The annual Fiscal Year-End process ensures all budgetary, purchasing, and accounting data is accurately rolled into the new fiscal year. This checklist provides a step-by-step guide to completing each task in the correct order to prevent data discrepancies and support a smooth financial transition into the new year.
1. Navigate to Budgeting/General Ledger > District Budget Planning > Scenario tab.
2. Create a scenario and select the next fiscal year.
3. Click Create or click Merge Scenarios.
See the optional steps below while editing the scenario.
Click Search to view specific accounts represented in the budget. You can also select the Show Element Descriptions check box to display element names/descriptions in your search.
Click % Update to adjust the amounts in the Budget and/or Spent columns by a specific percentage.
Click Add New Budget Line to create new budget strips.
Click Copy Scenario to create an identical scenario.
Click Update Budgets to update the Current Budget and Spent amounts and add new budget strips.
1. Click on the Budget Mangers tab.
2. Select the next fiscal year from the pull-down.
3. Select a Manager.
4. Enter a budget strip by element codes.
5. Enter the Planned Budget amount for the Budget Manager to allocate.
6. Select Allow Over if the manager is allowed to budget over the Planned Budget amount.
7. Click Enter/Return to add the row, then click Save.
1. View assigned budget(s) via Budgeting/General Ledger > Campus/Department Budget Planning > Budgets tab.
2. Select the correct fiscal year, and select Outstanding from the Budget Status pull-down.
3. Enter a budget into the Planned Budget column and/or enter an itemized budget in View Breakdown.
4. Click Submit.
1. View submissions on the Budget Managers tab via Budgeting/General Ledger > District Budget Planning > Budget Manager tab.
2. Select the applicable fiscal year.
3. Click View Budgets in any row to see a breakdown of the Budget Manager’s submitted budget.
4. Click Approve or Deny.
1. Add payroll budgets via Budgeting/General Ledger > Payroll Budget Planning.
2. Select the applicable Scenario, Pay Types, and if you’d like to Use the payroll data from the current fiscal year.
3. Click Run.
1. Edit the budget scenario via Budgeting/General Ledger > District Budget Planning > Scenarios tab.
2. Click View to open the applicable budget scenario.
3. See the optional steps below while editing the scenario.
Click Search to view specific accounts represented in the budget. You can also select the Show Element Descriptions check box to display element names/descriptions in your search.
Click % Update to adjust the amounts in the Budget and/or Spent columns by a specific percentage.
Click Add New Budget Line to create new budget strips.
Click Copy Scenario to create an identical scenario.
Click Update Budgets to update the Current Budget and Spent amounts and add new budget strips.
4. Edit the Planned Budget amounts not submitted by Budget Managers.
a. Directly edit the Planned Budget column or edit/add an itemized list in the View Breakdown pop-up.
5. Edit Planned Budget amounts submitted by Budget Managers.
a. Click View Manager Detail.
b. Directly edit the Planned Budget column or edit/add an itemized list in the View Breakdown pop-up.
1. Click Adopt Zero Dollar Budgets to unofficially adopt all budget strips to be used in the new fiscal year.
2. Enter a Journal Date then click OK.
1. Click Adopt Unofficial Budgets to unofficially adopt the Submitted Budget amounts.
2. Enter a Journal Date and click OK.
1. Run the report via Budgeting/General Ledger > Expenditure/Revenue Report.
2. Review the Budgeted column to see the unofficial adopted budgets in the new year.
1. Navigate to Purchasing/Accounts Payable > Invoices or Internal Account Invoices.
2. Select the current fiscal year.
3. Create a new batch including Batch Name and Batch Type for the end of the year.
4. Select the next fiscal year.
5. Create a new batch including Batch Name and Batch Type for the beginning of the year.
1. Navigate to Setup > AP Invoices.
2. Select the current fiscal year.
3. Select all applicable invoices and click Expend Checked Invoices to create an AP EOY Invoice Expended journal OR click Void Checked Invoices.
1. Navigate to Setup > Purchase Orders or Internal Purchase Orders.
2. Roll open purchase requests.
3. Click the Open Requests tab and select the next fiscal year from the Roll Into pull-down.
4. Select the Close check box(es) for POs that are to be closed, then click Close Checked Requests.
5. Select the Rollover check box(es) for POs that are to be rolled, then click Rollover Requests.
1. Navigate to Setup > Purchase Orders or Internal Purchase Orders.
2. Click the Pending Requests tab and select the next fiscal year from the Roll Into pull-down.
3. Select the Close check box(es) for pending purchase requests that are to be closed, then click Close Checked Requests.
4. Select the Rollover check box(es) for pending purchase requests that are to be rolled, then click Rollover Requests.
1. Navigate to Setup > Purchase Orders or Internal Purchase Orders.
2. Click the Templates tab and select the next fiscal year from the Roll Into pull-down.
3. Select the Delete check box(es) for PO templates that need to be deleted, then click Delete Checked Templates.
4. Select the Rollover check box(es) for the PO templates that are to be rolled, then click Rollover Templates.
1. Navigate to Setup > Purchase Orders or Internal Purchase Orders.
2. Click the Rolled Requests tab and select the next fiscal year from the Roll Into pull-down.
3. Select the Reroll check box(es) to re-roll the POs, then click Reroll Requests.
1. Navigate to Setup > Budgets.
2. Click the Expense Budgets tab and select the current fiscal year.
3. Select the Roll check box(es) to choose which budgets will be rolled over, then click Rollover Budgets.
1. Navigate to Setup > Budgets.
2. Click the Revenue tab and select the current fiscal year.
3. Select the Roll check box(es) to choose which budgets will be rolled over.
4a. Click Rollover Budgets to finalize this process for the selected budgets.
a. To rollover accrued balances and all other revenue budgets together, select the Rollover Accrued Balances check box. Then, click Rollover Budgets.
4b. Click Rollover Accrued Balances Only to rollover Accrued Balances only.
1. Navigate to Setup > Budgets.
2. Click the Internal tab and select the current fiscal year.
3. Select the Roll check box(es) to choose which budgets will be rolled over.
4a. Click Rollover Budgets to finalize this process for the selected budgets.
a. To rollover accrued balances and all other revenue budgets together, select the Rollover Accrued Balances check box. Then, click Rollover Budgets.
4b. Click Rollover Accrued Balances Only to rollover Accrued Balances only.
1. Navigate to Setup > Budgets.
2. Click the Budget Maintenance Template tab, and select the current fiscal year.
3. Select the Rollover check box(es) to roll select templates, then click Rollover Checked Templates.
4. Select the Delete check box(es) to select templates to be deleted, then click Delete Checked Templates.
1. Navigate to Setup > Close Accounts.
2. Select the current fiscal year.
3. Select the account(s) to close from the Close Account(s) pull-down.
4. Optional: Select the Fund and select the Project Detail check box to close down accounts at the project level.
5. Select the Into Account from the pull-down. This account reflects the sum of the debits minus the sum of the credits entered above and is credited for the resulting amount.
6. Click Create Manual Journals.
7. Click the link to view the manual journal draft via Budgeting/General Ledger > Manual Journals or Internal Account Manual Journals.
8. Review the manual journal and edit, as needed, then click Submit.
1. Navigate to Setup > District Initial Account Balances and/or Internal Initial Account Balances.
2. Select the next fiscal year from the Roll into Fiscal Year pull-down.
3. Choose the Categories to set by selecting from the check boxes.
4. Optional: Select the Include Expenditures, Revenue, Encumbered check boxes to include said accounts upon generating the report and rolling accounts.
5. Click Get Accounts.
6. Navigate to Budgeting/General Ledger > Trial Balance to review and confirm results.
a. Choose the current fiscal year and confirm that balances match.
7. Return to the Initial Account Balances screen and click Submit.
8. View the rollover of account balances on the Journal Report via Budgeting/General Ledger > Journal Report.
a. Select the next fiscal year.
b. Select Journal Source: AB Initial Account Balance.
c. Uncheck Limit Results and click Search.
You are done. Great job!