Frequently Asked Questions
Fiscal Year End

Click on one of the questions below to find the answer.

What has to be done before the end of the current Fiscal Year?

What if I have two Divisions with different Fiscal End Year?

How and when do I run my Leave Liability Report?

Is there a Check List I can use?

How do I roll my Account Balances ?

Can I accrue my accounts payable if I am on a cash basis?

How do I Clear Beginning Balances before Re-Rolling Balances?

What has to be done before the end of the current fiscal year?

You must create the new fiscal year and run any time sensitive reports before the first

day of the new fiscal year.

What if I have Two Divisions with different Fiscal Year End?

You must create the new fiscal years and chart of accounts for both divisions at the same time.

How and when do I run my Leave Liability Report?

This procedure will spread the leave record from the employee master record, compute the value of leave from the balance due and current salary, and distribute the leave proportionately.

All employee leave records should be current and correct. The time to perform this operation is important in that it should be done before any leave is accrued or taken for the new year.

To spread leave from the Payroll master menu, selection the option for period end process. From the Period End menu, choose the spread leave liability option. Enter the printer identifier and press enter two times to accept the response. (This report may be sent to the spooler or directly to a printer.)

The screen shown below will appear.

“Spread Only Actives” gives you a switch to include or exclude inactive employees.

The answer for your site will be an administrative call. For this example, answer “Y” (yes). The next two fields are the beginning and ending dates for the spread liability procedure to use. Enter 07012003 in the “Allocation Based On” field and press enter.

Type in 06302004 in the “Thru” field and press enter. Enter “S” (sick) in the field title Leave Code to Print. Enter 100 in the Work Factor (Accrual) field. You may use any percentage you wish in this field. For example, if you entered 110, your leave liability would be 110% of its value shown on the computer.

This procedure can be processed for an individual payroll number, up to five payroll numbers, or for all payrolls by leaving the fields blank. Press F9 to start the process. When complete the screen below will appear asking you for the leave liability from last year.

Enter 17,852.35 and press enter. The report will print and the Period End menu will return. The information provided on the report will be used to make pre-closing entry/entries for leave liability in the general ledger.

Is there a check list I can use for the Fiscal Year End?

Check List

Task	Software Module	Suggested Date	Actual Date Done
Set Closing Account Definitions (This must be done before rolling control files)	General Ledger	First Day of the Last month of the fiscal year end.
Verify Office Manager Parameters (This must be done before rolling control files)	General Ledger	First Day of the Last month of the fiscal year end
Roll Control Files	General Ledger	First Day of the Last month of the fiscal year end
Roll Chart of Accounts (Set flags to delete unwanted account numbers before this procedure)	General Ledger	First Day of the Last month of the fiscal year end
Create Transaction File	General Ledger	The middle of the Last month of the fiscal year end
Enter Budgets	General Ledger	The middle of the Last month of the fiscal year end
Print/Verify Status of Open Purchase Orders (Need A report of outstanding purchase orders as of June30 for auditor)	Accounts Payable	On or Before the last day of the Old fiscal year.
Compare Open Purchase Orders in AP with GL Encumbrance Ledgers	General Ledger/Accounts Payable	On the last day of the old fiscal year
Roll Balances (Print Reports to confirm funds are in balance before and after rolling )	General Ledger	The First day of the New fiscal year.
Accrue Leave Liability	Payroll	The First day of the New fiscal year
Roll Excess Leave	Payroll	The First day of the New fiscal year
Clear Y-T-D	Payroll	The First day of the New fiscal year
Enter Salary Adjustments	Payroll	The First day of the New fiscal year
Print Annual Report	Utility Billing	The First day of the New fiscal year
Set Current Fiscal Year in Office Manager /System Parameters	ALL	The First day of the New fiscal year
Roll Budgets (After budget is adopted by governing body)	General Ledger	Any time after the last day of the Old fiscal year
Print Annual Reports (To balance and verify correctness before closing and again after closing for auditor)	General Ledger	Any time after the last day of the Old fiscal year
Create Auditor Files (After ledgers are closed for fiscal year)	General Ledger	Any time after the last day of the Old fiscal year
Perform Backup for Archiving	System Admin	Any time after the last day of the Old fiscal year

NOTE: Tasks that DO NOT apply to your site SHOULD BE SKIPPED.

How do I roll my Account Balances?

This step will roll the ending balances of all ledger records whose ledger types have been defined forward to the next year (asset, liability, restricted, equity, etc.). All other ledger types will be closed into the proper control account as defined in the Closing Account definition. This option can be run multiple times and each roll will update the beginning balances on the New Year. To roll the balances, select option #21 (Year-End) from the main General Ledger menu, then option #4 (Roll Balances). This step should be completed for the division and for all funds that apply to this fiscal year . Below is an example of how the questions should be answered.

Enter Year to roll ( ) <---- Enter your fiscal year that just ended

Division (   ) <---- Enter your division

Roll FUNDS - FROM: (   ) <---- leave blank for all

THRU: (   ) <---- leave blank for all

Are you sure you wish to roll the above year? Y

We are on a cash basis, however it is nearing the end of our fiscal year and our auditors want us to accrue our accounts payable for items brought a the end of this fiscal year. Can the system do this for a short period of time without us having to change to accrue accounting?

This option allows you to enter current invoices and accrue invoices at the same time.

From the account payable application main menu Select option #8 - User profile

From the user profile menu select option 1 - User profile set up

Select U = Update

Select any user that will be entering both the current and the previous year invoices.

See below screen print:

After updating the user profile go back to the accounts payable main menu. From the main menu of accounts payable select option 4 Invoices Then select option 2 File Maintenance.

Then C for create then enter the division you will be working in. the accounting period will be July/October for the current year. The accrual period will be June/September of the Prior year. The Packet Name field will appear next enter the name you wish (see below screen print)

After completing the above fields enter you will begin entering our invoices.

When you are entering the invoices there will a Prior Year field, you will enter P/Y in the field. (see the below screen print)

If the invoice is not a prior year invoice do not enter anything in the prior year question field.
See screen print below

After you have entered all your prior year invoices. Run the normal reports you require.

Once you are finished entering all prior year invoices.

From the account payable application main menu

Select option 8 - User profile

From the user profile menu select option 1 - User profile set up

Select U = Update

Select any user that will be both the current and the previous year invoices.

After updating the user profile go back to the accounts payable main menu. Then go to the general ledger application.

From the main menu option 12 Packets then to option 6 Packet Report and enter your accrual packet name and your will find your packet information.

It is always a good practice to have made a tape(adding) of the accrual invoices and match it against your packet report.

See the below screen print of a packet scroll.

The check process will be as normal.

How do I Clear Beginning Balances before Re-Rolling Balances?

NOTE: If your site encumbers funds with Purchase Orders or uses special Revenue or Expense control accounts in your General Ledger setup then it may be necessary for you to Clear the Beginning Balances from your “New Fiscal Year” Ledger before you “Re-Roll your Balances” from the “Old Fiscal Year” to the “New Fiscal Year” again. This is not at all necessary on your first “Roll Balances” operation but only applies to situations where you may need to “Re-Roll or Roll the Balances again” after the initial Roll.

To Clear the Beginning Balances follow the steps below:

From the General Ledger Master Menu, select option 52 ‘Utilities’, and press enter once in the Utilities menu select option 3 ‘Clear Ledger Balances’ and press enter.

CAUTION: Any time you access the Utilities menu you should precede with caution. If these Utility type programs are not executed properly (or exactly as instructed) the results can do serious harm to your system. You should only attempt to use these programs if you have detailed instructions or have have detailed training on the option you are attempting to run. If you have any questions at all regarding how to properly execute a Utility program to accomplish your goal you should contact customer support for help.

Once you pressed enter the screen below will display.

In this example: we have completed the screen’s run-time questions in order to clear the Beginning Balances so we may re roll them.

The Division field - entered our division for this example we entered 1

The Year field – entered the fiscal year to clear in this example it is 2005

Clear Beginning Balances?    Y   this is the information we want to clear.
Clear Period C/D Amounts?    N   we do not want to clear this information
Clear Period Encumbrances? N   we do not want to clear this information
Clear Current Budget Fields? N   we do not want to clear this information
Clear Budget Prep Fields?     N   we do not want to clear this information
Clear In-Process Amounts?    N   we do not want to clear this information
Which Period?   0 is the default which is blank for all

From Fund field: enter the fund you want to clear only or leave blank for all funds. For this example we want to clear fund 110 only.

Thru Fund field: enter the fund you want to clear only or leave blank for all funds. For this example we want to clear fund 110 only.

Special Note: You will need to answer the Division, Year and From/Thru Fund questions appropriately for your site or your situation. The examples shown in this screen print are only examples and may not apply to your site at all.

If you have any questions on this process please contact customer support for help.

Once you have completed this step, you can inquiry or report on the (Division / Year / Fund) that you cleared to verify that the Beginning Balances have been cleared.

Once you have verified that the Clear Beginning Balances operation was successful you are ready to Roll the Balances again from the “Old Fiscal Year” to the “New Fiscal Year”. The instructions for accomplishing that are included in our Fiscal Year End Documentation and there is no difference in accomplishing a Re-Roll than there is in accomplishing the first Roll.