Accounts Receivable Accrual Process For FY06

Accounts Receivable Accrual Process Specialized Subsystem Establishes Estimated Receivables Allows Complete audit trail Variety of reports Automatic generation and offset entries Transaction Table As Resource Page 1

Accounts Receivable Accrual Process Designates Amounts Due But Not Yet Received Post Against Receivables Generate Reports Must Use System Allows Setup and Payment in Proper Years 9229 FY06 to 9210 FY07

2004/2005 Accounts Receivable Cleanup By Friday, June 9, 2006 No Open Receivables Zero 9210 G/L Balance Clear Outstanding FCS Batches No Orphan Batches Open, Closed, Held for Audit See Closing Manual For Procedures Page 2

2004/2005 Accounts Receivable Cleanup Run “Open Receivables Report” Run in PRIXX, Only Task Done in FY05 Screen Print A/R Manual on Page 2/3 From/To Identify Remaining Items Run G/L Detail Report Run in FY06 From FIN Menu GLD120 Object 9210 See Year-End Closing Manual

2004/2005 Accounts Receivable Cleanup No Open Receivables/9210 G/L Balance Zero ***YOU’RE DONE*** No Open Receivables BUT G/L Balance Transactions Other Than AR System to 9210 Check G/L Activity JE to Credit 9210/Debit Appropriate Revenue Account Open Receivables BUT No G/L Balance AR Entries Booked as FY06 Receipts Check Cash Receipts Z out Receivable – System Automatically Fixes Books Journal if Setup and Receipt Accounts Differ JE to Credit 9210/ Debit to ER Setup Account Page 3

2004/2005 Accounts Receivable Cleanup Review Remaining AR Entries For Validity If Not Needed Z out to remove Release Batch If Needed Z to remove, Release Batch Re-establish as FY06 Receivable Done by June 9, 2006 Purge of FY05 Data - Early July Page 4

2005/2006 Estimated Receivables Year-End Closing Manual Guidelines Accounts Receivable Definition Page 5 Receivable Manual BDX/FAR Revenue Account Review Credit Memo’s From APY Transaction Table Resource For FY Page 5 4

2005/2006 Estimated Receivables Estimated Receivable (ER’s) Auto-Number Beginning Use for Date Reference Field is Any 6-digits Description of Who Owes and For What 26 Digit Code Valid in FY07 a Must See 5/11/06 Matrix Change Memo Amount Due Accrual Object 9229 Preset Open Until July 31, 2006

2005/2006 Estimated Receivables Changes Before July 31, 2006 Only For AR’s With No Activity Add New AR’s For Differences Done in Appropriate Fiscal Year (See Chart) Know Differences in Estimated Receivables G/L Balance 9229 Should Balance to Total Estimated Receivables Report Page 6

2005/2006 Estimated Receivables Far311 When Done For Fiscal Year Dates – 6/30/06 to 7/01/2006 Signature Page Combined A/R’s and PCL’s Fund Sort Review Report For Accuracy Page 7

2006/2007 Receivable(AR) Receipts Run Receivable Transaction Report R on Add Receivables/Setup Screen Reference Number Sort Update Often/Keep Handy Use AR Receipt or Cash Receipts Screen Print Page 8 in A/R Manual Payment Types Partial Final Z or Liquidate Do Not use C (Close)

2006/2007 Receivable(AR) Receipts Clear 06XXXX A/R’s in FY07 See Example Page 9 A/R Manual Changes to Existing FY06 AR’s Batching Procedures Same as Cash Receipts, Except…. Z’d Out Entries Create Batches No Transmittal Report for SCOE Page 10

Accrual Reports Reports Menu Screen Print Page 11 Receivable Transaction Report Lists All AR’s With Date, Descript, Acct and Ref Open Receivable Report List Open AR’s With Remaining Balances Receivables History Report AR Setups/Receipts by Ref # or Vendor Pages 11/12

Accrual Reports Established Receivables Financial Report AR Setups by Account Code Receivables Reconciliation Report AR Setups and Receipts by Account Code Receivables/Payables Financial Activity(FAR311) FY06 or FY07 Signature Page, Total AR’s/PCL’s, Fund Sort FAR311 Advantage/Review Report Page 12

2005/2006 Accounts Receivable Cross Reference Year-End Closing Manual District Responsibilities Vocational Ed - Federal Grants Mandated Costs (Only if Received) Do NOT Set Up PL Contracts – Money Due District Cafeteria – Due to/Due From Not permanent transfers Must balance Lottery – 3 rd /4 th Quarter Apportionment Entry Watch for Notice from Accountants Page 13

2005/2006 Accounts Receivable SCOE Responsibilities Either will make entries or provide spreadsheet for district entries Title I (Resource 3010) 80% to date Spec Ed PL (Resource 3310) 75% to date Lottery (Resource 1100/6300) Page 14

2005/2006 Accounts Receivable Reminders No Invalid FY07 Resource Use 5/11/06 Matrix Change Memo No JV’s, Cash JV’s, or Cash Transfers Use Accounts Receivable Accrual System (A/R) 9229 to 9210 System Entries Check For Z’d Batches FAR311 Signature Page/Combination of AR’s/PCL’s Break by Fund July 31, 2006 Last Date to Establish Page 14