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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

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Two Basic Options

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  1. 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

  2. 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

  3. EXPORTS Highly recommended that when the export prompt is displayed that you process the export i.e., C:\RSCCC2K\Exports\Finance\EOFY\StepXX 3

  4. 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

  5. Deleting 1099 Work TableStep 1 Finance\\Utilities\\Create 1099 Work Table 5

  6. Reversing Purchase OrdersStep 2Finance Finance\\Utilities\\Fiscal Year Processing\\Mass Purchase Order Reversal\\Reverse PO by Fund 6

  7. Reversing Purchase OrdersStep 2Requisition Requisition\\Utilities\\Mass Purchase Order Reversal\\Reverse PO by Fund 7

  8. Mass Deleting RequisitionsStep 3 Requisition\\Utilities\\Mass Delete Requisition Records\\Fund / Fiscal YR 8

  9. Reconcile ALL Bank AccountsStep 4 Finance\\Maintenance\\Bank Reconciliation 9

  10. Delete Current Year AmendmentsStep 5 Finance\\CYR Amendment\\Delete Funds 10

  11. 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 11

  12. CopyCurrent Year Funds to New File IDStep 6 Finance\\Move Current to New File ID 12

  13. Delete All Deduction CK TransactionsStep 7 Human Resources\\ Payroll Processing\\Deducting Checks\\Mass Update / Delete\\Mass Delete 13

  14. Delete all Transfer TransactionsStep 8 Human Resources\\ Utilities\\Transfer Transaction Processing\\Mass Update / Delete\\Mass Delete 14

  15. Create New FundsStep 9 Finance\\Utilities \\Mass Change Account Codes\\Fund/Year 15

  16. 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 16

  17. Closing the Funds (5XXX-8XXX) Step 10A Finance\\Utilities\\Fiscal Year Processing\\Fund Close (5XXX-8XXX) 17

  18. Close the MonthStep 11A Finance\\Utilities \\End of Month Closing 18

  19. Create New Accounts by FundStep 12A Finance\\Utilities\\Fiscal Year Processing\\Create New Accounts by Fund 19

  20. 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

  21. 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

  22. Create New Accounts by FundStep 11B Finance\\Utilities\\Fiscal Year Processing\\Create New Accounts by Fund 22

  23. Close the MonthStep 12B Finance\\Utilities \\End of Month Closing 23

  24. Moving Budget to FinanceStep 13 Finance\\Utilities\\Fiscal Year Processing\\Move Budget To Finance Budget\\Utilities \\ Move Budget To Finance 24

  25. Update Bank Account Fund GroupsStep 14 Finance\\Utilities\\Fiscal Year Processing\\Mass Change Bank Account Group By Fund 25

  26. Update Fiscal Years in HR DistributionsStep 15 Human Resources\\ Utilities\\Mass Update\\Employee\\ 26

  27. Update HR Fund to Grant Code TableStep 16 Human Resources\\ Tables\\Salaries\\Fund to Grant 27

  28. Delete Old Funds from File ID CStep 17 Finance\\Utilities\\Fiscal Year Processing\\Delete Funds 28

  29. Update User ProfilesStep 18 Finance\\Tables\\User Profiles 29

  30. Update District Finance OptionsStep 19 Finance\\Tables\\District Finance Options\\Finance Options 30

  31. Update District Finance OptionsStep 19 Finance\\Tables\\District Finance Options\\Clearing Fund Maintenance Right Click - ADD 31

  32. Update District HR OptionsStep 20 Human Resources\\ Tables\\District Human Resources Options 32

  33. 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

  34. ExportsStep 22 Finance\\Utilities\\Export By File ID 34

  35. Next Year RequisitionsMove Next Year Tables to CurrentStep 23 Requisition\\Utilities\\Move Next Year Tables to Current Year 35

  36. Move NY Requisitions to CY RequisitionsStep 24 Finance\\Utilities\\Fiscal Year Processing\\Clear/Move Next Year Requisitions To CYR\\”MOVE” 36

  37. 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

  38. 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

  39. 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

  40. 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

  41. 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

  42. EXPORTS Highly recommended that an Export by File ID is made for File ID C i.e., C:\RSCCC2K\Exports\Finance\EOFY\OptBSuppl\ 42

  43. Change to Prior File ID Step 1 Finance\\File\\Change File ID\\ 43

  44. 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

  45. 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

  46. 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

  47. Change to New Alpha File ID Step 5 Finance\\File\\Change File ID\\ 47

  48. Close the MonthStep 6 Finance\\Utilities \\End of Month Closing 48

  49. Closing the Funds (5XXX-8XXX) Step 7 Finance\\Utilities\\Fiscal Year Processing\\Fund Close (5XXX-8XXX) 49

  50. 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

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