The Sub-Ledger Year-End Processing allows you to establish individually for each sub-ledger in the new year the opening balances for commitments, expenditures and budgets. The system will also zero specified accumulation buckets at the start of the new year.
This program can be rerun as many times as necessary to finish your year end. Each rerun will back out the last runs balances created in the close and will bring forward the new balances that result from this close. The program contains the logic to do this process without affecting the balances in the new year that are the result of new year data entry and period closes. The exception to this is the bucket balances. Any bucket balances brought forward during this process will overwrite the current bucket balance in the new year. These bucket balances do not normally affect the integrity of the accounts balances. You should carefully review the setup of each S/L control and be sure that you understand the use of the buckets so that you can chose the options on year end to meet your intended use. We suggest that you document your use and the year end answers used so that you can use them in future years. This will help you maintain the integrity of your S/L setup.
Note: The program will not create any accounts in the new year if the account in the old year has been flagged as deleted and the balance of the deleted account is zero. Any asset/liability account that contains a zero balance and is set as deleted will not be created in the new year. Any revenue/expense account flagged as deleted will not be created in the new year unless it has an outstanding commitment. In this case the account will be created in the new year because the account has a non-zero balance.
Enter Year to Process
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Enter the year on which you wish to run a year end.
Current Year Is: XXXX
New Year Is: XXXX
Are the Years Correct?
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Enter 'Y' to confirm that the current year and new year are the correct years to use in the close out. The current year is the year whose balances are to be brought forward into the new year. If these do not correspond to the year to be closed and the expected year into which new balances are to be placed, you should respond with 'N' and abort the process.
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Enter 'N' to abort the process at this point.
You may close out all or some funds in a multi-fund GL. If fund accounting is not active, all funds will be closed simultaneously and treated as a single fund.
Enter Sub-ledger Type
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Enter the two digit sub-ledger identification code.
Carry Forward Budgets
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Enter 'Y' to bring the total budget forward into the new year. If budgets have been entered in the new year, the value of the old year budget will be added to the new year budget.
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Enter 'N'. The budget remains unchanged in the new year.
Carry Forward Opening Commitments
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Enter 'Y' to bring the opening commitment forward into the new year.
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Enter 'N'. The opening commitment remains unchanged in the new year.
Carry Forward Opening Expenses
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Enter 'Y' to bring the opening expenditure forward into the new year.
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Enter 'N'. The opening expenditure remains unchanged in the new year.
Carry Forward Deleted
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Enter 'Y' to bring deleted sub-ledgers into the new year.
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Enter 'N' to leave the deleted S/L in the old year.
Create New Year Accounts With Zero Balance?
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Enter 'N' if you want this program to ignore S/L accounts that contain a zero balance in the old year. If you select this option the program will not create these accounts in the new year if they do not already exist.
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Enter 'Y' if you want zero balance accounts created in the new year.
Note: This option will allow you to delete accounts in the new year after you create your chart of accounts and stop this program from recreating them during this run.
Cycle Number to Zero
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Enter (one at a time) the cycle numbers whose buckets are to be zeroed in the new year. Look at the bucket definition in the control record for this Sub Ledger to determine which buckets should start the new year at zero. Your answer to this question does not affect the old year. It tells the program which bucket balances should be brought forward and which ones should not.