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Two Basic Options Option A Closing Current Year Funds and Transferring Balances to New Year Funds Option B Opening New Year Funds Without Transferring Balances from Current Year Funds Option B Supplement 1

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two basic options
Two Basic Options
  • Option A

Closing Current Year Funds and Transferring Balances to New Year Funds

  • Option B

Opening New Year Funds Without Transferring Balances from Current Year Funds

        • Option B Supplement

1

slide2
Prior to beginning this process VERIFY that ALL Payroll processing for the prior year is completed and interfaced
  • Payrolls, Voids, Issues, Adjustments….
  • Deduction Checks….
  • TRS Reports – 373, 3, 489, On-Behalf, Supp Comp Reimbursements, TEA Health Insurance Fed Fund transfer……
  • EOY Accruals

2

exports
EXPORTS

Highly recommended that when the export prompt is displayed that you process the export

i.e., C:\RSCCC2K\Exports\Finance\EOFY\StepXX

3

steps 1 thru 5 options a or b
Steps 1 thru 5Options A or B
  • Deleting 1099 Work Table
  • Reversing Purchase Orders
    • Finance
    • Requisition
  • Mass Deleting Requisitions
  • Reconcile ALL Bank Accounts
  • Delete Current Year Amendments, including Unposted Transactions

4

deleting 1099 work table step 1
Deleting 1099 Work TableStep 1

Finance\\Utilities\\Create 1099 Work Table

5

reversing purchase orders step 2 finance
Reversing Purchase OrdersStep 2Finance

Finance\\Utilities\\Fiscal Year Processing\\Mass Purchase Order Reversal\\Reverse PO by Fund

6

reversing purchase orders step 2 requisition
Reversing Purchase OrdersStep 2Requisition

Requisition\\Utilities\\Mass Purchase Order Reversal\\Reverse PO by Fund

7

mass deleting requisitions step 3
Mass Deleting RequisitionsStep 3

Requisition\\Utilities\\Mass Delete Requisition Records\\Fund / Fiscal YR

8

reconcile all bank accounts step 4
Reconcile ALL Bank AccountsStep 4

Finance\\Maintenance\\Bank Reconciliation

9

delete current year amendments step 5
Delete Current Year AmendmentsStep 5

Finance\\CYR Amendment\\Delete Funds

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continued steps 6 thru 9 options a or b
continuedSteps 6 thru 9Options A or B
  • Copy Current Year Funds to New File ID
  • Delete all Deduction CK Transactions from HR – select both Unprocessed and Processed
  • Delete all Transfer Transactions from HR – select both Unprocessed and Processed
  • Create New Funds

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copy current year funds to new file id step 6
CopyCurrent Year Funds to New File IDStep 6

Finance\\Move Current to New File ID

12

delete all deduction ck transactions step 7
Delete All Deduction CK TransactionsStep 7

Human Resources\\ Payroll Processing\\Deducting Checks\\Mass Update / Delete\\Mass Delete

13

delete all transfer transactions step 8
Delete all Transfer TransactionsStep 8

Human Resources\\ Utilities\\Transfer Transaction Processing\\Mass Update / Delete\\Mass Delete

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create new funds step 9
Create New FundsStep 9

Finance\\Utilities \\Mass Change Account Codes\\Fund/Year

15

option a steps 10 11 and 12
Option A - Steps 10, 11, and 12
  • Closing the Funds (5XXX-8XXX)
  • Close the Month
  • Create new Accounts by Fund – copy balance sheet amounts to new year

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closing the funds 5xxx 8xxx step 10a
Closing the Funds (5XXX-8XXX) Step 10A

Finance\\Utilities\\Fiscal Year Processing\\Fund Close (5XXX-8XXX)

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close the month step 11a
Close the MonthStep 11A

Finance\\Utilities \\End of Month Closing

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create new accounts by fund step 12a
Create New Accounts by FundStep 12A

Finance\\Utilities\\Fiscal Year Processing\\Create New Accounts by Fund

19

option b steps 10 11 and 12
Option B - Steps 10, 11 and 12
  • Review Option B Supplement
  • Create New Accounts by Fund – NO amounts to new year
  • Close the Month

20

review option b supplement step 10b
Review OPTION B SupplementStep 10B

Allows for you to take the necessary steps to close your funds in a file ID created by Option B. Then to copy your balance sheet amounts to file ID C after establishing the New School Year Funds

21

create new accounts by fund step 11b
Create New Accounts by FundStep 11B

Finance\\Utilities\\Fiscal Year Processing\\Create New Accounts by Fund

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close the month step 12b
Close the MonthStep 12B

Finance\\Utilities \\End of Month Closing

23

moving budget to finance step 13
Moving Budget to FinanceStep 13

Finance\\Utilities\\Fiscal Year Processing\\Move Budget To Finance

Budget\\Utilities \\ Move Budget To Finance

24

update bank account fund groups step 14
Update Bank Account Fund GroupsStep 14

Finance\\Utilities\\Fiscal Year Processing\\Mass Change Bank Account Group By Fund

25

update fiscal years in hr distributions step 15
Update Fiscal Years in HR DistributionsStep 15

Human Resources\\ Utilities\\Mass Update\\Employee\\

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update hr fund to grant code table step 16
Update HR Fund to Grant Code TableStep 16

Human Resources\\ Tables\\Salaries\\Fund to Grant

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delete old funds from file id c step 17
Delete Old Funds from File ID CStep 17

Finance\\Utilities\\Fiscal Year Processing\\Delete Funds

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update user profiles step 18
Update User ProfilesStep 18

Finance\\Tables\\User Profiles

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update district finance options step 19
Update District Finance OptionsStep 19

Finance\\Tables\\District Finance Options\\Finance Options

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update district finance options step 1931
Update District Finance OptionsStep 19

Finance\\Tables\\District Finance Options\\Clearing Fund Maintenance

Right Click - ADD

31

update district hr options step 20
Update District HR OptionsStep 20

Human Resources\\ Tables\\District Human Resources Options

32

verify funds step 21
Verify FundsStep 21

Encouraged to print any and all reports you need to verify data

  • All Funds should exist with balances that where carried from the previous year
  • Revenue and expenditure amounts from the Budget System

33

exports step 22
ExportsStep 22

Finance\\Utilities\\Export By File ID

34

next year requisitions move next year tables to current step 23
Next Year RequisitionsMove Next Year Tables to CurrentStep 23

Requisition\\Utilities\\Move Next Year Tables to Current Year

35

move ny requisitions to cy requisitions step 24
Move NY Requisitions to CY RequisitionsStep 24

Finance\\Utilities\\Fiscal Year Processing\\Clear/Move Next Year Requisitions To CYR\\”MOVE”

36

verify finance information step 25
Verify Finance InformationStep 25

Encouraged to print any and all reports you need to verify data

  • Detail General Ledger
    • FIN1400
  • Batch Process Balance Error Listing
    • FIN1600
  • Outstanding Purchase Order Listing
    • FIN2150

37

verify requisition information step 26
Verify Requisition InformationStep 26

Encouraged to print any and all reports you need to verify data

  • Requisitions Pending Approval
    • REQ1050
  • Outstanding Requisition Report
    • REQ1100

38

duplicating auditor adjusting entries step 27
Duplicating Auditor Adjusting EntriesStep 27

The duplicate option allows users to duplicate an existing journal actual transaction from a previous year file ID to file ID C. The duplicate function only displays if the user is signed on to the previous year file ID associated with file ID C. For example, if previous year file ID is 4 for file ID C in the District Finance Options table, then the user can sign on to file ID 4, and the Duplicate option will be available. However, if the user signs on to file ID 3, then the Duplicate option will not be available.

39

slide40
If you have completed all steps successfully, then notify Human Resources that they can proceed with the First Payroll of the School Year checklist. The first payroll for the school year cannot be processed until the budget has been moved to Finance, and the clearing fund for the new fiscal year is created.

40

option b supplement
Option B Supplement

This process will take you through the necessary steps to close your funds in the file ID created in Option B and copy your balance sheet accounts and amounts to file ID C.

41

exports42
EXPORTS

Highly recommended that an Export by File ID is made for File ID C

i.e., C:\RSCCC2K\Exports\Finance\EOFY\OptBSuppl\

42

change to prior file id step 1
Change to Prior File ID Step 1

Finance\\File\\Change File ID\\

43

verify adjustments step 2
Verify AdjustmentsStep 2

Finance\\Reports\\Finance Reports\\Journal, Checks, Detail Ledgers

Verify that all adjustments in the funds to be closed have been entered. All of these adjustments should be made in the current period. You cannot close funds with entries in the next accounting period. You should note the file ID in the upper-left corner is the previous year’s file ID.

44

file id to close step 3
File ID to Close ?Step 3

If you do not want the closing entries to be reflected in this file ID but want to be able to copy the balance sheet accounts and amounts to file ID C that are influenced by the closing, then perform the following steps. If you want the closing entries to be reflected in this file ID, then proceed to Step 6.

45

copy file id 6 to new file id step 4
Copy File ID (6) to New File ID Step 4

Finance\\Utilities\\Move Current to New File ID

  • Select an alpha file ID in the File ID field.
  • Select the funds/FY to be copied to this new file ID.
  • Select Copy for each of the funds. Warning:  If you select Move, then the funds/fiscal years selected will be removed from the signed on file ID and will only exist in the file ID selected above.
  • Execute

46

change to new alpha file id step 5
Change to New Alpha File ID Step 5

Finance\\File\\Change File ID\\

47

close the month step 6
Close the MonthStep 6

Finance\\Utilities \\End of Month Closing

48

closing the funds 5xxx 8xxx step 7
Closing the Funds (5XXX-8XXX) Step 7

Finance\\Utilities\\Fiscal Year Processing\\Fund Close (5XXX-8XXX)

49

verify close step 8
Verify CloseStep 8

Finance\\Inquiry\\General Ledger Inquiry

General Ledger Inquiry, verify that all funds selected have closing entries for the 5XXX through 8XXX accounts. If not, perform the step above for those funds/FY.

50

verify account codes step 9
Verify Account CodesStep 9

Finance\\Tables\\Account Codes\\Funds

Verify the object/sub-obj code under Actual Fund Balance Obj.Sobj for each fund/FY where the balance sheet accounts will be updated by the next step. Make any changes as needed. .

51

create new accounts by fund step 10
Create New Accounts by FundStep 10

Finance\\Utilities\\Fiscal Year Processing\\Create New Accounts by Fund

  • Copy the funds/FY from the left to the right side of the screen and then select the boxes under 1, 2, 3, and 4. DO NOT SELECT 5, 6, 7, or 8 as you do not want to copy any of these amounts (zero or otherwise) to file ID C.  
  • Select the accounting period to use when posting the balance sheet accounts to file ID C.
  • Select Carry Forward Totals and then click Execute. The system will then copy the accounts and balances to file ID C. If the account already exists, it will not recreate it; however, it will add the amount to the balance that exists in the account for file ID C. If needed, the system will automatically make an offsetting entry to the fund balance object that is in the Actual Fund Balance Obj.Sobj column in the Account Code.

52

change to file id c step 11
Change to File ID (C) Step 11

Finance\\File\\Change File ID\\

53

verify finance information step 12
Verify Finance InformationStep 12

Finance\\Reports\\Finance Reports\\Journal, Checks, Detail Ledgers

Encouraged to print any and all reports you need to verify data

  • General Journal
    • FIN1150
  • Batch Process Balance Error Listing
    • FIN1600

54

slide55

Delete Alpha File IdStep 13Note:  If you did not create an alpha file ID and closed your previous year’s file ID, then do not perform this step.

Finance\\Utilities\\Delete File ID

55

rsccc finance end of fiscal year checklist

RSCCCFINANCEEnd of Fiscal YearChecklist

Sam.Kepple@esc16.net

Region XVI Education Service Center

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