CENTRAL SUSQUEHANNA INTERMEDIATE UNIT Application: Fund Accounting

Transcription

1 CENTRAL SUSQUEHANNA INTERMEDIATE UNIT Application: Fund Accounting Step-by-step Instructions 2013 Central Susquehanna Intermediate Unit, USA

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3 Table of Contents Introduction... 1 Liquidating Encumbrances... 2 Invoice Information... 3 Liquidating the Encumbrance... 3 Partial Liquidation... 5 Partial Liquidation: Multiple Account Codes... 7 Canceling Encumbrances Central Susquehanna Intermediate Unit, USA

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5 INTRODUCTION This Step-by-Step Guide will cover: Liquidating encumbrances Partial liquidation of encumbrances Partial liquidation for several account codes Canceling an encumbrance Revised: 03/07/ Central Susquehanna Intermediate Unit, USA Page 1

6 LIQUIDATING ENCUMBRANCES To liquidate encumbrances for one or multiple accounts, click the Rapid Liquidate Expenditures button on the UPDATE SCREENS >TRANSACTION MASTER. The Rapid Liquidate Expenditures option can be used to liquidate encumbered expenditure transactions (type E). When you liquidate encumbered expenditures, a type L transaction record is automatically created. The type L transaction can be added to an existing batch or you can create a new batch If you partially liquidate transactions, a new type E batch and Type E transaction record(s) are created automatically for the remaining amounts to be re-encumbered. When type E transactions are liquidated, a link is established between the original Encumber Expenditure Transaction (type E) and the Liquidated Expenditure Transaction (type L). An entry is made in the Link to trans fields of both the Encumber Expenditure Transaction record and the Liquidated Expenditure Transaction record. Liquidation Date: Required. Enter the Liquidation Date. Remit ID: By default, when you TAB to this field, the Vendor s highest number Remit ID displays automatically, if one exists; if necessary, select a different Remit ID from the drop-down list box. Revised: 03/07/ Central Susquehanna Intermediate Unit, USA Page 2

7 Invoice Information Invoice Number: Enter the invoice number, up to 16 characters. Amount Type: Required if the entry in the 1099 Type field is '1099MISC'. Select the 1099 Amount Type. Invoice Date: Enter the date of the associated invoice. Total Amt: Enter the total amount that you are paying. Total S/H: Enter the total amount of the shipping and handling. Liq Batch: Displays the batch number in which the liquidations are being placed. Right-click to use a different batch. Reencumb Batch: Displays the batch number in which the reencumbrances will be placed. Right-click to use a different batch. Check account: Select a checking account, established in the CHECKING ACCOUNTS DIRECTORY, through which this liquidation should be processed. 1099s: Type: Any 1099 information in the VENDOR MASTER will automatically populate this field. If the VENDOR MASTER does not contain 1099 information but the transaction should be considered for 1099, select the 1099MISC or the 1099G Type for the transaction. If necessary, manually update the vendor's record, since changing the 1099 Type on this screen will NOT update the Vendor Master. Leave blank for no 1099 Type. If you specify a 1099 Type as 1099G, be certain that the first four characters of the description are the four-digit year of the refund and that the value is not less than 1980 or greater than the year of the current date; otherwise, a message displays to alert you to change the individual transaction description before you can save the record. Amount Type: Required if the entry in the 1099: Type field is 1099MISC. Select the 1099 amount type. Payment Type: Select a payment type from the drop-down list box. By default, if Direct Deposit or Credit Card is selected, the Non-Negotiable checkbox is also selected. The vendor's preferred payment type is entered automatically; change as needed. If Credit Card is selected as the Payment Type, a Credit Card Parameters Directory record must be active for the specified fiscal year of the transaction and the specified vendor's directory record must have Credit Card selected as the Preferred Payment Type. The Invoice Date and Invoice Number are required for a Credit Card Payment Type. Non-Negotiable: Display ONLY. If 'Direct Deposit' is selected as the Payment Type, the Non- Negotiable checkbox is also selected to prevent the direct deposit payment from being printed as a check, and to exclude it from the CREATE POSITIVE PAY FILE process. Payable: Display Only. Displays a check mark in this checkbox if the transaction has been marked as a payables transaction during the Transfer Encumbrances process. Liquidating the Encumbrance To liquidate the currently displayed encumbrance, click Save. You will be asked where you want to save the Liquidated Expenditure transactions: Revised: 03/07/ Central Susquehanna Intermediate Unit, USA Page 3

8 To start a new batch, simply select that option and click OK; a new batch is automatically assigned for you. If you want to Use existing batch, select that option to enable the drop-down list box. Select the batch in which to save the liquidation records. Revised: 03/07/ Central Susquehanna Intermediate Unit, USA Page 4

9 Partial Liquidation When entering a liquidation which is less than the total for the PURCHASE ORDER, you will be asked if the liquidation is a partial. If you anticipate receiving the remaining items in the PURCHASE ORDER, click the Yes button. If you click the Yes button, the amount of the liquidation is established and the full encumbrance will be relieved. The remaining encumbrance amount will be established in the Reencumber Batch. Revised: 03/07/ Central Susquehanna Intermediate Unit, USA Page 5

10 Click the No button if you do not anticipate receiving remaining items or the items came in at a lower price. The full encumbrance is relieved. Any money remaining will be available for future use. Revised: 03/07/ Central Susquehanna Intermediate Unit, USA Page 6

11 Partial Liquidation: Multiple Account Codes In this example, we are doing a partial liquidation for several account codes. When liquidating a partial payment where several account codes are involved, and the amount can be spread evenly over those account codes, enter the amount in the Actual Cost field. The following message will display: If this is a partial liquidation and you anticipate receiving the remaining items in at a later time, click the Yes button. If you do not anticipate receiving the remaining items from the PURCHASE ORDER, click the No button, which will then remove the remaining encumbrance for the PURCHASE ORDER. The system automatically calculates the amount to be liquidated and re-encumbered proportionally for each account code. Revised: 03/07/ Central Susquehanna Intermediate Unit, USA Page 7

12 A message displays reminding you that: Click Yes to continue. Select either Start a new batch OR Use existing batch (and select the existing batch number). The Batch date displays the Liquidation Date you specified. Revised: 03/07/ Central Susquehanna Intermediate Unit, USA Page 8

13 Since this is a partial liquidation, a message also displays for the Re-encumber batch asking you to Start a new batch OR Use existing batch. A second message displays the batch number that will be used. Canceling Encumbrances You can cancel an encumbrance in the same screen you use to liquidate encumbrances. To locate the appropriate PURCHASE ORDER, click the Find button. You can also click the Query button. Liquidation Date: Required. Enter the Liquidation date. Check account: Select a checking account, established in the CHECKING ACCOUNTS DIRECTORY, through which this liquidation should be processed. In the grid on the far left, a checkbox is available in the Can (cancel) column. Click in the checkbox to select it. (A check mark displays in a selected check box.) Click the Save button. A message, similar to the following, displays. The message prompts you to answer Do you want to liquidate the account(s)? Revised: 03/07/ Central Susquehanna Intermediate Unit, USA Page 9

14 Click the Yes button to assign a batch number for the zero liquidation. Revised: 03/07/ Central Susquehanna Intermediate Unit, USA Page 10