RSCCC END OF THE FISCAL YEAR CLOSE

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2006-2007
RSCCC BUSINESS Simplify the Finance End-of-Year
Process August 2007
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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

It is recommended that you export both the
current and previous file IDs before deleting the
1099 work table, since an export prompt is not
offered and since the 1099 work table includes
transactions from two file IDs. If no dates are
specified, then all 1099 work table transactions
will be deleted.
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Reversing Purchase OrdersStep 2Finance or
Requisition
Finance\\Utilities\\Fiscal Year Processing\\Mass
Purchase Order Reversal\\Reverse PO by
Fund Requisition\\Utilities\\Mass Purchase Order
Reversal\\Reverse PO by Fund
Backup Before Preview (Process) Screen
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Mass Deleting RequisitionsStep 3
Requisition\\Utilities\\Mass Delete Requisition
Records\\Fund / Fiscal YR
Backup After Preview (Process) Screen
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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
Backup Before Preview (Process) Screen
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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
No Prompts for Backup during Delete
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Delete all HR Transfer TransactionsStep 8
Human Resources\\ Utilities\\Transfer Transaction
Processing\\Mass Update / Delete\\Mass Delete
xxxxxxx
xxxxxxx
No Prompts for Backup during Delete
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Create New FundsStep 9
Finance\\Utilities \\Mass Change Account
Codes\\Fund/Year
No Backups Before or After Preview (Process)
Screen
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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)
If there are any errors on the report, then click
Cancel to return to the Fund Close 5XXX-8XXX
window without closing any funds. Correct the
errors and perform the close funds process again.
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Backup Before Preview (Process) Screen
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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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Backup Before Preview (Process) Screen
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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 districts to take the necessary steps
  to close your funds in a file ID created by
  Supplement to Option B. Then to copy your balance
  sheet amounts from that file ID to the current
  file ID C anytime into the New School Year

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Create New Accounts by FundStep 11B
Finance\\Utilities\\Fiscal Year
Processing\\Create New Accounts by Fund
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Backup Before Preview (Process) Screen
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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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Backup Before Preview (Process) Screen
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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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Backup Before Preview (Process) Screen
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Update Fiscal Years in HR DistributionsStep 15
Human Resources\\ Utilities\\Mass
Update\\Employee\\
Backups After Preview (Process) Screen
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Update HR Fund to Grant Code TableStep 16
Human Resources\\ Tables\\Salaries\\Fund to Grant
Remove the grant code from all funds and fiscal
years that are to be deleted Add the grant code
to all new funds and fiscal years moved from
Budget
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Delete Old Funds from File ID CStep 17
Finance\\Utilities\\Fiscal Year
Processing\\Delete Funds
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Backup After Preview (Process) Screen
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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
If your fiscal year is July through June and the
ten-month employees are paid from September
through August, this date should be September.
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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
Once Executed - NO option to cancel - must
restore backup from Finance
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Move NY Requisitions to CY RequisitionsStep 24

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

Backup After Preview (Process) Screen
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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 7
  for file ID C in the District Finance Options
  table, then the user can sign on to file ID 7,
  and the Duplicate option will be available.
  However, if the user signs on to file ID 6, 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 7
• 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 (7) to New File ID Step 4
Finance\\Utilities\\Move Current to New File ID
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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)
When the Fund Close processing is completed, a
Fund Close Report is displayed. Review the
reports Click Print to print a copy of the
report. If the report is correct, then click
Process. All selected funds are closed. If
there are any errors on the report, then click
Cancel to return to the Fund Close 5XXX-8XXX
window without closing any funds. Correct the
errors and perform the close funds process again.
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Verify CloseStep 8
Finance\\Inquiry\\General Ledger Inquiry

• Using 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
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Backup Before Preview (Process) Screen
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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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