll Encumbrances

Only if Hourly Emp Encumbrance flag in the Organization record is set to YES.

From the base year, use the System-Setup-Fiscal Year Status activity to select the Clear Outstanding Hour Emp Enc task to clear the remaining encumbrance balance for the base year.


Roll Leave Balances Forward

This must be done AFTER the June leaves are entered.

From the base year, use the System-Setup-Fiscal Year Status activity to select the Roll Forward Leaves task to create a special leave balance forward transaction dated 07/01 of the next year.


Fix Balance Resources That Don’t Allow Ending Balances

Only if a Resources with Ending Fund Balances section shows on the Fiscal Year End (Fiscal15) report.

Use the Finance-Fiscal-Journal Entries activity.

Create a journal entry in the base year to move the balance to the deferred revenue account or another account, as appropriate.


Clear Outstanding Journal Entries

Use the Finance-Fiscal-Journal Entries activity.

Search for JEs in the base year in the Open, Denied, Submitted and Audit statuses, then post or delete.


Reconcile AP and AR Use the Finance-Reports-Ledger activity.

Run the Receivables/Liabilities Activity (Ledger02) report for the base year, selecting cleared items (NO) and unposted journal entries (YES).


Task Notes


Run the Financial Statement Use the Finance-Reports-Fiscal activity.

Run the Financial Statement (Fiscal13) report for the base year, ending period of June and including zero balances to verify the organization’s finances are in balance.


Print the Fiscal Year End Checklist

From the base year, use the System-Setup-Fiscal Year Status activity to run the Fiscal Year End Checklist snapshot.

If the report is clear (there are no outstanding items), print the checklist to “unlock” the Create Closing Journals task.


Close Cash

You should leave the June close date blank until you are ready to close the fiscal year.

From the base year, use the System-Setup-Fiscal Year Status activity to verify that all close dates have passed.


Create Closing Journal Entries

From the base year, use the System-Setup-Fiscal Year Status activity to select the Create Closing Journal Entry task to create the JEs.

Use the Finance-Fiscal-Journal Entries activity to review the subsequent closing journal entries. Search for the Closing JE Type for the base year.


Close the Fiscal Year From the base year, use the System-Setup-Fiscal Year Status activity to select the Close Fiscal Year task to post the closing journal entries and update the Fiscal Year Closed fields in the Fiscal Year record.


Task Notes


Creating Starting Balances (FISCAL YEAR IS OVER) Unpost and Delete Cash Roll

Forward Journal Entry

Only if you used the post cash roll forward JE task.

From the next year, use the System-Setup-Fiscal Year Status activity to select the Unpost and Delete Cash Roll Forward Journal Entry task to unpost and delete the journal entry.


Create and Post Starting Balance Journal Entries

From the next year, use the System-Setup-Fiscal Year Status activity to select the Create Starting Balance Journal Entries task.

This task creates the starting balance JEs and updates the necessary fields in Fiscal Year Status activity, including writing a history record that shows the JE numbers created for each fund.

Use the Finance-Fiscal-Journal Entries activity to review the journal entries (type = StartBal) in the next year.

From the next year, use the System-Setup-Fiscal Year Status activity to select the Post Starting Balance Journal Entries task to post the starting balance JEs,


Create and Post Starting Balance Budget Revision

This task is optional.

From the next year, use the System-Setup-Fiscal Year Status activity to select the Create and Post Starting Balance Budget Revision task.

This task creates a budget revision journal entry (type = BudRev) by comparing actuals to the revised budget, checking the starting balance account revised budget amount and adjusting the budgeted amount to equal the actuals amount. (If the budget amount equals the actuals, no journal entry is created.)


Task Notes


Journal Entry Types

There are several journal entries for year end closing. The following details each of the types.

Liability

Prefix: AP

JE Type: Accrual

JE Source: DR (Dept Req), SR (Stores Req), VR (Vendor Req)

Account Detail: Provided by request

Trans Type:

• If account type = E, then trans type X.

• If account type = R, then trans type R.

• If account type = A, L, S, or B then trans type [blank].

Offset:

• If this is a SACS system, the sum account detail is by fund, resource, project year.

• If this is a NON-SACS system, the sum account detail is by fund.

Receivable

Prefix: AR

JE Type: AcctRec

Trans Type:

• If account type = E, then trans type X.

• If account type = R, then trans type R.

Offset:



1-14 Year End Basics, Journal Entry Types

YE Closing

Prefix: CL

JE Type: Closing

Trans Type: C

Accounting Period: End period

Offset:



Beginning Balances

Prefix: BB

JE Type: StartBal

Accounting Period: Begin period

Trans Type: S

Offset: None

Year End Basics, Journal Entry Types 1-15

1-16 Year End Basics, Journal Entry Types

CHAPTER 2Preparing for Next Fiscal Year

This chapter describes the procedures for rolling forward accounts and setting up for next fiscal year. These procedures are performed by the district each year.

Preparing for Next Fiscal Year 2-1

Check Your Organization Setup

Tip

This requires a SysMgr role to edit. Other roles (COEDistSvc, Org and SysSupport may read.

1 Go to the System-Setup-Organization activity.

2 On the General Setup tab, you need to verify the Finance Setup category, double-checking the start month/day for AP payments, direct payments and employee payments. (See below.)

3 Check the Addon Payoff fields in the HR/Payroll Setup section on the right side if your organization pays employees for unused vacation.

If you do not change your multiyear processing dates from year to year, you can skip this part, and go directly to the Ledger tab.

2-2 Preparing for Next Fiscal Year, Check Your Organization Setup

4 Go to the Ledger tab to verify the Finance Error Acct and your object codes.

This step should be very quick. You just need to make sure that the object codes for reserves, carryovers, pre-pays, et al, are correct.

Preparing for Next Fiscal Year, Check Your Organization Set-

Create New Fiscal Year for the System

Tip

This requires a COEDistSvc or SysMgr role as an all-org user.

The Fiscal Year Status (System) activity defines the cash and close dates for the COE (or entire system). Dates entered into this activity cannot be overridden by the org-level activity. Although organizations can choose to enter cash and close dates that are earlier than the COEs.

The System table and Organization record define at what level cash transfers can be made after the cash close date. You will want to verify the JE Check Cash Closed Option field in the Organization record as part of creating your new fiscal year.

This activity controls when each accounting period stops allowing changes to cash (no journal entries – manual or system – can post to cash). It also controls when the period is completely closed (no transactions can be posted).

1 Go to the System-Setup-Fiscal Year Status (System) activity.

2 Highlight the base fiscal year.

3 Click Copy.

For year end processing, you will want to leave the June close date blank until you are ready to close the fiscal year.

The software will also create a calendar year table (for calendar year totals) for the next year.

2-4 Preparing for Next Fiscal Year, Create New Fiscal Year for the System

4 Modify the close dates if necessary.

5 Click Save/Close.

Preparing for Next Fiscal Year, Create New Fiscal Year for the

Roll Forward Accounts

Tip

This requires a COEDistSvc or SysMgr role. The user can be accessing the activity as an all-org user or an org-based user.

Warning

You must roll forward accounts for EVERY organization even if it is a “clearing” organization. You also need to ensure that you have liability accounts in both the base and next fiscal years that cover Fund-Resource-Object-ProjectYear for payroll and finance, even in the “clearing” organization, or you will receive payroll errors.

Since the software keeps separate records for each fiscal year’s chart of accounts, you will need to create account records for the coming fiscal year. In order to keep account history, you will also want to LINK the next year accounts to the base year accounts. Linking accounts allows users to compare base year accounts to budget amounts and total expenditures for the same account in previous fiscal years. Linking accounts is what enables your system to track account history.

So, every year you will have to copy the accounts for the base fiscal year to the next fiscal year. The most common scenario is that you copy all accounts from the base fiscal year to the next fiscal year — linking them together, but not changing any part of the account number.

The Fiscal Year Status activity is where you perform the roll forward process and define close dates that are earlier than the COE.

1 Go to the System-Setup-Fiscal Year Status activity.

2 Select the base fiscal year.

3 Select Roll Forward Accounts from the Task menu. The software will roll forward the accounts and create a history record stating how many accounts rolled forward and how many did not. If an account did not roll forward, an additional history record is written stating the reason why it did not roll forward.

4 Check the history records in the next fiscal year to review the account roll forward activity, including which accounts did not roll forward and why.

2-6 Preparing for Next Fiscal Year, Roll Forward Accounts

Rolling forward accounts creates accounts in the next fiscal year and links those accounts to previous years. It also creates a history record that details why an account was not rolled forward from the base year (e.g., expired, already exists, duplicate).

Working with Two Sets of Accounts

Rolling forward accounts to the next fiscal year can be a tricky process. For a while, you will be working with two sets of accounts, one for each fiscal year. In the end, the desired result is to have the next fiscal year contain only those accounts that are needed and to have those accounts linked to any previous accounts that may contain historical data.

Reviewing History Records

Reviewing the history record is an important part of the roll forward process. It is in the history records that you can see why an account did not roll forward, get a summary of how many accounts did roll forward and other information.

Because rolling forward accounts can generate numerous history messages, especially when there components are ended. For this reason, we list account roll forward history messages in a snapshot available from the History tab of the Fiscal Year Status record.

In a nutshell, you should review the History snapshot in the next fiscal year to ensure that all accounts rolled forward as anticipated.

Creating New Accounts

You can roll accounts forward multiple times. The first time ALL accounts that are not expired will be rolled forward. After that, the software will only create accounts in the next fiscal year that do not already exist.

You can also create accounts in the next fiscal year manually. To create an account in the next fiscal year and link it to the base fiscal year, the user should copy the next year account, change the fiscal year to the base fiscal year. This will create all of the appropriate links and benefit accounts, if appropriate (as defined on the Ledger tab of the Organization record).

Preparing for Next Fiscal Year, Roll Forward Accounts 2-7

Expiring Accounts

There are two ways that you can expire accounts. You can change the expiration date of an individual account or you can use the Set Expiration Date task from the list to expire a list of accounts.

The Set Expiration Date (or conversely, the Clear Expiration Date) task is run from the list of accounts. The task will set (or clear) the expiration date for every account on the list. You will want to be very careful with the creation of your list. You must create your list as an org-user. When the task is complete, a dialog box will list all of the accounts affected and if there were any problems.

Regardless of the method you use to set/clear expiration dates, the expiration date is copied to subsequent years (all linked accounts). However, if an account has been expired for more than three full fiscal years prior to the “from/source” fiscal year and there has been no activity for any of the fiscal years, the account will not be copied to the next fiscal year.

Let’s take a closer look at this logic.

Because accounts are based on fiscal years, the software requires expired accounts to be inactive for three FULL fiscal years before it stops copying the account to the next fiscal year. In other words, if you enter 10/30/2012 as the expiration date, the software marks the first day of the next fiscal year (7/1/2013) as the “activity stop date” and starts counting fiscal years from there. So if there is no activity in FY 2013/2014, the FIRST anniversary for the stop date is 7/01/2014.

Let’s look at this graphically.

FY 2011/2012 is year 1. FY 2012/2013 is year 2. FY 2013/2014 is year 3.

This means that the account will not roll forward to 2014/2015.

If you clear an expiration date for a previous year, new accounts for the base year and the next year will be created as appropriate. If you set an expiration date for a base year that would result in a next year account not being needed (past the expiration date), the software will delete those accounts.

A history record will be written to each account affected, including linked accounts. If there are problems (like an expiration date cannot be cleared because the components are not available in the base year or the next year), you will receive a message and a history record will be written to the original account (the one on the list). Another common issue is not being able to expire accounts because there is activity for that fiscal year.

The Set Expiration Date and the Clear Expiration Date tasks are available only to Fiscal users and higher.

If you do not have access to these tasks, please contact your system manager.

2010/2011 2011/2012 2012/2013 2013/2014

1 2 3


Changing Components

You cannot change a fund component that has been used in a journal entry. This is true if your account structure is SACS or non-SACS.

You cannot change a resource or project year component that has been used in a journal entry. This only applies to SACS account structures.

If you make changes to local components, you need to alert HR. The software requires HR Technicians to re-initiate pay to “pick up” the changes.

If you are changing a component record, but keeping the same value (for example, you are changing the description but not the value), you must “link” the old and new components by entering the Next Year Value and Prior Year Value fields in the component record. For example, if you changed the description of Project Year 9, entering 2013 as the Fiscal Year Thru date and then created a new Project Year 9 component in 2014, you would need to place a “9” in the Next/Prior Year Value fields for the respective fiscal years to connect them. If you do not enter the Next/Prior Year Values, the software will not recognize the link and give you an error message during year-end processing.

Rolling One Component to Another Component

If you are changing one component to a new component, the “new” account will have the same account alias (or link ID).

If you are changing one component to an existing component, the software checks to see if the new account exists for the new year. If it does not, the “new” account will have the same account alias (or link ID). If the account already exists in the new year, the account will not roll forward. In other words, it will have the account alias (or link ID) of the already existing account.

Rolling Multiple Components into a Single New Component

When rolling forward multiple components, the software creates accounts in numerical order. The first account created picks up the account link ID from the original account. (The account link ID provides a historical reference for reporting across fiscal years.) For example, if you merge functions 1111, 1112 and 1113 into 1110, this would be the result:

Original Accounts

001-4301-6500-0-5750-1111-000-110-0692-1 - Link ID 123456

001-4301-6500-0-5750-1112-000-110-0692-1 - Link ID 123789

001-4301-6500-0-5750-1113-000-110-0692-1 - Link ID 123123

Rolled Forward Account

001-4301-6500-0-5750-1110-000-110-0692-1 - Link ID 123456

Preparing for Next Fiscal Year, Roll Forward Accounts 2-9

Link ID 123456 is assigned to the new account because the software rolls forward that account first, based on numerical order. Link IDs 123789 and 123123 do not roll forward because the “new” 1110 account already exists.

Rolling Multiple Components to an Existing Component

Since the component you are rolling into already exists, the account link ID will be from the existing account. For example, if you merge functions 1111, 1112 and 1113 into 1110 AND 1110 already has an account in the current year, this would be the result:

Original Accounts

001-4301-6500-0-5750-1110-000-110-0692-1 - Link ID 123000

001-4301-6500-0-5750-1111-000-110-0692-1 - Link ID 123456

001-4301-6500-0-5750-1112-000-110-0692-1 - Link ID 123789

001-4301-6500-0-5750-1113-000-110-0692-1 - Link ID 123123

Rolled Forward Account

001-4301-6500-0-5750-1110-000-110-0692-1 - Link ID 123000

Link ID 123000 rolls forward as expected. Link IDs 123456, 123789 and 123123 do not roll forward because the existing 1110 account already exists.


CHAPTER 3Preparing for Next Payroll Year

This chapter describes the procedures for payroll, including setting up for next year and rolling forward assignments. These procedures are performed by the district each year.

Preparing for Next Payroll Year 3-1

Create Salary Schedules

Tip

This requires a HRMgr, OrgMgr, SysSupport or SysMgr role. The user can be accessing the activity as an all-org user or an org-based user.

If Salary Schedules ARE Changing Next Year

If salary schedules are changing for the next fiscal year, you need to end the base salary schedule and copy it to the next year.

1 Go to the HR/Payroll-Setup-Assignment-Salary Schedules activity.

2 Enter the base Fiscal Year.

3 Click Go.

4 Open the first salary schedule that should be ended.

5 Enter the End Date.

3-2 Preparing for Next Payroll Year, Create Salary Schedules

6 Press F8 to go to the next record on the list and repeat for every salary schedule that should be ended.

7 Sort your list by end date. (Click twice on the column heading to bring all of the salary schedules with end dates to the top of your list.)

8 Copy the ended salary schedule. This will create a new salary schedule with a begin date the day after the end date of the original salary schedule. The end date will be left blank.

9 Manually change the cells or use Mass Change Cell Amounts task to update the salaries.

10 Verify the calculated amounts to your district's actual schedules. There may be differences due to rounding.

11 Click Save/Close.

12 Repeat steps 9-11 for each salary schedule that is being updated.

If Salary Schedules are NOT Changing Next Year

If salary schedules are not changing for next year, quickly review the list to make sure that they do not have end dates.

Preparing for Next Payroll Year, Create Salary Schedules 3-

Create Pay Schedules

Tip

This requires a PayMgr, OrgMgr, SysSupport or SysMgr role as an all-org user.

The software uses “master” pay schedules to define pay periods. They can be set up to default or lock in pay periods for the pay cycles. Pay cycles are required to specify a pay schedule.

1 Go to the HR/Payroll-Setup-Payroll-Pay Schedule activity.


3 Click Go.

4 Highlight a pay schedule.

5 Click Copy.

6 Modify the periods.

7 Click Save/Close.

8 Repeat steps 4-7 for each pay schedule.

3-4 Preparing for Next Payroll Year, Create Pay Schedules

Create Calendars

Tip

This requires a HRMgr, OrgMgr, SysSupport or SysMgr role. The user can be accessing the activity as an all-org user or an org-based user.

Of course, new calendars need to be created for each fiscal year. The easiest way to do this is to use a naming standard that does not include fiscal year. This way you can enter the name of the calendar in all job category and class records only once, copying from one year to the next.

1 Go to the HR/Payroll-Setup-Assignment-Calendars activity.

2 Enter the base Fiscal Year (defaults to the current fiscal year).

3 Click Go.

4 Highlight a calendar.

5 Click Copy.

Preparing for Next Payroll Year, Create Calendars 3-5

6 Check the necessary fields. There are some fields that you must review: the Contract Begin/End dates and the dates to see if holidays, paid and unpaid dates need to be modified.

7 Click Save/Close.

8 Repeat steps 4-7 for each calendar.

Tip

Calendars can be edited until they have been used on a payroll. Once used on a payroll, you will receive a warning if you attempt to change any fields that would affect pay. If you edit a calendar before it has been used on a payroll and there are assignments using that calendar, you will need to initiate pay to update the assignment days.

3-6 Preparing for Next Payroll Year, Create Calendars

Create Pay Cycles

Tip

This requires a PayMgr, OrgMgr, SysSupport or SysMgr role as an all-org user.

Employee pay cycle records point to these system pay cycle records. Employees are assigned to a primary pay cycle.

1 Go to the HR/Payroll-Setup-Payroll-Pay Cycles activity.


3 Click Go.

4 Highlight a pay cycle.

5 Click Copy.

6 Modify the dates if necessary.

7 Click Save/Close.

8 Repeat steps 4-7 for each pay cycle.

The ETC, ETS and ETR pay cycles are created automatically from the Create Manual Pay activity. They should not be created or copied in the Pay Cycles activity.

Preparing for Next Payroll Year, Create Pay Cycles 3-7

Tip

If you want to change the Retirement Period flag for a variable pay cycle from Pay Date to Period Ending, you will need to split out your PERS and STRS employee pay cycles because this flag applies to both and could adversely affect your ability to create your PERS retirement reports on time. Please contact Customer Care before changing this flag.

When you copy the pay cycle record from year to year, the STRS Rpt Prd Type flag will reset to Regular unless all pay cycle periods are set to the same report timing (e.g., all pay periods are set to Supplemental 1).

3-8 Preparing for Next Payroll Year, Create Pay Cycles

Review Other Position Control Records

There are other setup records that you may want to review at year end. Here are several that you may want to visit:

Job Categories/Class – If you changed the salary schedule, you may want to visit this record because it contains the from/thru for the salary schedule cells that apply to the job class.

Deductions/Contribution – If you have dues or benefit amount changes, you will need to update these records. Remember, you will need to enter an end date and copy the record to make changes.

Addons – If you have changes to seniority or how leaves are granted through addons, you may need to visit those records. Remember, you will need to enter an end date and copy the record to make changes.

Benefit Providers – If there are benefit level changes, you can make these in advance. The Leftover Pay Cap Addon is also specified in the Benefit Provider record. The Benefit Group code is also crucial to the order in which benefits are processed.

Positions – Now is the time to change these records, ending obsolete positions and creating new ones. It is also the time to update the position accounts if there are going to be any changes there! It is best to do this BEFORE you roll forward. Of course, you can make changes later, but you can save yourself time by making changes in advance.

Preparing for Next Payroll Year, Review Other Position Con-

Roll Forward Pos Assignments

Tip

This requires a COEDistSvc or SysMgr role. The user can be accessing the activity as an all-org user or an org-based user.

Each year you must roll forward assignments from one fiscal year to the next.

In addition, if there is to be step or column movement, this procedure will take care of that as well.

1 Run the Assignment Roll Forward Problem Preview (Pos08) report to review assignments that will not roll forward. (This can be run from HR/Payroll-Reports-Position.)



4 Select Roll Forward Pos Assignments from the Task menu.

After you roll forward, you must Initiate Pay (HR/Payroll-Processes-Initiate Pay) for the next fiscal year.

This process can take some time on large systems. You may want to schedule this for after-hours processing.

3-10 Preparing for Next Payroll Year, Roll Forward Pos Assignments

5 Run the Assignment Roll Forward Review (Pos07) report to review the assignments for next year. (This can be run from HR/Payroll-Reports-Position.) Or, go to the next fiscal year and look at the history record.

This procedure (which may be run multiple times) actually creates an assignment in the next year, copying the information (Org ID, Position ID, Employee ID, Primary Position flag, FTE PTW flag, FTE Used, Assignment Type, Calendar, Salary Schedule, Comment, Anniversary, Approval, Date Probation Ends, Language, Assignment Codes, Contribution IDs, Deduction IDs, Leave Base Override, Longevity, Leave Group Override, and Retire Info) from the assignment in the base year using the following logic:

If the position has an end date of 6/30 or earlier in the base year, do not create a future assignment.

If the position has an end date during the next fiscal year, create a future assignment with an end date equal to the position’s end date.

If the assignment has an end date prior to the end of the base year 6/30, do not create an assignment in the next year.

If the employee already has a “primary” position assignment in the next fiscal year, other base year assignments will not be set to primary during the roll forward process.

If an assignment has equalized pay (Pay Distribution Flag is set to Yes) when the assignment is rolled forward, the next year assignment will have the flag set to blank (normal, first month difference).

If the employee has a termination date prior to base year 6/30, do not create an assignment in the next year.

If the employee has a termination date during the next fiscal year, create an assignment in the next year with end date equal to the termination date.

Do not copy cancelled assignments.

Do not copy supplemental days within assignments to the assignment in the next year.

For assignments using edit calendar days, set the days to the contract days in the calendar.

For assignments with extended columns (custom fields created for your organization by Customer Care), copy those fields to the assignment for next year.

The assignment roll forward can be run as many times as necessary, updating assignments with new payroll and employee information. However, the software will not delete or modify any manually assignments created in the next year. If you create an assignment in the next year (manually added or edited), the software will not alter the next year, regardless of how many times you roll forward assignments. This includes assignments with mid-year manual changes. For example, if you edit a mid-year assignment in the next

Preparing for Next Payroll Year, Roll Forward Pos Assign-

year (e.g., an anniversary changes the assignment) and then roll forward, neither of the assignments for the position/employee combination will be altered.

Perform step/column movement using the following matrix. The first four columns list the setup record fields that control increments in salary placement. The last two columns reflect the results.

The software looks in the employee’s base year assignment for an anniversary date. If an anniversary date is not in the assignment record, the software uses the anniversary date in the employee record.

If an anniversary date in the Employee record or the Assignment is set to a date in the next year, the software will prevent step/column movement until that date passes.

Commonly Asked Questions

What happens if there are changes to setup records (like salary schedules) after I have rolled forward?

You can use the Roll Forward Pos Assignment task again to “re-roll” all assignments except any that have manual changes.

What happens when assignments have end dates prior to fiscal year end?

If the assignment has an end date:

If the end date is before the end of the base year (less than 6/30), then an assignment in the next year will not be created.

If the end date is at the end of the base year (6/30), then an assignment in the next year will be created.

Assignment Setup What Happens?

Bargaining Unit Anniversary

Option

Salary Schedule Row/Column Movement

Salary Schedule Row/Column

Movement Max

Employee's Assignment

Anniversary DateIncrement

on 7/1?

Increment on Anniversary

Date?

No No No No No No

No No No Yes No No

Yes Yes No No Yes No

Yes Yes Yes No No No

Yes Yes No Yes No Yes

Yes Yes Yes Yes No No

No Yes No No Yes No


What happens when the Employee has a Termination Date?

If the person record has a Termination date:

If the termination date is before the end of the base year (less than 6/30), then an assignment in the next year will not be created.

If the termination date is during the next fiscal year, then an assignment in the next year will be created but will have an end date equal to the termination date of the employee.

For example, an employee is retiring as of 8/15, so has a Termination Date of 8/15, an assignment in the next year is created with an End Date of 8/15/ in next year.

What happens when the Position has an End Date?

If the position has an end date:

If the position end date is before the end of the base year (less than 6/30), then an assignment in the next year will not be created.

If the position end date is during the next fiscal year, then an assignment in the next year will be created but will have an end date equal to the position’s end date.

In general, the assignment roll-forward procedure sets the next-year-assignment's end date to the minimum of the:

End of the next fiscal year

Employee's termination date

Position's end date

Will supplemental or difference days be rolled forward?

No, supplemental days are considered as one-time adjustments and are not rolled forward from year to year.

Difference days are associated with calendars that can be edited. When creating or rolling forward an assignment, the days will be set to the contract days from the calendar (this means that you cannot roll forward the “edited” days).

How does the step/column and anniversary movement work?

The step/column movement is controlled by fields in the Salary Schedule set up and Bargaining Unit record. Different combinations of these fields yield different results as shown in the table above.

As for how the software determines the anniversary date, it uses cascading logic. If an anniversary date is specified for an employee, this date is used for all of that employee's assignments. However, if an employee has an assignment with an anniversary date specified in the Assignment record, then the software uses that date for that assignment.


Also, if the anniversary date is for the next fiscal year, the software does not move the employee on the step/column. For example, some districts do not allow movement on the salary schedule for the first fiscal year of employment. The employee has to wait until the following year.

What if we have extended records?

The software supports extended records. If you have implemented these for employee records, those records will be rolled forward along with the positions, and have the Adjusted Days column set to zero.

Why doesn’t the Position record show the new assignment information?

The Position tab in the Position record contains the basic information about the position. The information it shows is from the pay detail that is active as of TODAY, which means it does not show information about next year position assignments.

Troubleshooting

No assignments loaded from HR. After you roll forward, you must Initiate Pay (HR/Payroll-Processes-Initiate Payroll Requests) in the next year.

This process can take some time on large systems. You may want to schedule this for after-hours processing.

No assignments were created. In general, assignments will roll forward if the assignment ends on the last day of the base fiscal year (06/30). However, there are other factors that might change this. No assignments will be created under the following circumstances:

The position has been ended.

The person for whom the record is to be created has a termination date.

The assignment has an ending date earlier than the end of the base fiscal year.

Next year assignment already exists.

Assignment is not updated. If you manually added or edited a next year assignment, the software will not update that assignment during the roll forward process. In addition, any assignments that have been edited after the roll forward will not roll back. These need to be manually updated by going into each assignment, opening it, and saving the changes. (The software will already know that number of days changed and will have the days bolded in the assignment. You can easily find these assignments by using the Pos07 report.)

Calendar is not updated. The calendar is copied from the base year assignment, not the position. The only time the position calendar is used is when you are adding a new assignment, or for vacancy budgeting.


Roll Forward Assignments task is not highlighted. Pay has to be open and ready for the roll forward. This means that pay must have been initiated for the next year and assignments cannot have been paid.

What Should I Do Next?

Check all assignments with a manual calendar. The Days will be set from the calendar, you need to verify the days are correct or edit them. Remember, in order to change the days in the new assignment, you will need to change the Begin Date, then change the Days, then set the Begin Date back to 7/1.



CHAPTER 4Preparing for Fiscal Year End

This chapter describes the various year-end procedures, including clearing liabilities and processing requisitions.

Preparing for Fiscal Year End 4-1

Set Up Multiyear Processing

Tip

This requires a Fiscal role to edit. However, the department manager of the department may read the record.

Toward the end of a fiscal year, users need to work in both the base and next fiscal year. There is a way for our customers to do this. It is called multi-year processing. This process allows you to work on next year’s requisitions before the base year ends.

The document setup in the Department record defines the “beginning” and “ending” of multiyear processing using the following fields:

1 Go to the Finance-Setup-Department-Departments activity.

2 Set the next/current year end month/day fields.

If you do not change your multiyear processing dates from year to year, you can skip this step.

4-2 Preparing for Fiscal Year End, Set Up Multiyear Processing

Current Year End Month/Day – These two fields define when users will be prevented from entering documents for the current fiscal year. Most organizations like to “cut off” the ability to enter requisitions for the current year sometime in early June. That way they can finish their year-end processing and inventory without additional requisitions being submitted.

Next Year Start Month – This field works in conjunction with the Next Year Start Day field. These two fields define when users can start entering documents for the upcoming fiscal year. Most organizations set this to some date in May. That means that every year beginning in May, users will be able to start entering requisitions (for example) for the following fiscal year.

If you have these fields set to May 15 and June 1 respectively, then when a user tries to create a new requisition (or any other document type) during that time, they will be prompted for the fiscal year. When they save the document, the appropriate requisition numbering (fiscal year and sequence) will automatically be assigned.

Preparing for Fiscal Year End, Set Up Multiyear Processing

Create Cash Roll Forward Journal Entry

Tip

You must be a System Manager or COEDISTSRV user to run this task from the Fiscal Year Status or Fiscal Year Status (System) activities in the System module.

The Create Cash Roll Forward Journal Entry task allows you to roll forward cash independent of other year end processes, providing users with cash in the next fiscal year before the base fiscal year is closed.

There are several rules for this task:

All accounts must exist in the next fiscal year.

• The account cannot be missing.

• The account cannot be expired.

• The resource (or any other component) within the account cannot be expired.

Resource components must exist in the next fiscal year. (The resource must not be ended or, if it is ended, it must have a valid next year value.)

The Fiscal Year Status activity is where you perform the task and define close dates that are earlier than the COE.

1 Go to the System-Setup-Fiscal Year Status or the System-Setup-Fiscal Year Status (System) activity.

2 Select the next fiscal year.

3 Select Create Cash Roll Forward Journal Entry from the Task menu. The software will create the journal entry and a history record.

This will create the JEs as stated below, update the Cash Bal Roll Forward Date field in Fiscal Year Status activity and write a history.

4 Review the journal entries from the Finance-Fiscal-Journal Entries activity.

5 Go to the System-Setup-Fiscal Year Status or the System-Setup-Fiscal Year Status (System) activity.

6 Select the next fiscal year.

7 Select Post Cash Roll Forward Journal Entry to post the journal entry.

4-4 Preparing for Fiscal Year End, Create Cash Roll Forward Journal Entry

If the task is run from the System-Setup-Fiscal Year Status (System) or the System-Setup-Fiscal Year Status activity, a journal entry is created, as described below.

If the task is run from the or the System-Setup-Fiscal Year Status (System) activity, a journal entry, as described below, will be written for each organization that is active for the finance module as defined in the Organization record. If there are any issues with the creation, posting or unposting, a history message will be written to the activity. For example, if organization ABC has already posted the journal entry, when the Post Cash Roll Forward JE is selected from the Fiscal Year Status (System) activity, the software writes a history message, “ABC - Can not post cash roll forward journal entry, it has already been posted.”

The journal entry contains a line item for each resource / cash object combination. The journal entry is created using the following rules:

The date of the journal entry is 7/1/xx of the next fiscal year.

The status of the JE is Open.

The Cash Object and the Offset to Cash Balance Forward object are defined in the Ledger tab of the Organization record.

The journal entry uses the fund, resource and project year values from the base fiscal year accounts for determining the appropriate offset accounts in the next year.

If the account doesn't exist or is expired in the new fiscal year, then the component’s next year values are used to find the new year account.

If the fund, resource or project year in the next year (linked) accounts are different than the base year, the software use the fund, resource and project year values from the next year accounts for determining the offset accounts.

If accounts that are needed for the JE do not exist or are expired in the new fiscal year, a history message is created for the fiscal year as well as the journal entry.

• The journal entry will be put on hold and the status comment set to “On Hold. See history.”

• The history message in the Fiscal Year Status will be prefixed with “JE# xxxxx-StartBal was not posted:” with the “problem” accounts listed one-by-one.

Tip

If a resource doesn’t (and shouldn’t) exist in the NEW fiscal year, create a journal entry in the PREVIOUS fiscal year to move the cash balance to the appropriate resource in the new fiscal year. If you make any changes in resources from one year

Preparing for Fiscal Year End, Create Cash Roll Forward Jour-

to the next – so that a resource that was valid in the closing year won’t exist in the next year – you may want to contact Customer Care to help you identify cash accounts with a balance that do not exist in the next year.

4-6 Preparing for Fiscal Year End, Create Cash Roll Forward Journal Entry

Prepay Requisition Payments

Tip

This requires an AP role (or above) to edit.

If an invoice for a next year requisition is received and must be paid prior to July 1, you may do so. This often happens for conferences. The important thing to note is that the requisition must be created in the next year. The software will create the appropriate journal entries in both fiscal years for you!

AP Payments Activity

1 Go to the Finance-AP-Payments activity.

2 Process the payment as usual.

Enter Payments Activity

1 Go to the Finance-AP-Enter Payments activity.

2 Enter the next year in the Fiscal Year field. (Note, you cannot mix fiscal years on the data entry tab of the Enter Payments activity.)


Both activities have the same result. When the check is printed, several journals are created. See the screen capture below for reference.

For the base year, the JE (EX09-00360) debits the account specified as the prepay account and credits the cash account.

For the next fiscal year, the JE (EX10-00001) credits the prepaid account and debits the expenditure account specified in the requisition. The prepaid account will be debited by the beginning balance journal created during the year-end roll-forward procedure.

Preparing for Fiscal Year End, Prepay Requisition Payments

A third JE (EN10-00002) reverses the original JE (EN10-00001) encumbrance.

Tip

The Process Checks activity checks at the close date. If payments were entered before this date but not processed until this date or after, the Generate Checks task notifies the user that checks cannot be processed after the Cash Closed date.

The Print Checks activity checks the close date. If payments were entered and processed before the closed date but not printed until on or after the closed date, the user is notified.

In addition to this date, the Print Checks activity checks the other cash closed periods. If today's date is after any of the cash closed periods and before the 1st of the following month, the user is notified.

Final Payment versus Partial Payments

If you make a partial payment, the requisition will still show up on your year end requisition list for close out or carry over.

If you make a final payment, the requisition will be completed and will not show up on your year end requisition list.

If you pay the entire amount, but forget to set the Final Payment flag, the requisition will not be completed. You need go to the requisition and use the Manual Complete task.

What Do I Do Next?

Once accounts payable has made all of the payments, they should notify the business office. Then, the business office can use the Year End Closing list to carry over or close out the remaining requisitions.

4-8 Preparing for Fiscal Year End, Prepay Requisition Payments

Prepay Non-Requisition Payments

Multiyear processing for payments is set up in the month/day fields of Organization record (AP, Direct, Employee Payment Next Yr Start/End months). Once the date defined in the Organization record has arrived, you can enter payments for the next fiscal year as long as accounts have been rolled forward. Conversely, you cannot post to the base fiscal year if that year or month has been closed.

1 Go to the Finance-AP-Direct Payments OR the Finance-AP-Employee Payments activity.

2 Enter the appropriate fiscal year.


Preparing for Fiscal Year End, Prepay Non-Requisition Pay-

4-10 Preparing for Fiscal Year End, Prepay Non-Requisition Payments

CHAPTER 5Release, Carryover, Accrue Documents


Release, Carryover, Accrue Documents 5-1

Year End Closing Activity

Tip

This requires a Fiscal, SysSupport or SysMgr role.

As the fiscal year winds down, you need to review requisitions that do not have a status of Complete, Cancelled or Denied. It is extremely important that you do so before closing the books since all requisitions must be either carried forward or closed out.

Any user who will be involved in this process must have access to the Year End Closing activity. The search page has several options:

Fiscal Year – Automatically set to the base fiscal year (the one being closed).

Department – Select a department if you want to limit your list.

Order Location – Use the lookup to select one or more locations to limit your list to only documents associated with those locations.

Document Type – Select a document type if you want to limit your list.

5-2 Release, Carryover, Accrue Documents, Year End Closing Activity

Reference Number – Enter a requisition or purchase order number (or partial). This will give you a list of all requisitions/purchase orders with that number. If you supplied a partial number (e.g., VR17), you will get a list of all requisitions/purchase orders that start with that sequence.

Vendor Name – Only applies to vendor requisitions. Enter a vendor name (not sort name). You may enter the entire name, partial, multiple values, or a range).

• Partial – Enter a partial value to get a list of vendors with names that start with that value. For example, enter “office” to get a list of vendor requisitions associated with a vendor whose name begins with the letters “office.”

• Multiple Values – Enter several values separated by a comma. For example, enter “a,d,s” to get a list of vendor requisitions with a vendor whose name begins with any of those letters. You can also mix and match this with ranges and partial entries.

• Range – Enter a range of vendor names. For example, enter “d..m” to get a list of vendor requisitions associated with a vendor whose name starts with the letter D through the letter M.

Process Default – Defaults to No, which means that if you want to process a document on the list, you will need to take some action before the software will process it. However, you can change this flag to YES so that every document on your list defaults to be processed. In general, AR Invoices default to Accrue and requisitions of all types default to carry over.

Components – Enter components to give you a list of all documents that have an account line that matches your entry. Each component can be entered separately, in any order or combination. See the Searching for Accounts section of the Jump Start chapter for more information about entering components.

Tip

We recommend that you work on each document type separately.

Understanding the Process

No matter what type of requisition you are processing, there are a couple of rules of the road that you should understand.

You cannot accrue or carryover requisitions in the Open status. However, you can release all funds to cancel a requisition quickly. If a requisition in the Open status does not have any funds to accrue, carryover, or release, you must either close the requisition from the Vendor Requisition (using the quick link from the Year End list or going directly to the activity) or allow it to carry over with zero dollar amounts (some districts like to do this with blanket requisitions).

The software defaults 7/1 as the first day you can process an accrual or carryover. If you need to change this date, please contact Customer Care.

Release, Carryover, Accrue Documents, Year End Closing Ac-

Documents with errors will not post. You must resolve the error first.

If the carryover, accrual and release fields are all set to zero, the requisition will carry over to the next fiscal year with zero amount. If you do not want the requisition to carryover, you must open the requisition and manually complete it.

When you post a carryover amount (including zero amounts), the software will change the fiscal year of the requisition, add accounts for the next year, reverse outstanding encumbrances in the base year, encumber amounts in the next year, and write the appropriate history records.

When you post an accrual amount, the software will create a journal entry in the base fiscal year to set up liability, add liability accounts in next year, and write a history record.

The release column is calculated by subtracting the accrual and carryover amounts from the outstanding amount, and will be flagged as an error if the result is negative.

Tip

Use the snapshot to get a Requisition Snapshot with Payments for the requisition highlighted on your list.

Use the Year End Processing Report (from the Task menu) to help you get a big picture of all the items on your list. It lists the account information for each requisition and/or invoice.

The Year End Closing list will carry forward requisitions with $0 outstanding.

If you do not want requisitions with $0 outstanding to carry forward, use the quick link to open the Finance-Requisitions activity and manually complete those requisitions.


What If Accounts Don’t Exist in the New Year?

Tip

If you have a document on the year end list that does not have accounts for the new year, we strongly suggest that you create (or unexpire) the accounts in the new year before processing. If you have already carried over the document, you have two options:

1. Go to the requisition and use the Rollback Year End Processing task, create (or unexpire) the accounts in the new year and reprocess the document on the year end list.

2. Go to the requisition and enter the correct expense account in the requisition and delete the error account.

Since it is not best practices to carry over documents with expired or missing accounts, most document types require you to fix the account BEFORE you can process on the Year End list.

Here is a quick list of the document types and how each handles expired/missing accounts in the context of processing the document on the Year End list:

AR Invoice – Will not process with expired accounts.

Department Req – Will not process with expired accounts.

Stores Req – May carry over with expired accounts. See below.

Vendor Req – May carry over with expired accounts. See below.

Regardless of the document type, the software presents the error, “The following account(s) are expired, don't exist, or contain expired components for fiscal year YYYY.”

Vendor requisitions and stores requisitions can be carried over (not accrued), even if the accounts do not exist or are expired in the next year. If the accounts are expired or do not exist, the software uses the following logic.

Component within the account is expired or doesn’t exist: If one of the components in the expense account is expired, the software gives you an error message. You must fix the setup of the account components for that account. There is no other option

If the expense account is expired prior to the start of the next year or doesn’t exist in the next year, the software uses the Finance Error Acct defined on the Ledger tab of the Organization record.

• If the error account is valid, the software processes the requisition and gives the user the following error message, “Processed - One or more accounts are missing in new fiscal year.”


• If the error account is expired or does not exist in the next year, the software generates an error and stops the processing of the requisition for year end.

If a requisition is carried over using the error account, a history record is written to the requisition listing the expense accounts that could not be used in the next fiscal year. Please see the tip at the beginning of this section for more information about fixing requisitions carried over with an error account.

What If There Is Unpaid Sales Tax?

To have sales tax properly charged, you set up the object codes on the Ledger tab of the Organization record. There are three fields:

State Sales Tax - Object code to use when the vendor forgot to charge state sales tax for an item.

County Sales Tax - Object code to use when the vendor forgot to charge county sales tax for an item.

Local Sales Tax - Object code to use when the vendor forgot to charge local sales tax for an item.

The software then uses these object codes to determine the account: the fund from the expense account, the object code listed here and resource 0000. The software charges the full amount to the expense account from the req/payment. The check is cut (9110 - Cash) for the INVOICED amount which does not include the Sales Tax. The software credits the sales tax account (based on the codes entered above) with the sales tax amount. At the end of the year, AP cuts a check to the State Board of Equalization for all the sales tax collected out of the funds - object (as defined above)- Resource 0000.

What If the Account Distribution is Tied to Line Items?

To distribute the accrued/carryover amounts to the liability accounts, the software must change the account distribution option of the requisition from tied to line items to manual.

After changing the account distribution option, the software adds the liability accounts to the requisition and distributes the amounts. the software also writes a history record detailing the amount accrued/carried over and documenting that the account distribution method was changed to manual.

If you need to roll back the year end processing, the software will rollback the year end processing as usual, but leave the account distribution option set to manual. It would be up to you to change the account distribution option and re-evaluate the accounts.


Error Messages

Already in Fiscal Year

Sometimes there are two people working the year end list and they both try to post a requisition. If you receive the error, “Can not process requisition, it is already in fiscal year xxxx,” this means that the document has already been carried forward to the next fiscal year. You may also receive the error, “Can not process requisition, fiscal year (XXXX) does not match expected fiscal year (YYYY),” where XXXX is the base fiscal year of the document and YYYY is the fiscal year that was expected. You will need to review the document to see what your next step is, if any.

Does not Match Expected Status

If a document is in the Complete, Canceled, Open, Denied, Check Pending status, the software cannot carry it over to the next year. You will receive a message similar to “Can not process requisition, status (X) does not match expected status (Y)” where X is the current document status and Y is the status at the time the list was generated. You will need to review the document to see what your next step is, if any.


Make Requisition Payments for Last Year

Making payments for the base year after 7/1 has never been easier. Now, you can enter the payment using the payment activities in AP.

Tip

The Payments activity requires no special instructions. The software automatically knows which fiscal year is which, based on the fiscal year of the requisition compared to the fiscal year of the workstation.

1 Select the Enter Payments activity.

2 Change the fiscal year to the base fiscal year.

3 Enter the rest of the payment information.

The software will compare the current date to the cash close date for the final month in the base year’s Fiscal Year record to determine the correct date to use. This will prevent the user from adding payments for a fiscal year that has cash closed.

5-8 Release, Carryover, Accrue Documents, Make Requisition Payments for Last Year

Carried Forward When You Meant to Accrue

For example, if you carried forward a requisition (without a liability) when you meant to accrue, you can open the next year’s requisition and retroactively add the liability account to accrue the requisition:

1 Search for the requisition. (TIP: Remember that the prefix will be for the base year, but the fiscal year will be for the next year. So use a quick start like vr fy 2014; ref vr13.)

2 Open the requisition that you carried forward.

3 Go to the Accounts tab of the requisition.

4 Click New and add the next year liability account.

5 Adjust the liability amount column for the base year account.

6 Save and close the requisition.

Release, Carryover, Accrue Documents, Make Requisition

Make Non-Requisition Payments for Last Year

Making payments for the base year after 7/1 has never been easier. You can enter the payment using the Enter Direct Payments or Enter Employee Payments activity in AP activity group.

1 Select the Enter Direct Payments or the Enter Employee Payments activity.

2 Change the fiscal year to the base fiscal year.

3 Enter the rest of the payment information.

The software will compare the current date to the cash close date for the final month in the base year’s Fiscal Year record to determine the correct date to use. This will prevent the user from adding payments for a fiscal year that has cash closed.

5-10 Release, Carryover, Accrue Documents, Make Non-Requisition Payments for Last Year

Work Orders

The software does not carry over work orders. Work orders must be handled from the Work Orders activity. The standard practice is to close or cancel each work order that is still in the base fiscal year and then create new ones for the next fiscal year.

The work order’s status determines the action you can take:

If the status is Open or Submitted, you must cancel.

If the status is Approved, Assigned or Ready to Expense, you have a choice.

• You can cancel.

• You can complete. If you do not have offset accounts set up in the department record, the work order will be set to Complete. If you have offset accounts set up in the department record and there is an account amount associated with the item, this amount will be expensed and the work order will be set to Complete.

If you receive an error about offset accounts, that is because offset accounts are not defined in the Department record, yet there is an account amount specified in the work order item.

To fix the error, clear the account amount in the work order item and then use the Complete task.

Release, Carryover, Accrue Documents, Work Orders 5-11

Vendor Requisitions

It is important to understand the scenarios in which you would use the accrual and carryover fields.

To complete or close-out vendor requisitions, go to the Vendor Requisitions activity or use the Release column on the Year End Closing list to release the remaining balance. Remember, if the carryover, accrual and release fields are all set to zero, the requisition will carry over to the next fiscal year.

Working Your Vendor Requisition List

1 Go to the Finance-Process-Year End Closing activity.

2 Select the Document Type to Vendor Requisitions.

3 Click Go.

4 For each requisition, enter the accrual or carryover amount. The software will automatically set the process flag for that requisition to Yes.

If you need more information, highlight the requisition and click the Preview icon. This will run a requisition snapshot with payments.

5 Select Post from the Task menu to process all requisitions flagged as Yes.

Use the Enter key instead of the Tab key.

If you do not use the Enter key, your data cannot be validated and the list cannot be posted!

5-12 Release, Carryover, Accrue Documents, Vendor Requisitions

6 Verify that you want to process these requisitions. The software will process and return you to the list.

The documents that processed successfully will be flagged as Yes in the Process column and the Message column will display Processed.

Tip

To continue working on your list, you will need to go back to the Search tab and search again.

Set up an Accrual (Payable) for Next Year

This is used when you have received the goods or services before July 1st and will pay for them next year. The accrual amount (or payable) is expensed to the base year account and next year’s liability account is brought into the requisition for payment next year.

Enter the amount of the requisition (or a partial amount) in the Accrual field.

So what happens next year? The software only pays what was set up as a liability out of the account and the rest goes to the expense account. The expense account is always brought into the next year along with the liability account.

If you end up paying more than the liability, the software uses the base year expense account.

If you end up paying less than the liability, the software flags this as a final payment and releases the liability and uses the base year account. In other words, the software debits the liability account (this will clear it) and credits the expense account (this will increase the available balance in that account).

Carry Over Requisition to Next Year

You can carry forward a requisition from the base year to next fiscal year without setting up a liability. This will cause the requisition to be paid from next year’s appropriation. The fiscal year of the requisition will change to the next fiscal year, but the status of the requisition will remain the same.

In all cases, it is important to post all line item receipts and all invoices before you carry over the requisition. Why? Because the software defaults the dollar amounts, preventing potential data entry errors! In addition, if receiving has not been posted, a necessary payable may not be accrued.

Release, Carryover, Accrue Documents, Vendor Requisitions

Remember, if you are researching what a user has done with a requisition, just run the snapshot directly from your list.

Enter the amount of the requisition (or a partial amount) in the Carryover column of the requisition year end closing list.

Release the Funds of the Requisition

Sometimes it is just better to close out the requisition (e.g., requisitions in the Open status or submitted blanket requisitions).

Enter zero in both the accrual and carryover amounts. The software will automatically set the process flag to Yes and release the funds.

If the requisition is “in progress,” the software will “release” the funds and set the requisition to Complete.

If the requisition is “in progress,” and there are no funds to release (the accrual, carryover, and release columns all equal zero), the requisition will be carried over to the next fiscal year. If you want to complete the requisition in this fiscal year, you must manually complete the requisition from the Vendors Requisition activity.

If the requisition is in the Open status, the software will change the status to Cancelled.

What If I Carried Forward Too Soon

Sometimes we are so organized, we get ahead of ourselves, like carrying forward a requisition and then finding that we have time to pay it before the base fiscal year ends. The software has you covered. In the vendor requisition, you can use the Rollback YE Processing task (a user-based permission task) that “undoes” the processing on the Year End List so you can fix the problem and carry forward again.


What If I Need to Make a Change?

We realize that 99% of the time, wrapping up requisitions at year end goes as planned. However, we also realize that sometimes mistakes are made — data entry errors with the dollar amounts, invoices received but not entered, etc.

Base Year Is Open; Next Year Account Needs Changing

If you have NOT closed the books for the base year and discover a data entry mistake in a year-end liability that was set up, then you should use the Liability field in the Vendor Requisition.

1 Go to the Requisitions - Vendor Requisitions activity.

2 Open the requisition that needs to be changed.

3 Go to the Accounts tab.

4 Enter the liability amount in the Liability field of the base year expense account. (Scroll to the right if the field is not displayed in your viewable workspace.)


The software will make the appropriate changes to the liability account and linked account that were set up for the next fiscal year. In other words, it will unlock the liability, allowing you to resolve the problem.

If you have closed the books, go to the Make Payments for Last Year section of the Wrapping Up Fiscal Year End chapter of the Year End Reference guide.

Release, Carryover, Accrue Documents, Vendor Requisitions

Increasing this value will cause the liability account amount to be increased by the same amount and the linked account to be decreased. The user will be notified if the value would cause the account to go negative. The field has a minimum value of any amount that was paid through this account.

When you save the requisition, the software will create a journal entry that adjusts the accrued liability for the base fiscal year.

Base Year Is Open; Base Year Account Needs Changing

You can rollback year end processing for a single requisition (that has not been cancelled or completed) when you need to change base year's accounts. The Rollback Year End Processing task in the Vendor Requisition is only available to Fiscal users and above, and through user-based activity permissions. It is only available if there have not been any payments made in the next fiscal year.

1 Go to the Requisitions - Vendor Requisitions activity.

2 Open the requisition that needs to be changed.

3 Use the Rollback Year End Processing task. This reverses the liability and encumbrance journal entries and changes the fiscal year of the requisition back to the base year.

4 Go to the Accounts tab to review the accounts and modify if necessary.


6 Reprocess the requisition on the Year End Closing list.


Stores Requisitions

Stores requisitions are different from vendor requisitions, but they still need attention at year end. This process will take care of any expensing or “back orders” automatically. You do not need to perform any extra steps.

To complete stores requisitions, go to the Stores Requisitions activity or use the Release column on the Year End Closing list to release the remaining balance. Remember, if the carryover, accrual and release fields are all set to zero, the requisition will carry over to the next fiscal year.


2 Select the Document Type to Stores Requisitions.

3 Change the Process Default to Yes.

4 Click Go.

5 Stores requisitions default to release funds. Change the carryover amount, if necessary. (Stores requisitions cannot be accrued, only released or carried over.) The software will automatically set the process flag to Yes and process the funds.




If you released the funds, the software sets the status of the Stores Requisition to Complete and reverses the encumbrance.

If you carryover the funds, the software encumbers the carryover amount in the new fiscal year and reverses the encumbrance in the prior fiscal year.

Tip




As expected, stores requisitions that are completed on this list will no longer show up on the Issues list.

Release, Carryover, Accrue Documents, Stores Requisitions

Department Requisitions

Most department requisitions (e.g., food services and printing) will be completed and not carried over. To complete department requisitions, go to the Department Requisitions activity or use the Release column on the Year End Closing list to release the remaining balance. Remember, if the carryover, accrual and release fields are all set to zero, the requisition will carry over to the next fiscal year.


2 Select the Document Type to Department Requisitions.

3 Change the Process Default to Yes.

4 Click Go.

5 Department requisitions default to release funds. Change the carryover amount, if necessary. This amount must equal the remaining unexpensed amount for the requisition. the software will automatically set the process flag to Yes and process the funds. (Note that department requisitions cannot be accrued, only released or carried over.)




Tip




5-18 Release, Carryover, Accrue Documents, Department Requisitions

AR Invoices

Working Your AR Invoices List

It is important to understand the scenarios in which you would use accrual and carryover fields.

In all cases, it is important to post all base year payments before you carry over the invoice. Why? Because the software will help you by defaulting dollar amounts and thereby preventing potential data entry errors! In addition, if a payment has not been posted, a necessary receivable may not be accrued.


2 Select the Document Type to AR Invoices.

3 Click Go.

4 For each invoice, enter the accrual or carryover amount. The software will automatically set the process flag for that requisition to Yes.

If you need more information, highlight the invoice and click the Preview icon. This will run a snapshot.



Release, Carryover, Accrue Documents, AR Invoices 5-19

5 Select Post from the Task menu to process all invoices flagged as Yes.

6 Verify that you want to process these invoices. The software will process and return you to the list.


Tip


Set up an Accrual (Receivable) for Next Year

This will change the invoice’s fiscal year to the next fiscal year, add the appropriate accounts and write a history record. The software will write a journal entry with a transaction date of 6/30, debiting the prior year receivable and crediting the current year account.

Enter the amount in the Accrual field. (Defaults entire amount.)

Carryover the Invoice

This will not write any journal entries. It will simply add the next year’s accounts and write a history record.

Enter the amount in the Carryover field.

Release the Receivable of the Invoice

Sometimes it is just better to close out the invoice. The software will set the invoice to Complete and write a history record. The software will reverse the receivable. It will not, however, reverse any payments!

Enter zero in both the accrual and carryover amounts. The software will enter the remaining balance into the release amount. The software will automatically set the process flag to Yes.

What If this Isn’t the First Year I Carried Over?

Sometime, AR Invoices are carried over through multiple year-end cycles. The software understands this and calculates the amount received, unused receivable amount, and amount remaining to be received for each base year account for the invoice.

5-20 Release, Carryover, Accrue Documents, AR Invoices

If an invoice has never been processed in year-end, then its amount unused receivable will be zero. The amount remaining to be received is calculated as the current account amount plus any unused receivable amount minus any amount received in the base year. If this value is less than zero, then zero is used. To distribute any carryover or accrual amount, the following logic is used:

Account carryover amount = Total carryover amount * account amount remaining to be received / sum of all amounts remaining to be received.

Account accrual amount = Total accrual amount * account amount remaining to be received / sum of all amounts remaining to be received.

What If I Need to Make a Change?

We realize that 99% of the time, wrapping up invoices at year end goes as planned. However, we also realize that sometimes mistakes are made — data entry errors with the dollar amounts, invoices received but not entered, etc.

If you have NOT closed the books for the base year and discover a data entry mistake in a year-end receivable that was set up, then you should use the Receivable field in the Invoice record.

1 Go to the AR - Invoices activity.

2 Open the invoice that needs to be changed.

3 Go to the Items tab and adjust the item amounts as necessary.

If you have closed the books, go to the Make Payments for Last Year section of the Wrapping Up Fiscal Year End chapter of the Year End Reference guide.


4 Go to the Accounts tab and enter or adjust the receivable amount in the Receivable field of the base year revenue account. (Scroll to the right if the field is not displayed in your viewable workspace.)

5 Save and close the invoice.

The software will make the appropriate changes to the revenue account and linked account that were set up for the next fiscal year. In other words, it will unlock the revenue, allowing you to resolve the problem.

Increasing this value will cause the revenue account amount to be decreased by the same amount and the linked account to be increased.

When you save the invoice, the software will create a journal entry that adjusts the revenue for the base fiscal year.

Some Common Year End AR Scenarios

At year end, things can get really crazy with money coming in early or late. Below are some of the common scenarios with instructions for how to enter the information and how the software generates the journal entries.

Tip

The key to entering receipts across fiscal years is to enter the fiscal year to which you want to post and the appropriate receipt and post dates. The software understands multi-year processing, looking at the received date, posted (deposited) date and receipt fiscal year to determine what journal entries to create.

Base Year: Receive Next Year’s Money for Posting in Base Year

Today's date is 06/29 and I have received money on a next year invoice. The money will be deposited today, so I'll be posting the deposit with today's date.

1 Verify the cash awaiting deposit accounts exist in the next year. If they do not exist, you will receive an error and not be able to post deposit.

2 Choose the next Fiscal Year.

3 Enter the received date.

4 Approve with a post date of 06/29.

The software creates two journal entries:

Base Year: Credit cash awaiting deposit, debit cash.

Next Year: Debit cash awaiting deposit, credit account from receipt.


Base Year: Receive Next Year’s Money for Posting Next Year

Today's date is 06/29 and I have received money on a next year invoice. The money will not be deposited until 07/01 or later.

1 Choose the next Fiscal Year.


The software creates one journal entry:

Next Year: credit account, debit cash.

Base Year: Receive Base Year’s Money for Posting Next Year

Today's date is 06/29 and I have received money on a base year invoice but it will not be deposited until 07/01 or later.

1 Choose the base Fiscal Year.




Base Year: Credit account from receipt, debit cash awaiting deposit.

Next Year: Debit cash, credit cash awaiting deposit.

Next Year: Receive Base Year’s Money for Posting in Base Year

Today's date is 07/07 and I received money for the base year prior to 07/01 and deposited it prior to 07/01 (the receipt was deposited before it was entered into the software).



3 Enter receipt with or without invoice.


The software creates one journal entry:

Base Year: Credit account in receipt, debit cash.


Next Year: Receive Base Year’s Money for Posting Next Year

Today's date is 07/07 and I received money for the base year but wasn't deposited until 07/07.



3 Enter receipt with or without invoice.



Base Year: Credit account from receipt, debit receivable account.

Next Year: Credit receivable account, debit cash.


Error Resolution

On occasion, you may receive a post failed, error message. If you do, please see the information below to help you resolve the issue.

Amounts cannot be negative

You cannot process a document with negative outstanding accrual or carryover amounts. The accrual and carryover columns on the list are editable, but may not be set to a negative value.

There are several ways in which you might find negative amounts on your list. For example, the requisition has been expensed for more than what was received, where the negative accrual amount is the difference between the received amount and the expensed amount.

To resolve this error, you must open the document and make your changes there.

Can not accrue requisition, account “xxx” is expired, doesn't exist or contains expired component(s) in new year.

The document did not accrue because the account for the next year does not exist or has expired. You have two options: change the expense account in the document or create the expense account in the next fiscal year.

Expense account does not exist in new year and year end error account is invalid or not setup.

The document did not carryover because the account for the next year does not exist or has expired and the error account is not setup. You have several options: change the expense account in the document, create the expense account in the next fiscal year, or set up the error account correctly.

Outstanding receipts.

You cannot process invoices that have outstanding receipts. You should run the Fiscal Year End Checklist (Fiscal15) report — from the System-Setup-Fiscal Year Status activity or the Finance-Reports-Fiscal activity — to see if you have any outstanding receipts. If you do, cancel those receipts, process the invoices on this list, and then re-enter your receipts.

Release, Carryover, Accrue Documents, Error Resolution 5-

Processed - One or more accounts are missing in new fiscal year

The software used the error account to process the document. Please see the” What If Accounts Don’t Exist in the New Year” section earlier in this chapter to determine your course of action.

5-26 Release, Carryover, Accrue Documents, Error Resolution

CHAPTER 6Inventorying Assets

At regular intervals, you will want to obtain the latest actual quantities from the sites. You may also want to perform a batch-update of assets (e.g., tagging a roomful of computers, assigning a new asset category).

This chapter contains an overview of the steps you will take to complete a physical inventory (or batch update).

Tip

This activity is only available to Fiscal users and above.

Inventorying Assets 6-1

Checklist

This process assumes that someone is physically verifying every item and its location. Thus, the process is generally managed by location and room.

1 Define your search criteria. Go to Finance-Assets-Asset Physical Inventory. Define the search criteria to produce your list of assets. You will need to reproduce this list for the import, so we suggest you save the search criteria as a favorite. Select the Manage option from the Favorites menu to save your criteria.

2 Export the data. Now that you have a defined/saved search, you can use the Task menu to export the data to a CSV file. You may give this file to a vendor to perform your inventory or you can edit it using any software that can import/export CSV files (e.g., Microsoft Excel).

If you are using Microsoft Excel, we suggest that you use the Import Wizard to open the data. If your Location ID or Vendor ID (or any other fields) contain leading zeroes, the Import Wizard gives you the option to define those columns as “text,” automatically importing the leading zeroes. If you do not use the Import Wizard, leading zeroes will be stripped off the data columns.

3 Perform physical inventory. Find each asset, confirm the tag number and other descriptive attributes, and most importantly note if it moved from one location/room to another. If it is missing, it may be at another location. Also, take note of any assets that are new (surprise!) or need to be disposed.

If you are going to have an outside vendor take your physical inventory, please read the Checklist for Vendors below.

4 Import file. Go to Finance-Assets-Asset Physical Inventory and use your favorite search to pull up the same list. Import the file you created manually or with a barcoder, review, and post.

5 Find missing assets. Go to Finance-Assets-Asset Physical Inventory. Export a list of missing assets and go find them. When found, use the same search criteria, and make them active again.

6 Dispose of assets as appropriate. Go to Finance-Assets-Fixed Assets. Search for disposed assets using the disposal date. Enter the disposed method.

7 Print Reports. After the physical inventory is complete, print desired report for your records.

6-2 Inventorying Assets, Checklist

Checklist for Vendors

The vendor’s software must support CSV files.

Many districts hire a vendor to take physical inventory of their assets. Please follow the checklist below before the vendor starts the physical inventory process.

1 Print a List of Locations. Go to the -Setup-Organizations record. Select the Locations tab. Export the list to an Excel file and give this to the vendor to use.

2 Provide a List of Asset Types. The Asset Type must be noted. If it is not, then your depreciation calculations could be wrong!

3 Provide a List of Asset Statuses. There are only four asset statuses in the software: A - Active, D - Disposed, M - Missing, and P - Pending. Your vendor may need to change an active status to disposed or missing. Any new assets (pending) will need to be added manually. The import does not create assets.

4 Print a List of Group/Subgroups. Go to the Finance-Setup-Asset-Group/ Categories. Export the list to an Excel file and give this to the vendor to use. The vendor should use your codes whenever possible.

Inventorying Assets, Checklist 6-3

Inventorying Fixed Assets

Overview

The import/export process is driven by the list. When you import a file, the software compares the assets in the file to the assets in the list and makes assumptions shown in the yellow box below.

Figure 6-1 Import Overview

Define Search Criteria

Use the Asset Physical Inventory activity.Define your search criteria.

Save the criteria as a favorite.Click GO to generate your list.

Export Data to a File

Select Export from the Task menu togenerate a CSV file.

Perform Physical Inventory

Find and confirm each asset.Edit fields in file or use barcoder.

Take note of new assets.

Import File

Use the search favorite to generate list.Select Import from the Task menu.

Asset is marked as MOVED.Asset is updated when posted.History record is written.

Asset location or room was changed.

Asset is marked as UPDATED.Asset is updated when posted.History record is written.

Other fields were changed.

Asset is marked as CONFIRMED.Inventory date is updated when posted.History record is written.

No fields were changed.

Asset is marked as MISSING.Asset is updated when posted.History record is written.

Asset is not in file.

Error in import (unmatched record).Asset must be added manually.

New asset is in file.

Review and Post

Select Post from the Task menu topost all changes and

create history records.

6-4 Inventorying Assets, Inventorying Fixed Assets

Define Your Search Criteria

The list you create for the export must be the same as the list you create for the import.

The asset list contains all of the columns that are available for update, except Asset ID which cannot be edited (this is the KEY to assets) and Inventory Date (this can only be edited in the file or upon posting).

1 Go to Finance-Assets-Asset Physical Inventory activity.

2 Enter your search criteria. The most commonly used is a status of Active and location.

• Location — Use a lookup or enter one or more locations. This will give you a list of all assets associated those locations.

• Room – Enter the room number. This will give you a list of all assets associated with that room number.

• Campus – Use a lookup to select one or more campuses. This will give you a list of all assets associated with those campuses.

• Asset ID – Enter a number, a series of numbers or a range. For example, you could enter a complete number “12345”, a partial number “123”, a series of numbers separated by a comma “12345, 34567” or a range using two dots “12345..34567”.

All fields on the inventory list are editable except the asset ID, vendor name and inventory date.

Asset ID cannot be changed. It is generated.

Vendor name is controlled by the vendor ID, which is editable.

The inventory date can be imported or set automatically upon post.

Inventorying Assets, Inventorying Fixed Assets 6-5

• Tag Number – Enter a number, a series of numbers or a range. Works the same as the Asset ID search. You may also enter “n/a” to search for assets with a tag number of N/A.

• Asset Group – Use a lookup to select one or more asset groups (e.g., Business Machines, Computers).

• Asset Category – Use a lookup to select one or more asset categories (e.g., fax, monitor). This field is filtered by the Group field. You must pick a single group to get a lookup of categories.

• Type – Use a lookup to select one or more asset types. For example, you could select all asset types that are depreciable.

• Responsibility – Use a lookup or enter the name of a program (e.g., SIP or GATE) to get a list of assets associated with that program.

• Category – Use the lookup to select one or more categories to generate a list of all assets for those categories (e.g., auditorium remodel).

• Vendor ID – Use a lookup or enter the vendor ID. This will give you a list of all assets associated with that vendor. Remember, you must enter at least two characters to get a lookup of vendors.

• Reference Number – Enter a requisition or purchase order number (or partial). This will give you a list of all assets associated with those purchase orders or requisitions.

For example, if you supplied a partial number (e.g., PO04), you will get a list of all assets associated with purchase orders or requisitions that start with that sequence.

• Receipt Date – Enter a date or date range. (You can use the drop down calendar to find the date.)

• Status – Use the lookup to select one or more statuses. This will give you a list of all assets with those statuses. (Defaults to all statuses.)

• Status Comment – Enter a partial or complete comment. For example, you could enter “comp” to generate a list of all assets with a status comment that contains the letters “comp.”

• Inventory Date – Enter a date or date range. This is the date the item was “scanned.”

3 Save your search criteria as a favorite. Your export list MUST match your import list or the assets will not be updated. If your search criteria is any more complicated than active assets for a location, please save as a favorite.

• Click the Manage task from the Favorites menu.

• Click Add. You can see the criteria you entered in the Values box.


• Change the name of the favorite and click the Apply Change button to save the new name. (We suggest using search criteria in the name.)

• Click Save to save the favorite.

4 Click Go to create the list.

Export the Data

The export file will include the location (site), room, tag number, description, campus, asset group, asset category, serial number, model number, date disposed, disposal method code, disposal method description, asset type, date scanned (inventory date), asset status, org ID, asset ID, asset department, warranty day count, warranty date, responsibility code, project ID, vendor ID, vendor name, longevity (expected life), and status comment.

The file is sorted by location, room number, then asset group.

1 Select the Export Asset Data option from the Task menu.

2 Define the file name (and directory). (If you used a search favorite, we recommend using the same name for the file. That will make it easier to match your import files.)

3 Click Open to save the file.

The CSV file will be written to the file name specified. The file can be edited with any software that supports the CSV format (e.g., Microsoft Excel).

The Action column is not included in the file; the software automatically updates that column upon import.

Perform Physical Inventory

If you are going to have an outside vendor take your physical inventory, please read the Checklist for Vendors.

You can change the sort and any field in the file except Asset ID.

1 Find each asset, confirm the tag number and other descriptive attributes.

2 Use a barcoder

OR

Update the spreadsheet with the information:

• The asset is correct. Do not make any changes to the spreadsheet. The software will update the asset’s inventory date automatically with an action of Confirmed.

• The asset has moved. Change the location or room number. The software will update these fields with an action of Moved.

DO NOT use the Export button.

USE the Export Asset Data option from the Task menu.


• The asset is missing. Change the status to Missing. You will need to follow up on this later, either finding the asset or disposing of it.

• The asset is broken. Change the status to Disposed and enter the disposed date. You will need to follow up on this and enter a disposed method manually.

• A new asset is found. Do not enter this in the spreadsheet. Record the information separately. This will have to be added manually.

Import the Spreadsheet File

Warning

The import does not validate data. You must ensure that codes (locations, asset group, asset category, etc.) are correct. If you are entering any tag number (beside N/A), the tag number must be unique.

The software compares the list you create to the information in the file. To update assets, the asset IDs on the list must match the asset IDs in the file. If there is an asset ID in the file, but not on the list, the asset will be ignored.


2 Enter your search criteria. If you saved a favorite when you created your export list, select it from the Favorites menu now.



4 Select the Import Asset Data option from the Task menu.

5 Select the file name (and directory) and click Open to import the file.

The software will match the records based on the Asset ID column. It automatically determines the Action based on the following criteria:

• CONFIRM – The asset in the list has a match in the file. Only the inventory date has been changed, either in the import file or by the import process. The inventory date will be updated and a history record created.

• UPDATE – Some column values (not location or room) were changed. Those columns and the inventory date will be updated, and a history record created with the old and new values.

• MOVED – This is just like UPDATE, except the location (site) or room was changed. This alerts the user to movement. Those columns and any others, including the inventory date will be updated and a history record will be created.

• MISSING – The asset is on the list, but not in the file. Asset status will be changed to MISSING. The inventory date will not change. A history record will be written.

• SKIP – User generated action. For whatever reason, the user does not want to update the asset record at all, even though it may have been in the file. The inventory date is NOT updated, but a history record with the comment “Asset skipped during physical inventory by <userid>” is written.

6 Edit the data if you desire. All fields are available for edit except Asset ID and Inventory Date.

7 Select Post from the Task menu.

8 Enter the inventory date (defaults to the date in the file) and history comment (if desired).

9 Click Post Inventory. All items will be updated and all fields will be locked. If any fields that affect depreciation were changed, the depreciation will be recalculated.

The statistics in the post dialog refer to the assets that will be posted, not the total assets on the list. This applies to multiple posts from a list.

If you post multiple times without leaving the list (i.e., you are using the Skip action), subsequent postings will ignore (listed) assets that were previously posted. If you perform a new search, the process starts fresh.

If you accidentally try to import your file while you still have it open in another window (e.g., Microsoft Excel), you will get an error and the Import Asset Data option will be grayed out.

Click on any field in the list and the button will become available again.


Unmatched

If you import a file and the dialog box states that you have unmatched assets, this means that you have asset IDs in the file that are not on the list.

To determine which asset ID is unmatched, use the Compare and Merge Workbooks function in Microsoft Excel.

You will need to add the asset manually.


Create a List of Missing Assets

Missing assets are very important. They must be found or resolved.


2 Enter the status Missing as your search criteria.


4 Select the Export Asset Data option from the Task menu.

5 Define the file name (and directory).

6 Click Open to save the file.

7 Go look for the asset.

Tip

When you bring up a list of missing assets, the Action column defaults to Missing. This list could be used to update the Asset Status of those assets. To change all of the missing assets to Active, you can export this file and then re-import. The action column will then default to Confirm and the Asset Status will be changed to Active when you post the file.

If the Asset Is Found


2 Enter the status Missing as your search criteria.


4 For each found asset, change the status to Update and enter the new location and room.

For each asset on the list that will not be updated, change the status to Skip.


6 Enter the inventory date and history comment (if desired).

7 Click Post Inventory.

The software will change the “missing” asset’s action to Updated. In addition, the status of the asset will be change to Active, the inventory date will be stamped and a history record will be written.

Assets on the list with an action of Missing will not have their status updated; however, the inventory date will be stamped and a history record will be written.


If the Asset Is Not Found

1 Go to Finance-Assets-Fixed Asset activity.

2 Use the tag number to search for the asset.

3 Click Go to create the list and open the asset.

4 Update the asset as directed by your district standards.

Dispose of Assets as Appropriate

As part of your inventory process, you may dispose of assets.

1 Go to Finance-Assets-Fixed Asset activity.

2 Use the tag number to search for the asset.

3 Click Go to create the list and open the asset.

4 Change the Status to Disposed.

5 Enter a Disposal Date, Disposal Method and Disposal Comment.

6 Click Save.

7 Enter a reason for the change of status.

8 Click OK.


The asset record will be saved and a historical record will be written, containing both prior and new values.

Print Reports

After the physical inventory is complete, print desired report for your records.

1 Go to Finance-Reports-Assets activity.

2 Select the report. The software has several options.

3 Enter the report criteria and click Go to generate the report.


Barcoder Import

You can update your inventory from data collected with a barcoder. Currently, the software supports the TriCoder 5000 available from Worth Data. To implement this feature using this barcoder, please contact Customer Care.

Creating the File Using the Barcoder

You will need to purchase the barcoder and download the software for the barcoder onto a workstation. Once you have the barcoder completely installed, you are ready to start your inventory.

1 Complete the inventory following the instructions for the barcoder.

2 Connect the barcoder to the workstation.

3 Upload the file from the barcoder onto a workstation, making sure the Data file option is marked, and then designate a file name and location for this file.

You will want to make sure that you will be able to access the data file from the software!

4 Select the Data Upload option (on the barcoder).

5 Once the upload is complete, you can disconnect.

We do not recommend that you delete the inventory file from the barcoder until the information is completely loaded into the software.

Uploading the File

The barcoder import includes the organization ID, campus, location, room, date scanned, and tag number in a CSV file format. Org ID and tag number are required. Any fields that are blank in the import will be “blanked out” in the asset in the software. Any fields that are different from what is in the software will be updated to what is in the barcoder file.


2 Enter your search criteria to create a list of assets you inventoried. If you saved a favorite when you created your export list, select it from the Favorites menu now.


4 Select the Import Barcode File option from the Task menu.

6-14 Inventorying Assets, Barcoder Import

5 Select the file name (and directory) and click Open to import the file. (Note that if you have a file extension that is not CSV, you will want to change the option to search all files.)

The software will match the records in the file to the assets in the database based on the Org ID and Tag number.

6 Click OK on the dialog, confirming the number of imported records.

The software will update your list to reflect how it was affected by the import. If the item was scanned in a different location or room, the Action will change to “Move” and the different value will be in bold. An action of “Confirm” means the item was scanned in the same location as it exists in the database. “Missing” means the asset on the list (exists in the database) does not exist in the barcoder import file.

7 Edit the data if you desire. All fields are available for edit except Asset ID and Inventory Date.


9 Enter the inventory date (defaults to the date in the file) and history comment (if desired).

10 Click Post Inventory. All items will be updated and all fields will be locked.

The statistics in the post dialog refer to the assets that will be posted, not the total assets on the list. This applies to multiple posts from a list.

The assets will be updated as appropriate and a history record will be written to each asset describing the change. The only exception is assets with the action of “Skip.” Nothing will happen to these assets: no changes will be made and no history record will be written.

Using a Barcoder for Data Entry

You can also scan your fixed asset tag numbers and serial numbers into the software with no custom programming.

We have tested this on several barcoder scanners and it works.

1 Plug the barcode scanner into a USB port on your computer (or connect in some other way).

2 Put the scanner in non-portable mode.

3 Put the cursor in the Tag Number or Serial Number field of the asset in either the Asset Physical Inventory list or Fixed Asset form.

4 Point the scanner at the barcode on the tag and pull the trigger.

The software accepts the input just as if you had typed it. Our testing shows this works with any barcode number. So if you want to input the Serial Number field, you can point to the barcode line of the item's serial number and pull the trigger.

Inventorying Assets, Barcoder Import 6-15

Batch Updates

The Asset Physical Inventory activity can also be used for batch updates. For example, purchasing may order a roomful of computers and, when the computers are received, they need to have the records completed.

Instead of manually updating each fixed asset, purchasing could:

1 Create a list of assets by reference number.

2 Export the data.

3 Enter the updated information (room number, tag number) into the file.

4 Import and post the file.

Purchasing could also enter the new information directly on the list.

Another idea would be to use this utility to assign assets to a new asset category.

6-16 Inventorying Assets, Batch Updates

CHAPTER 7Inventorying Stores

At regular intervals, you will want to inventory the stores warehouse.

This chapter contains an overview of the steps you will take to complete a physical inventory.

Tip

This activity is available to DeptUsr roles and above. However, DeptUsr and DeptMgr roles will have their lists filtered by department automatically.

Inventorying Stores 7-1

Checklist

This process assumes that someone is physically verifying every item and its location. This process assumes that someone is physically verifying the quantity of every item.

1 Set a Cut-off Date for Issues from the Stores Warehouse. Setting a cut-off date for any issues out of the warehouse is important. You will want to let all district office and site users know the cut off. Most districts establish a cut-off date for the creation/submission of stores requisitions well in advance of the physical count date. This can be set up in the department record.

Keep recording any receipts that occur before you start your physical count.

2 Stop Processing Stores Requisitions & POs. Once the cut-off date for submission of new requisitions (as well as recording issues) has passed, you should stop processing them in the software. It is just not possible to issue requisitions while someone is counting what’s on the shelves.

3 Communicate Your “Down Time.” The time you spend taking a physical count is really your “down time.” It is a time when most of the warehouse activity stops and everyone is concentrating on taking the count. We would like to stress the importance of communicating your “down time” to everyone so you can take the count quickly and efficiently and then get busy processing stores requisitions again.

4 Run the Stores Valuation Report (Stores05). Go to Finance-Reports-Stores. Run as of the date you started the inventory process. Make sure your criteria includes all items in the report. This report is an excellent resource for your accounting department, auditors and insurance company. We suggest that you run it for all items in the warehouse and save the report to PDF for archiving purposes!

5 Run the Physical Inventory Worksheet (Stores04). Go to Finance-Reports-Stores. This report is specially designed for you to record the on-hand quantities of each item as you take inventory. Take note of the report criteria you select, because you must use that same selection and sort criteria when you go to the Stores Physical Inventory activity.

You could also export the physical inventory list to Microsoft Excel if you wanted to perform your inventory online.

6 Perform physical inventory. Count each stores item, confirm the item number and other descriptive attributes.

7-2 Inventorying Stores, Checklist

7 Make adjustments. Go to Finance-Stores-Stores Physical Inventory and use the same selection and sort criteria from the Physical Inventory Worksheet. Enter the numbers, review, and post. The software will automatically write the new amount and inventory date and history records.

8 Run the Stores Valuation Report (Stores05) AGAIN. Go to Finance-Reports-Stores. Run as of the completion of the adjustments. Make sure your criteria includes all items in the report. This report is an excellent resource for your accounting department, auditors and insurance company. We suggest that you run it for all items in the warehouse and save the report to PDF for archiving purposes!

It is extremely important that you run this report before any issues or receipts are recorded in the software. Why? Because this reports takes the current on hand quantity for each item and multiplies it by the current order price to obtain a value for each item.

9 Adjust the stores account. You will need to discuss with the accounting department how the adjustments and final valuation of your inventory will affect your stores account. Manual journal entries to adjust the value of the account will probably need to be made.

Inventorying Stores, Checklist 7-3

Inventorying Stores Items

The stores list contains many columns to make it easy to sort and select items.

1 Go to Finance-Stores-Stores Physical Inventory activity.

2 Enter your search criteria. For expediency, this should match the sort and selection criteria you entered for the Stores04 report. For example, if you sorted the report by item number, remember to sort your list by item number.


4 Enter the New Issue Quantity. This defaults to the on hand quantity (in issue units) from the item. You do not need to change it if it matches your physical inventory count.

5 Select the Action based on whether or not you want to record the inventory now or later. This defaults to Update. More often than not, you will not need to change the action.

UPDATE – Record inventory now. The action taken depends whether you have updated the quantity or not.

7-4 Inventorying Stores, Inventorying Stores Items

• Update quantity. The on hand quantity and inventory date for the stores item are updated. An adjustment record is created for the difference. Plus, a history record is written showing the old and new values and the date of the inventory.

• No changes. If the user does not change the inventory quantity, the inventory date for the stores item is updated. Plus, a history record is written with the date of the inventory.

SKIP – Record inventory later. For whatever reason, the user does not want to update the inventory record at this time. A history record will be written documenting the Skip action and the user id


7 Enter the inventory date (defaults to TODAY) and history comment (if desired).

8 Click Post Inventory. All items will be updated and all fields will be locked.

Tip

If you skip items on your list, there are two ways that you can find them for update. You can search by inventory date or you can sort the list by inventory date.

Balancing the Stores Account

Generally, there are three reasons why your stores account may not balance with your valuation report.

Stores requisitions are expensed for an incorrect amount.

Purchase orders to replenish stores items are outstanding, and need to be accrued as a liability so that the stores account balance is reduced.

Inventorying Stores, Inventorying Stores Items 7-5

Cost averaging, theft, etc.

Discrepancy Between Stores Valuation and Stores Account

Occasionally, customers will find a discrepancy between their stores valuation report and their stores account. Some of the discrepancy may be the result of the way expensing occurs in stores requisitions. The key here is that the ORDER AMOUNT is what is expensed. In other types of requisitions, it is the received amount that gets expensed, not the order amount.

Updating Skipped Records

You may want to skip records during your process and then come back later to update the amounts. The best way to do this is to select your list by inventory date. For example, if you started entering inventory counts on March 5, you could enter a simple date range for anything inventoried before that date (i.e., ..3/4 would result in a list of items that were inventoried on 3/4 or earlier).

Handling Stores Returns from Prior Fiscal Years

There are two ways to handle the expensing of stores returns from prior fiscal years. Each department may choose the method that works best for them.

The Prior Year Returns field in the Stores Requisition section of the Department record has two options: Post to Current Year (the reversing JE is created in the current fiscal year) and Post to Prior Year (the reversing JE is created in the prior year).

If a user tries to return a stores item after the fiscal year has closed and you have the flag set to Post to Prior Year, the user will receive an error. In addition, if the stores requisition uses an account that has been expired or does not exist anymore, the software will expense the items to the year end error account.

7-6 Inventorying Stores, Inventorying Stores Items

CHAPTER 8Wrapping Up Fiscal Year End


Before you close the fiscal year, there are a couple of steps you should take to ensure that all requisitions, journal entries and invoices have been addressed.

Wrapping Up Fiscal Year End 8-1

Clear Hourly Employee Payroll Encumbrances

Tip

This task is only available to System Manager users.

If you do not use the hourly employee encumbrance feature, you do not need to use this task.

The software supports the encumbering of hourly employees through an hourly encumbrance journal entry. If you have this “turned on” (the Hourly Emp Encumbrance flag in the Organization record is set to YES and the Encumber Emp Hourly Pay flag in certain salary account object components is also set to YES, and you import and post the journal entry), the software will encumber those amounts in the journal entry. As each pay date is processed for employees paid with accounts containing those objects, the software will unencumber the imported encumbrance journal entries.

At year end, there may be some balances left in the encumbrance journal entries. You will want to use this task to unencumber those balances.


2 Open the base fiscal year.

3 Select the Clear Outstanding Hourly Emp Enc task.

4 Click Yes to clear the encumbrances.


6 Go to the History tab to review the history record.

If there are encumbered amounts “left over” at year end, the software creates a journal entry that clears the remaining encumbrance, even if the amount is negative. The transaction date is set to TODAY unless the fiscal year has already passed. In that case, the transaction date is set to 6/30 of the base year.

If there are no amounts left to unencumber or you do not use the hourly encumbrance feature, the history message will read, “No outstanding Salary Encumbrances for Hourly Employees were located.”

8-2 Wrapping Up Fiscal Year End, Clear Hourly Employee Payroll Encumbrances

Roll Forward Leaves

You MUST enter June leaves BEFORE you roll forward leaves!

Before explaining how the task works, let’s take a moment to review what is meant by the statement above:

Base Year – You MUST post all leave transactions for the base year BEFORE running the task. Posting is done in the Leave Transaction activity. Basically, you want to enter all your usage for the base year, particularly June, so that it is present on the Leaves tab in the Employee Management activity (entered either directly there or from posting a Leave Transaction batch).

Next Year – You can also enter July or “future” usage and post it in the Leave Transactions activity, but you will be prevented from loading the July leave period in the Leave Status activity (e.g., July is not “active”) until the leaves are rolled forward.

Now let’s talk about the task itself. The Fiscal Year Status activity is where you perform the roll forward process.



3 Select Roll Forward Leaves from the Task menu. The software will roll forward the leaves and create a history record.

4 Check the history record in the next fiscal year to review the roll forward process.

The Roll Leave Balances Forward task creates a special balance forward transaction dated 07/01 of the fiscal year. The balance forward transaction is the sum of prior transactions. However, some leave balances may have a ceiling. The limit that can be carried over each year and the grant amounts fields in the Leave Balance Profile record define the “ceiling.” These two fields control how much a person can carry-over, regardless of the sum of their prior transactions.

The calculation used for limiting carry-over sums is based on an FTE of 1.0. This means that all employees, including part-time workers and those not working at all, can carry over up to a full-time amount of leave.

The roll forward process only uses the leave group code from the employee’s primary position. In addition, the max grant amount feature will also use the employee’s primary position leave group to determine the maximum. This is of special note for organizations that grant leaves by assignment (the Leave Grant Using Primary Assignment flag in the Organization record is set to Use All Assignment Leave Groups).

Wrapping Up Fiscal Year End, Roll Forward Leaves 8-3

If you enter transactions for “next year” before you have rolled forward, the software will include these “future” transactions in the rolled forward leave balance. To help you identify these transactions, the roll forward leave process will copy the Create User and Create Date to the Edit User and Edit Date fields in the transaction. In addition, the Create Date will be set to the first day of the base fiscal year with a timestamp one minute later than the original timestamp. The Create User will remain the same. For example, on February 14 at 10:15, the user CELESTEM creates a transaction for August. After you roll forward leaves, that transaction will show CELESTEM as both the Edit User and the Create User. The Edit Time will be 2/14 10:15 and the Create Time will be 7/1 10:16.

Special Considerations

During the roll forward process, the software will backdate any usages or adjustments that were entered in a new fiscal year, but effective in a prior fiscal year.

If for whatever reason an arrears transactions is entered after the roll forward has taken place, the arrears transaction will be counted as coming after the balance forward transaction and may require additional adjustments to be entered to compensate for the tardiness of the transaction.

If you have to post leaves for the base year, after you have rolled forward, you will need to rollback and then roll forward again to have those base year leaves reflected in the next year balances. If you have already loaded leaves for July, you will not be able to rollback the roll forward of leave balances.

End of Year Leave Balances

The software gives you several options for what to do with leave balances at year end. Most employees carry over their balances to the next year. Others get paid for all unused leave.

A leave balance profile can have only ONE defined option. Thus, an employee can only have one option. In other words, the employee cannot mix and match options, having some leave carryover but being paid for others. (Although, this can be handled manually. See the Excess Vacation Leave Balances section.)

The following describes the setup and use of each option.

Carrying Over Leave Balances

Some organizations allow employees to carry over all or some of their unused leave to the next fiscal year.

1 In the Leave Balance Profile:

• Set the Limit Carryover flag to No. The employee can carry over all of their unused leave. Skip the next step.

8-4 Wrapping Up Fiscal Year End, Roll Forward Leaves

• Set the Limit Carryover flag to Yes. The employee can carry over only so much of their unused leave.

2 In the Leave Balance Profile, set the Max Carryover column in the Balance Profile Grant Ranges, limiting the amount the employee can carry over.

When leave balances are rolled forward, any remaining balance will be compared to the max. If the employee has a leave balance that is greater than the max, the software will create an adjustment to reset the balance to the max.

Paying Off Leave Balances

Some organizations pay off any remaining leave balances at the end of the year.

1 In the Addon record:

• Set the Rate 1 Amount to zero. (The software will calculate the addon amount for you when the leaves for the last earning period are posted.)

• Set Rate 1 Option to hourly or daily, as appropriate.

• Set the Rate 2 Amount to 1.

• Set the Rate 2 Option to Locked.

2 In the Organization record:

• Enter the Addon(s) from step 1 in the Addon Payoff in Hours and Addon Payoff in Days fields, as appropriate.

3 In the Leave Balance Profile:

• Set the Payoff flag to Payoff (balance is paid off in the last earning period).

• Set the Limit Carryover flag to Yes.

• Set the Max Carryover in the Balance Profile Grant Ranges to zero.

When you post leaves in the Leave Status activity for the LAST earnings period, the software creates a leave adjustment to set the leave balance to zero and an addon adjustment in Adjust Payroll with the calculated amount for the employee’s payoff.

Excess Vacation Leave Balances

In the State of California, there is no such thing as use-it-or-lose-it for vacation pay. Therefore, if there is excess, the employee must be allowed to use it or you must pay the employee for it. There are two ways to handle this in the software.

1 Never accrue a liability in the first place. In the Leave Balance Profile:

• Set the Limit Leave Grant flag to YES to prevent excess grants from taking place, avoiding any employer liability for an excess vacation at year end or employee termination.

Wrapping Up Fiscal Year End, Roll Forward Leaves 8-5

• Set the Carryover Max field to the desired limit. When loading leave balances, the software starts with the maximum leave allowed, then adds/subtracts adjustments and future leave usages (in date/time created order) and compares that amount to the Carryover Max field. If the amount is over the max, the vacation is not granted. For historical purposes, the excess is stored in the Units Exceeded column, available for viewing from the Leaves tab in the Employee Management activity.

2 Allow for carryover and payout the rest. If your setup does not stop excess vacation leave balances, you are required to allow an employee to use them or receive the equivalent pay. The Leave Balance Profile allows you to choose one or the other, but not both. If you find yourself in a situation where the employee has accrued more than the maximum carryover amount for a vacation balance, you can manually pay out the excess or adjust the leave amount back to the employee’s original balance.

• Roll Forward Leave Balances. Any balance above the carryover maximum will create a negative adjustment.

• Run the Leave Transaction (Leave01) report for 6/30 of the base year, for adjustment transactions only.

• The report will show the employee and how many hours were adjusted out for the maximum.

• Give the report to payroll for entering the pay adjustment. Or, create a leave adjustment to “give back” the excess leave.

8-6 Wrapping Up Fiscal Year End, Roll Forward Leaves

Balance Resources that Don’t Allow Ending Balances

There are some resources that do not allow ending balances. If an account with one of these resources has a balance at year end, the ending balance must be cleared.

If the ledger includes resources that are not allowed to have an ending balance (Allow End Bal flag in the resource component is set to No), but they have an ending balance, a Resources with Ending Fund Balances section will appear at the end of the Fiscal Year End (Fiscal15) report. You cannot close the fiscal year until this resource’s expenditures and revenues of these accounts are equal.

You must set up a receivable or deferred revenue for the balance before you can close the fiscal year. The calculation used to determine the difference between revenues and expenditures is Actual Starting Balance + Revenue - Expenditures = Difference.

To do this:

1 Go to the Journal Entries activity.

Click New to create a journal entry in the base fiscal year to move the balance to the deferred revenue account, or another account as appropriate.

Wrapping Up Fiscal Year End, Balance Resources that Don’t

Clear Outstanding Journal Entries

Post or delete all journal entries that have not been posted or cancelled.

To find unposted journal entries:

1 Go to the Journal Entries activity.

2 Search for JEs in the base year in the Open, Denied, Submitted and Audit statuses.

3 Take the appropriate action.

8-8 Wrapping Up Fiscal Year End, Clear Outstanding Journal Entries

Reconcile AP and AR

Run the Receivables/Liabilities Activity (Ledger02) report from the Finance-Reports-Ledger activity to reconcile the liability and receivable accounts to ensure that amounts accrued during the base year are cleared appropriately in the next year.

We suggest you run it with only the following parameters entered. Leave all others blank or as the default entry.

Closing year – Enter the base fiscal year for which the liabilities or receivables were setup.

Cleared items – Change this to No to limit the report to only items that have not been cleared. (Defaults to Yes, list all transactions, including those where the liability or receivable has been cleared.)

Unposted JE – Change to Yes to include journals that are not posted on the report. (Defaults to No.)

Note that the offset objects the report uses are defined in the Ledger tab of the Organization record. Each fiscal year is set to a different object code. For example, the next year could be 9511 and the base year could be 9510.

Wrapping Up Fiscal Year End, Reconcile AP and AR 8-9

Run the Financial Statement

Run the Financial Statement report from the Finance-Reports-Fiscal activity to verify the organization’s finances are in balance. This report is a standard type of balance sheet, showing assets, liabilities and fund balances, as well as estimated balances from the budgetary accounts. It shows revenues and expenditures by fund for the district for a time period.

The report criteria should be as follows:

Fiscal Year - the base fiscal year

Ending Account Period - June

Include Zero Balance - Yes

All other options should be left as is

It also prints the net increase or decrease in fund balance and prints the projected ending balance for adopted, revised budget, actuals and account balance.

8-10 Wrapping Up Fiscal Year End, Run the Financial Statement

Print the Fiscal Year End Checklist

Run the Fiscal Year End Checklist report from the System-Setup-Fiscal Year Status activity.

It lists all outstanding requisitions, journal entry encumbrances and AR invoices that must be addressed to close the fiscal year. Specifically, this report includes requisitions in all statuses except complete, cancelled or denied; invoices in all statuses except complete or cancelled; payments in all statuses except denied, paid or cancelled; and journal entries in all statuses except complete or cancelled.

Check the report to see if you have a section entitled, “Resources that do not allow ending balance.” If you do, these resources have the Allow End Bal set to No (in the Finance-Setup-Chart of Accounts-Account Components activity). You cannot close the fiscal year until this resource’s expenditures and revenues are equal. You must set up a receivable or deferred revenue for the balance before you can close the fiscal year.

Once you print this report when there are no outstanding items, the Create Closing Journals task in the Fiscal Year Status activity will become available!

You must print the Fiscal Year End checklist from the System-Setup-Fiscal Year Status activity. Once there are no outstanding items to “unlock,” the Create Closing Journals task.

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Wrapping Up Fiscal Year End, Print the Fiscal Year End

Close Cash

Cash must be closed to ensure that no additional changes to cash are made.



3 Verify that all close dates have passed.

Tip

The software gives you control over when and at what level cash can be transferred. The “when” is controlled, as it always has been, through the cash and close dates in the Fiscal Year Status activities of the System module. The NEW “at what level” is controlled for the entire system in the System table or at the organization level in the JE Check Cash Closed Option field in the Organization record. The JE Check Cash Closed Option field and the matching field in the System table define at what level users will be stopped from posting journal entries that move cash after the cash is closed. Levels include “any cash,” “overall cash,” fund, SACS fund, and fund/resource.

So, if you attempt to create a journal entry (manual or by the system) after cash is closed for the level specified in the JE Check Cash Closed Option field in the Organization record, the journal entry will automatically be put on hold and a history record will be written giving the reason why it was not posted. For example, JE put on hold instead of posted. Trans Date set to 07/29/2010. Cash posting closed as of 07/31/2010.

For year end processing, you will want to leave the June close date blank until you are ready to close the fiscal year.

8-12 Wrapping Up Fiscal Year End, Close Cash

Create Closing Journal Entries

1 Go to the System-Setup-Fiscal Year Status activity, select the Create Closing Journal Entries task for the base fiscal year.

2 Go to the Finance-Fiscal-Journal Entries activity, check the subsequent closing journal entries.

3 Search for Closing JE Type for the base year.

4 Review each JE.

For SACS structures, if the fund balance offset account does not exist, the software checks to see if it would pass SACS validation. If it passes validation, the software automatically creates the account.

If it doesn't pass (meaning that this resource does not allow a fund balance), the software checks to see if the deferred revenue account (fund/resource/py plus the Deferred Revenue Object defined on the Ledger tab of the Organization record) passes validation. If it passes and the account exists, the software will use it. If it passes and the account does not exist, the software will automatically create it.

If it doesn't pass, the JE will not be created and you will receive an error message stating each fund/resource/py that has a fund balance.

Wrapping Up Fiscal Year End, Create Closing Journal Entries

Close the Fiscal Year

Tip

You can always use the Rollback Fiscal Year Close task to unpost and cancel the closing journal entries, remove any date fields that were set by the Close Fiscal Year task, and write a history record. Note, you will need to rerun the Fiscal15 report to “re-initiate” the Close Fiscal Year task.

1 Go to the System-Setup-Fiscal Year Status activity for the base fiscal year

2 Select Close Fiscal Year from the Task menu.

This task will post the closing journal entries, update the Fiscal Year Closed fields in the Fiscal Year record, and write a history record.

8-14 Wrapping Up Fiscal Year End, Close the Fiscal Year

Unpost and Delete Cash Roll Forward Journal Entry

If you used the Post Cash Roll Forward Journal Entry task, you will need to unpost and delete the journal entry.

1 Go to the System-Setup-Fiscal Year Status activity for the next fiscal year

2 Select Unpost and Delete Cash Roll Forward Journal Entry from the Task menu.

Wrapping Up Fiscal Year End, Unpost and Delete Cash Roll

Create and Post Starting Balance Journal Entries

Three types of accounts get starting balances set:

Assets

Liabilities

Starting Balance

A special type of JE transaction type StartBal is used to set the starting balances.

In general, the idea is to take the ending balance of the base year's account, and copy it to the beginning balance of the next year's account. If an account does not exist for the next year, the software automatically creates it.

Of course, there are some exceptions:

For receivable accounts, it is a little trickier. The base year’s receivables need to be tracked separate from the next year receivables. This is done by object codes as defined in the Ledger Setup tab of the Organization record: Prior Year Receivable Object and Current Year Receivable Object. In a nutshell, the software carries forward the base year’s “current” year objects into the next year's “prior year.”

For liabilities, the idea is basically the same. The liability objects for base and next year are also defined in the Organization record.

For starting balance, the software brings forward amounts that are in the fund balance account defined in the Organization record into the beginning balance account. Any other fund balance accounts are brought over into the same account for the next year. The software automatically checks to see if the journal entry is in balance by fund/resource/project year.

The Fiscal Year Status activity has several snapshots available for reviewing the starting balance journal entries.

8-16 Wrapping Up Fiscal Year End, Create and Post Starting Balance Journal Entries

Step by Step

1 From the System-Setup-Fiscal Year Status activity, open the next year.

2 Select the Create Starting Balance Journal Entries task.

This will create the JEs as stated above, update the necessary fields in Fiscal Year Status activity, write appropriate history records, regarding the JEs that were created, and create a history record that shows the JE numbers created for each fund.

3 Review the journal entries from the Finance-Fiscal-Journal Entries activity.

4 Post from the next year in the System-Setup-Fiscal Year Status activity.

Warning

It is important to note that the starting journal entries should only be posted and unposted from the Fiscal Year Status activity! If you create any of the starting journal entries manually from the Journal Entries activity, you will not be able to use the tasks in the Fiscal Year Status.

The starting balance journal entry must be in balance by fund/resources/project year. If any fund/resource/project year combinations in the starting balance journal entries are not balanced, a history message is written to the Fiscal Year Status activity, detailing which combinations were out of balance.

If all starting balance journal entries are balanced and do not contain any other errors, the software will write a history record stating, “Starting balance journal entries posted.”

Creating, posting and unposting starting balance journal entries from either the Fiscal Year Status or Journal Entries activity will write history records to the next year Fiscal Year Status record. If you post a starting JE from the Journal Entries activity, the history record will contain the phrase “FinJournalEntries.”

Tip

You cannot unpost a starting journal entry if the base year is closed.

Wrapping Up Fiscal Year End, Create and Post Starting Bal-

Create and Post Starting Balance Budget Revision

If you have already posted the Starting Balance journal entry, you may want to create and post a budget revision based on the journal entries you have created since posting the original starting balance.

This task allows you to create a journal entry automatically. It compares actuals to the revised budget, checking the starting balance account revised budget amount and adjusting the budgeted amount to equal the actuals amount. For example:

If you budgeted $5500 but the actuals are $0, then the budget revision will change the budget to $0.

If you budgeted $0 but the actuals are $5500, then the budget revision will change the budget to $5500.

If you budgeted $5000, but the actuals are $4000, then the budget revision will change the budget to $4000.

While the starting balance journal entry task creates one journal entry for each fund/resource/project year, this task creates only ONE journal entry for all funds with a comment of “Adjust revised starting balances to actual.” The source is Budget and the Type is BudRev. The task also creates a history record with the JE number in it, “JE# xxx was created.”

If there is no difference, no journal entry is created and a history record is written, “Starting balance budget revision was not created since budgeted amounts matched actuals.”

If you roll back the starting journal entry, this journal entry will also be rolled back.

8-18 Wrapping Up Fiscal Year End, Create and Post Starting Balance Budget Revision