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Business Services Fiscal Year End Meeting

Business Services Fiscal Year End Meeting. May 11, 2017 Boyd Arthur’s Auditorium 9:00 AM – 12:00 PM. THE WAYNE COUNTY REGIONAL EDUCATIONAL SERVICE AGENCY

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Business Services Fiscal Year End Meeting

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  1. Business ServicesFiscal Year EndMeeting May 11, 2017 Boyd Arthur’s Auditorium 9:00 AM – 12:00 PM THE WAYNE COUNTY REGIONAL EDUCATIONAL SERVICE AGENCY Board of Education • James S. Beri • Kenneth E. Berlinn • Mary E. Blackmon • Lynda S. Jackson • James Petrie • Randy A. Liepa, Ph.D., Superintendent

  2. Welcome Business Service Consultants: • Sharon Bourland Field Services: • Mikki Boury • Becky Meadors •Jewell Clair • Julie Pearson •Brett Forgach CDOT Consultants: •Karen Keliher• Carol McNamara •Peggy Liepa• Sherry Williams •Angela Schulz •Joy Sommers Manager, Business Service Systems: •Bob Gerrity

  3. Agenda • Welcome • Payroll Fiscal Year-End Planning • ACA Tracking and Reporting Updates • Closing Out the Year-Module by Module • Audit Considerations • FID • Things You Didn’t Know About SMART • Website & Workshops • Questions

  4. Payroll Fiscal Year-End Planning • First Time Processing? Need to Sign Up for Payroll Workshop • Follow Procedure!! • Refer to Documentation!!!!!! • AE-SCR ALWAYS ‘Y’ for All Frequencies • NEVER change AJ-SCR • Contract Pay Stopped Automatically by HED 005, if Set-Up Correctly!

  5. Q & A

  6. ACA Tracking & Reporting Opening 2017 Calendar Year Roll Forward 2016 Data 1094-C Electronic Filing Status for 2016

  7. FINANCE MODULE PROCESSING AT YEAR-END

  8. Vendor & Ledger Accounts and Vendors being added after 7/1/2017 are added to 17-18, but available in 16-17 if selected Accounts & Vendors can be deleted before close; Vendors will not be carried forward, accounts go away as deleted (no history lost) Delete using mass capability or run reports in LOGI and delete individually

  9. LOGI Reports Shared Reports / Fiscal Year End Folder Vendor YTD and Prior YTD Zero Accounts Without Activity 2 Years Check Listing for Auditor Cash Receipts for Auditor

  10. 2016-2017 Requisitions June 30th 2017 All Requisitions should be approved and turned into a Purchase Order for 2016-2017 year by June 30, 2017 2016-2017 Requisitions cannot be used after June 30th, but can be cloned and year changed to 2017-2018 Receipts can be keyed for Purchase Orders in 2016-2017 until the year is closed Check Requests can be entered into 2016-2017 and 2017-2018

  11. Open Purchase Report SMART Transaction Analysis Select By Purchase Order Select Status Open Press the List Button Sort by PO Number

  12. July 1st 2017 Only 2017-2018 Year is Available to Use Next Fiscal Year uses the forecast (proposed) Budget if you are doing Budget checking

  13. PO Maintenance You can Close a Purchase Order in PO Maintenance for……. This Year’s PO’s NFY PO’s

  14. Purchase Order to Accounts Payable Logic Check Requests come over to AP in the year they are keyed in the PO System PO Receipts come over to the batch in the year in which the receipt is dated

  15. Transaction Analysis 2017-2018 is visible in TA when PO System is Opened, or on 7/1/2017 When the books are Closed, the files are taped and the Fund Balance is calculated. No other updates occur. Proposed Budget in 17-18 is the Forecast Budget from 16-17 JE Download and Activity Download comes from TA

  16. Journal Processing in Both Years Payroll entries will post to the appropriate year Payroll Accrual-Hourly and Contract and Benefits Accrual for Teachers; Use Payroll Encumbrance and Hourly Accrual Report (See Documentation) Do Accruals in 16-17 and Reversals in 17-18

  17. Journal Processing

  18. Prepaid Checks & AP Processing After 7/1/17 Only Check Processing and Prepaids for 17-18 To Void Checks go to 2017-2018 after 7/1/2017 Batches of AP can be posted for both years; Use pull down to select the year

  19. Accounts Receivable Batches can be Entered for 16-17 and 17-18 Post to correct year for Billing and Cash Receipts by selecting the correct year from the dropdown

  20. Budget Until Close you are still in 16-17 Update Forecast if working on 17-18 Roll over Original after close

  21. Fixed Assets Handout takes you Step-by-Step through process Journals go to Journal Module in SMART to be posted as JE JE will go to Prior Year if Closed If redone it overwrites JE if it has not been posted Adjustments go as soon as you hit Post Don’t close FA until after Audit

  22. Fixed Asset Maintenance Do NOT make assets out of items that are Not in Service – CIP Only Journal Entry to the books is required DR CIP, CR Contra Expense Asset Split and Asset Value Adjustment Call Consultant with any problems when entering Fixed Assets

  23. Close When Convenient Make sure Fringes, Payroll, Cash Receipts, AP, and 16-17 Original Budget are Correct 15-16 Journals must be done by July 1, 2017 Everything else can be done as a Prior Year Journal Entry

  24. Close Processing-Before Close Let RESA Consultant know you want to close Consultant will check integrity of ledger and work with you to correct any errors District will run Pre-Close Reports

  25. Reports to Print Prior to Close Open PO List Open Invoice Report Trial Balance Payroll Encumbrance Any other reports your District uses

  26. Fiscal Close Program RESA Consultant will have a copy made and run the Close Process RESA Consultant will Check Integrity and Turn System Back Over to District Run Post Close Reports

  27. Reports to Run Immediately Following Close Open PO Report Open Invoice Report Trial Balance Prior Year Trial Balance Current Year Budget / Responsibility (Optional) Financial Statements Prior Year (Optional)

  28. Record Retention CutePDF – errors when downloading; Now use Bullzip.com for free Microfiche cannot be relied upon for Record Retention, or Reports, any longer because it can not be reproduced EJES Available – use TSO Id http//host.resa.net:50663/EJESWEB/ Costs for Microfiche have increased to $4.90 per fiche (this amount can rise to $6.19 per fiche based on lowest quantity)

  29. You’re Back in Business You are able to work during the Year End Close Process except for approximately 1 hour for RESA to tape and close the books

  30. Audit Considerations Fixed Asset Schedules Budget, Vendor, or Ledger Tracking Reports Comparison of Original Budget to YTD Budget All Journal Entries done during year – SMART and Audit Extract (EJ’s, FJ’s, ER’s) GASB 68 Report for Auditors

  31. Audit Considerations Security Reports GASB 54 Fund Balance Designation Internal Service Fund for Full Accrual Accounting for District Wide Statements UAAL Expense should Equal Revenue; verify liability and receivable correct Asset Impairments

  32. Audit Considerations PAR vs Semi-Annual CERT; single Cost Objective-CERT; Multiple Cost Objective-PAR Food Service Indirect Costs can only include first $25,000 of Purchase Service Contract (Reference MDE Website) To Book Indirect Costs to Cafeteria Fund DR 21-611-9990-000-000-8500 CR Revenue to General Fund 10-625-9990-000-000-0000 JE to Book Transfer to Cafeteria Fund DR 11-625-8110-000-000-0000 CR 20-611-0000-000-000-0000

  33. SMART Audit Extract From Main SMART Menu Finance / Reports*****(Access) Audit – Ledger Export to Excel Provides Extract of Entire Ledger Original Budget YTD Budget Description YTD Actual Remaining Balance

  34. Target Close Date for All DistrictsJuly 31, 2017

  35. FID If you use Program or Cost fields for District only, use mass FID update to make them all zeros New Function code for Pension Liability-594 so make account 9-2-594 FID due 11/1 and consistent with Financials or State Aid Withheld Use the FID Checkoff List and the Program Manual

  36. Things You Didn’t Know About SMART

  37. Things You Didn’t Know About SMART PO Module View / District Setup / Available Accounts / Action / Refresh Available PO Module – User Defaults can be over-ridden by User A/P Import Batch or Single Invoice; Clone Batch (but not over fiscal year) JE Import Excel / Consolidate Accounts Control & Integrity – Close Month Security Reports – Check for Terminated Employees / Contractors

  38. Things You Didn’t Know About SMART SMART Check and Wage Report – 941 Tax Filing Report PAYVAL – Filtering & Threshold Benefit – Looks to account active at date of posting Salary Schedule – Can import from Spreadsheet Payroll Trailer Checks – Import into A/P Contact Information on eEmployee Employee Reclass – Adjust Amounts on Worksheet

  39. Website & Workshops WWW.RESA.NET Documentation http://www.resa.net/services/computerconsortium/ Workshops http://www.solutionwhere.com/wayneresa/cw/main.asp

  40. Payroll Workshops Class #: Friday, May 19, 2017 Friday, June 9, 2017 9:30AM – 4:00PM 9:30AM – 4:00PM Friday, May 26, 2017 Thursday, June 15, 2017 9:30AM – 4:00PM 9:30AM – 4:00PM Friday, June 2, 2017 Friday, June 23, 2017 9:30AM – 4:00PM 9:30AM – 4:00PM Please Schedule classes at: http://www.solutionwhere.com/wayneresa/cw/main.asp

  41. ORS Workshops Class #5817: Friday, May 12, 2017 Friday, August 11, 2017 9:30AM – 4:00PM 9:30AM – 4:00PM Friday, June 16, 2017 Friday, September 8, 2017 9:30AM – 4:00PM 9:30AM – 4:00PM Friday, July 14, 2017 Friday, October 13, 2017 9:30AM – 4:00PM 9:30AM – 4:00PM Please Schedule classes at: http://www.solutionwhere.com/wayneresa/cw/main.asp

  42. REP Workshops Class #5955: DUE JUNE 30, 2017 Friday, May 19, 2017 Thursday, June 15, 2017 9:30AM – 4:00PM 9:30AM – 4:00PM Friday, May 26, 2017 Friday, June 23, 2017 9:30AM – 4:00PM 9:30AM – 4:00PM Friday, June 2, 2017 Wednesday, June 28, 2017 9:30AM – 4:00PM 9:30AM – 4:00PM Please Schedule classes at: http://www.solutionwhere.com/wayneresa/cw/main.asp

  43. Benefits Workshops Class #5818: Friday, May 12, 2017Friday, August 11, 2017 9:30AM – 4:00PM 9:30AM – 4:00PM Friday, June 16, 2017 Friday, September 8, 2017 9:30AM – 4:00PM 9:30AM – 4:00PM Friday, July 14, 2017 Friday, October 13, 2017 9:30AM – 4:00PM 9:30AM – 4:00PM Please Schedule classes at: http://www.solutionwhere.com/wayneresa/cw/main.asp

  44. SMART Salary Schedule Workshops Class #6061: Wednesday, August 16, 2017Wednesday, August 30, 2017 9:00AM – 4:30PM 9:00AM – 4:30PM Wednesday, August 23, 2017Wednesday, September 6, 2017 9:00AM – 4:30PM 9:00AM – 4:30PM Please Schedule classes at: http://www.solutionwhere.com/wayneresa/cw/main.asp

  45. FID Workshops Class #6060: Friday, September 22, 2017Thursday, October 26, 2017 9:30AM – 4:00PM 9:30AM – 4:00PM Friday, September 29, 2017Friday, October 27, 2017 9:30AM – 4:00PM 9:30AM – 4:00PM Friday, October 6, 2017 Monday, October 30, 2017 9:30AM – 4:00PM 9:30AM – 4:00PM Friday, October 13, 2017 Tuesday, October 31, 2017 9:30AM – 4:00PM 9:30AM – 4:00PM Friday, October 20, 2017 Wednesday, November 1, 2017 9:30AM – 4:00PM 9:30AM – 4:00PM Please Schedule classes at: http://www.solutionwhere.com/wayneresa/cw/main.asp

  46. Next Client Meeting Calendar Year End Meeting Thursday, November 2, 2017 9:00 AM – 12:00 PM Boyd Arthur’s Auditorium Always Check the RESA Website for Upcoming Meetings: http://www.resa.net/services/computerconsortium

  47. Q & A

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