Tech Fiesta 2006

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Tech Fiesta 2006
RSCCC BUSINESS Finance End of Fiscal Year
Checklist April 2006
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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

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• 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

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EXPORTS

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

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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

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Deleting 1099 Work TableStep 1

• Finance\\Utilities\\Create 1099 Work Table

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Reversing Purchase OrdersStep 2Finance
Finance\\Utilities\\Fiscal Year Processing\\Mass
Purchase Order Reversal\\Reverse PO by Fund
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Reversing Purchase OrdersStep 2Requisition
Requisition\\Utilities\\Mass Purchase Order
Reversal\\Reverse PO by Fund
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Mass Deleting RequisitionsStep 3
Requisition\\Utilities\\Mass Delete Requisition
Records\\Fund / Fiscal YR
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Reconcile ALL Bank AccountsStep 4
Finance\\Maintenance\\Bank Reconciliation
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Delete Current Year AmendmentsStep 5
Finance\\CYR Amendment\\Delete Funds
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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 IDStep 6
Finance\\Move Current to New File ID
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Delete All Deduction CK TransactionsStep 7
Human Resources\\ Payroll Processing\\Deducting
Checks\\Mass Update / Delete\\Mass Delete
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Delete all Transfer TransactionsStep 8
Human Resources\\ Utilities\\Transfer Transaction
Processing\\Mass Update / Delete\\Mass Delete
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Create New FundsStep 9
Finance\\Utilities \\Mass Change Account
Codes\\Fund/Year
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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
Finance\\Utilities\\Fiscal Year Processing\\Fund
Close (5XXX-8XXX)
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Close the MonthStep 11A
Finance\\Utilities \\End of Month Closing
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Create New Accounts by FundStep 12A
Finance\\Utilities\\Fiscal Year
Processing\\Create New Accounts by Fund
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Option B - Steps 10, 11 and 12

• Review Option B Supplement
• Create New Accounts by Fund NO amounts to new
  year
• Close the Month

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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

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Create New Accounts by FundStep 11B
Finance\\Utilities\\Fiscal Year
Processing\\Create New Accounts by Fund
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Close the MonthStep 12B
Finance\\Utilities \\End of Month Closing
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Moving Budget to FinanceStep 13
Finance\\Utilities\\Fiscal Year Processing\\Move
Budget To Finance Budget\\Utilities \\ Move
Budget To Finance
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Update Bank Account Fund GroupsStep 14
Finance\\Utilities\\Fiscal Year Processing\\Mass
Change Bank Account Group By Fund
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Update Fiscal Years in HR DistributionsStep 15
Human Resources\\ Utilities\\Mass
Update\\Employee\\
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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 CStep 17
Finance\\Utilities\\Fiscal Year
Processing\\Delete Funds
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Update User ProfilesStep 18
Finance\\Tables\\User Profiles
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Update District Finance OptionsStep 19
Finance\\Tables\\District Finance
Options\\Finance Options
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Update District Finance OptionsStep 19
Finance\\Tables\\District Finance
Options\\Clearing Fund Maintenance
Right Click - ADD
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Update District HR Options Step 20
Human Resources\\ Tables\\District Human
Resources Options
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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

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ExportsStep 22
Finance\\Utilities\\Export By File ID
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Next Year Requisitions Move Next Year Tables to
CurrentStep 23
Requisition\\Utilities\\Move Next Year Tables to
Current Year
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Move NY Requisitions to CY RequisitionsStep 24

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

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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

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Verify Requisition InformationStep 26

• Encouraged to print any and all reports you need
  to verify data
• Requisitions Pending Approval
• REQ1050
• Outstanding Requisition Report
• REQ1100

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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.

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• 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.

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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.

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EXPORTS

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

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Change to Prior File ID Step 1
Finance\\File\\Change File ID\\
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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 years file
  ID.

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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.

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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

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Change to New Alpha File ID Step 5
Finance\\File\\Change File ID\\
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Close the MonthStep 6
Finance\\Utilities \\End of Month Closing
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Closing the Funds (5XXX-8XXX) Step 7
Finance\\Utilities\\Fiscal Year Processing\\Fund
Close (5XXX-8XXX)
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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.

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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. .

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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.

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Change to File ID (C) Step 11
Finance\\File\\Change File ID\\
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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

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Delete Alpha File IdStep 13Note  If you did
not create an alpha file ID and closed your
previous years file ID, then do not perform this
step.
Finance\\Utilities\\Delete File ID
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RSCCCFINANCEEnd of Fiscal YearChecklist

• Sam.Kepple_at_esc16.net
• Region XVI Education Service Center

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