Internal Initial Account Balances
The last step in the end of the year rollover process is to roll the Trial Balance.
This step can take place after transactions have begun in the next fiscal year, but the Trial Balance will not be useful until account balances are rolled.
Once Initial Balances have been rolled, use the Trial Balance report and the Expenditure/Revenue Report to compare the ending balances of the current fiscal year to the next fiscal year. Both of these reports can be found under the Budgeting/General Ledger menu.
1. From the Setup menu, click Internal Initial Account Balances under the Rollover sub-heading.
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. The categories selected will display in the report after clicking Get Accounts.
4. Select the Include Expenditures, Revenue, Encumbered check box to include said accounts upon generating the report and rolling accounts. Leave the check box blank or clear the check box to exclude expenditure, revenue, and encumbered accounts when rolling accounts.
5. Click Get Accounts.
The Categories selected display along with the Account number, the Ending Balance of the current fiscal year, and the Initial Balance of the next fiscal year.
At the bottom of the page, the Current Page Totals is listed. The totals here will change as you sift through pages. In the image shown, the Current Page Totals is just for page 1.
The Grand Totals show the actual grand total for the Ending Balance and the Initial Balance. The number here is not affected by a change of the page.
If you use any of the filters to change the data, the Current Page Totals and Grand Totals will change. See Additional Features for more information on how to use filters.
6. Click the Submit button when all changes have been made.
Once submitted, changes are final. If you try to Get Accounts from the Initial Account Balances screen, you will receive an error message.
Navigating from page to page can be done using the Prev and Next buttons. To skip to a page, type the page number in the text box and press Enter.
Click the Excel icon in the Export section to export Initial Account Balances to an Excel spreadsheet.
Click the Printer icon in the Export section to print Initial Account Balances.
Click Filters to breakdown data.
a.To add more than one filter to a column, click the green plus sign.
b.To delete an additional filter, click the red minus sign.
c.For additional filtering options, click the gray arrow for a filter pull-down.
You can also sort simply by clicking on any of the header names with double black arrows. Click once for ascending results, click twice for descending.