ANUA 2011, Ft. Lauderdale INTRO General Ledger ANUA 2011, Ft. Lauderdale education solutions development inc.

ANUA 2011, Ft. Lauderdale SLIDES General Ledger Structure General Discussion General Ledger

ANUA 2011, Ft. Lauderdale SLIDES Adding Account From Account Maintenance Using batch job – Mass creation of account Use account template Go to account search and save as file and create a account template Biz 2.0 new features Create using existing accounts. Create using previous year accounts. Create using account elements Assign responsibility code for accounts while creating accounts. General Ledger

ANUA 2011, Ft. Lauderdale SLIDES Year End Processing Set up New Fiscal Year – Run from Old fiscal year –Step 1: Finance New Fiscal Year Setup –Step 2: Finance Build New Year Accounts –Step 3: Year End Balance Rollover General Ledger

ANUA 2011, Ft. Lauderdale SLIDES Step 1 – Finance New Fiscal Year Setup After running the above process, review the following on the Parameter screen: Next document number for various transactions like Requisition No, Purchase Order Number, Journal Enter number etc and make changes as required. Overwrite Option First Time Overwrite Recreate General Ledger

ANUA 2011, Ft. Lauderdale SLIDES Step 2 – Finance Build New Year Accounts After this process is run, if user adds an account in the current fiscal year, it will be automatically added to the next fiscal. If Requisition/PO Entry needs to be open for the next year without Override each time, select the appropriate value for Requested Budget from DDL. If the process needs to be rerun to create accounts, select recreate option for Budget and Responsibility Group also. General Ledger

ANUA 2011, Ft. Lauderdale SLIDES Step 3 – Year End Balance Rollover This process will rollover current balances to the next year (Balance Sheet accounts). This process can be run multiple times, the last time after Year End Close Process is run. For Student Activity Fund, the process will compute closing balance for each activity and then move it to the next year in user defined beginning balance account. The outstanding encumbrances for the Student Activity are also moved to an other user defined account. General Ledger

ANUA 2011, Ft. Lauderdale SLIDES Step 4 – Budget Preparation & Budget Roll over to GL Enter Budget using Mass Entry of Budget screen Budget Request System Transfer Salary/Benefit budget from Position Control / Payroll Import from Excel sheet Step 4 – Budget Rollover to GL (General Ledger). General Ledger

ANUA 2011, Ft. Lauderdale SLIDES Close out the old year Lock out Requisition Entry Purchase Requisitions Warehouse Requisitions This can be done before the last day of the fiscal year. Run from Old fiscal year –Step 5: Roll Forward Invoices –Step 6: Roll Forward Purchase Orders –Step 7: General Ledger Year End Close –Step 8: Warehouse Catalog Ledger Rollover Create Year End Adjustment Entries in FY period = 98. Lock out old fiscal year on the Parameter screen. General Ledger

ANUA 2011, Ft. Lauderdale SLIDES Step 5 – Roll Forward Invoices Recognize Expenses in the old year and Defer Disbursement to the next year. This process can be run multiple times. A special task can be created for Year End Invoices (to be roll forwarded) in the old year. A special task can be created for Previous Year Invoices (roll forwarded from previous year) in the new year. A special Accounts Payable accounts can be set for previous year invoices. Year End Invoices to be roll forwarded to the next year should be entered before running the Purchase Order Roll Forward process. A Dummy Financial Institution Account can be created to mark Year End Invoices as paid in the old year. General Ledger

ANUA 2011, Ft. Lauderdale SLIDES Step 6 – Roll Forward Purchase Orders Select Purchase Orders by account element values or purchase order number range. Option to create budget revision transactions in the next year to cover the roll forward encumbrances. Option to roll forward purchase orders with no outstanding encumbrances. Option to close encumbrances in the old year (zero dollar final payment). Fiscal Year of purchase order changed to the new year. General Ledger

ANUA 2011, Ft. Lauderdale SLIDES Step 7 – General Ledger Year End Close Create Closing Journal Entries in FY Period = 99 Must Create special closing accounts: Revenue Expenditures Run for selected funds. Select different masks for different fund by running the process multiple times. Example: For some funds, the closing entries can be at Fund level and other funds, the closing entries can be at Fund and Source of Fund level. The Year End Balance Rollover process must be run after this process to bring forward the new fund balance. General Ledger

ANUA 2011, Ft. Lauderdale SLIDES Step 8 – Warehouse Catalog Ledger Rollover Warehouse Ledger is year oriented. Run Job When Old Year Processing is Complete – Rollover process creates New Year ledger – Year-end accumulator values retained – Beginning Balance values are Old Year Ending Balances – After Rollover, previous year transactions update current Beginning Balance Transaction Records Always Year-oriented General Ledger

ANUA 2011, Ft. Lauderdale SLIDES Opening the New Fiscal Year On Parameter Screen Unlock the new fiscal year. Set new fiscal year as Logon Default year. General Ledger

ANUA 2011, Ft. Lauderdale SLIDES Accrual and Reversal of JE Setup up Accrual in the current Year (FY 2011) Use Journal Entry to search on previous year journal use the Reverse option on the Journal Entry screen. General Ledger