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Year End Obligations

Year End Obligations. Year End Training May 21, 2007. Summary. Overview of Ledgers Data Review of Actuals & Encumbrances Obligation Accruals Business Rules Automated Process – GL-15 Manual Process Actual/Encumbrance Journals. Summary. Review Helpful Queries & Allocations

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Year End Obligations

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  1. Year End Obligations Year End Training May 21, 2007

  2. Summary • Overview of Ledgers • Data Review of Actuals & Encumbrances • Obligation Accruals • Business Rules • Automated Process – GL-15 • Manual Process • Actual/Encumbrance Journals D. Brothwell, CPSLO

  3. Summary • Review Helpful Queries & Allocations • Abnormal Balances • Negative Expenditures • Closing Revolving Fund • Rolling Forward Budget D. Brothwell, CPSLO

  4. CSU Data Structure D. Brothwell, CPSLO

  5. Obligations Accruals • Business Rules for year end required reporting • State–GL Account 3010 – Accounts Payable for ALL funds will include Posted Vouchers, Obligations AND Encumbrances • FIRMS record type 10 for object code 201001 will include Posted Vouchers and Obligations…NOT Encumbrances • FIRMS record type 15 for object code 201001 will be Year to date encumbrances (Accounting Period 1-12) • FIRMS record type 16 for object code 201001 will be Project to date encumbrances (Accounting Period 0) D. Brothwell, CPSLO

  6. Accounts Payable to the State includes Encumbrances for Governmental Funds D. Brothwell, CPSLO

  7. Year end Obligations • Goods and services received but not yet invoiced (no voucher posted) must still be “obligated” • For activity received within the Finance 8.4 application and automated process will create the journals to liquidate the encumbrance portion and record the AP Accrual • Manual journals will need to be done for items that cannot be identified by the automated process • Utilities • Retention • etc D. Brothwell, CPSLO

  8. CSUGL015 – Year End Obligations • Automated process within PeopleSoft • Can be run in report mode only until ready to actually process journals • Journals are created for Items received on Purchase Orders not yet Invoiced • Liquidates Encumbrance as of June 30 • Creates a July 1 Encumbrance Journal to re-establish encumbrance • Creates actuals journal as of June 30 • Reverses July 1 D. Brothwell, CPSLO

  9. CSUGL15 CSU Year End Obligations – Run Control D. Brothwell, CPSLO

  10. CSUGL015 – Year End Obligations – Output (Report) D. Brothwell, CPSLO

  11. CSUGL15 Overview D. Brothwell, CPSLO

  12. CSUGL15 Configuration • Accounting Entry Definitions • Define the new records • CSU_YEC_ACT_LN • CSU_YEC_ENC_LN • Journal Template • YECACTOBL • YECENCOBL • Journal Source • OBL • Journal Mask • YEOBL • YAOBL D. Brothwell, CPSLO

  13. Manual Obligations of Encumbered Amounts • Liquidate obligation portion of encumbrance • Effective June 30, 2007 • Encumbrance Journal to Ledger KK_DTL_ENC • Record the amount as an accounts payable accrual – obligation • Effective June 30, 2007 • Actuals Journal to Ledger ACTUALS • Re-encumber the obligation • Effective July 1, 2007 • Encumbrance Journal to Ledger KK_DTL_ENC • Reverse the Accounts Payable Accrual • Effective July 1, 2007 • Actuals Journal to Ledger Actuals D. Brothwell, CPSLO

  14. Manual Obligations of Encumbered Amounts • Manual Obligation of Encumbered Amounts require THREE journals • Journals to the actuals ledger can be set up as reversing journals • This journal will record the Accounts Payable accrual AND reverse it Journals to the Actuals Ledger can be set up as reversing Journals. D. Brothwell, CPSLO

  15. Manual Obligations of Encumbered Amounts • Encumbrance Journals are required to liquidate the encumbrance June 30 and to re-encumber it July 1 Encumbrance Journals are processed with the Ledger Group ACTUALS so that they will be edited by Combo Edits and controlled by open and closed periods D. Brothwell, CPSLO

  16. Manual Obligations of Encumbered Amounts • Journals to Liquidate the encumbrance can NOT be set up as reversing. • However, the software will let you do it. D. Brothwell, CPSLO

  17. Manual Obligations of Encumbered Amounts • Summary • Three journals are required • 1 reversing journals for the accounts payable accrual (June 30, 2007) and the reversing accrual (July 1, 2007) • 2 encumbrance journals • One dated June 30 to liquidate the obligation portion of the encumbrance • One dated July 1 to re-encumber the obligation portion of the encumbrance • For the Encumbrance journal dated July 1, use the copy journal with reversing sign functionality D. Brothwell, CPSLO

  18. Reimbursed Activity • Another “Encumbrance” Journal • In order to zero out Reimbursed Activity at year end, for amounts related to encumbrances, an encumbrance journal needs to be processed eliminating all encumbrance amounts from Reimbursed Activity D. Brothwell, CPSLO

  19. Query to Identify Reimbursed Activity Encumbrances D. Brothwell, CPSLO

  20. FIELDS D. Brothwell, CPSLO

  21. Criteria D. Brothwell, CPSLO

  22. Having Criteria D. Brothwell, CPSLO

  23. Output Download to excel to prepare encumbrance journals (6-30-2007) and reversing journal (7-1-2007) D. Brothwell, CPSLO

  24. Don’t forget • There is no such thing as a REVERSING ENCUMBRANCE journal • You need to do two – One dated June 30 and one dated July 1 • Use the Commitment Control hyperlink on the journal to do encumbrance journals to the ACTUALS ledger • Do NOT do journals to the KK_DTL_ENC ledger • The offset to encumbrances MUST BE accounts payable – FIRMS Object Code 201001 • Can set up a unique campus value D. Brothwell, CPSLO

  25. CSU Data Structure D. Brothwell, CPSLO

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