CENTRAL SUSQUEHANNA INTERMEDIATE UNIT Application: Fund Accounting

Transcription

1 CENTRAL SUSQUEHANNA INTERMEDIATE UNIT Application: Fund Accounting Transfer Encumbrances Outstanding Acct. Rec. Invoices Step-by-step Instructions 2012 Central Susquehanna Intermediate Unit, USA

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3 Table of Contents Introduction... 1 Evaluating Outstanding Revenues... 2 Transfer Outstanding Revenue Central Susquehanna Intermediate Unit, USA

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5 INTRODUCTION This Step-by-Step Instruction reviews: Evaluating Outstanding Encumbered Revenue Transferring Accounts Receivable Invoices Accounts Receivable Journal Worksheet Revised: 11/14/ Central Susquehanna Intermediate Unit, USA Page 1

6 EVALUATING OUTSTANDING REVENUES This report will give you a list of all outstanding A/R Invoices. Run Options: Fiscal Year: Enter the Fiscal Year. If you are processing this for 08/09 you will fill in 09. Cut-Off Date: The cutoff date will automatically populate to the last date in the fiscal year. Remember you can run this report throughout the year, so change the date if appropriate. Report A/R only: You can select this checkbox option to include only accounts associated with invoices. Fund: Select one or multiple funds, or leave blank to select all. Sort Order: You have several different sort options to run this report. This example is in date order. However, when looking for specific account codes, you may want to choose account order. Revised: 11/14/ Central Susquehanna Intermediate Unit, USA Page 2

7 Review this report and liquidate any receivables that you do not anticipate receiving. Regenerate the report and make several copies. After the transfer is complete you cannot reproduce this report. Revised: 11/14/ Central Susquehanna Intermediate Unit, USA Page 3

8 TRANSFER OUTSTANDING REVENUE We suggest you run the process as Report only; no transfer to review the invoices that you want to transfer. The totals on this report should match the Outstanding Revenues report. Fiscal Year: Enter the fiscal years you are transferring From and To. Invoice Range: If left blank, this process/report will include all outstanding invoices that are available for transfer. You may enter specific Invoice numbers and transfer Invoice Ranges individually. Revised: 11/14/ Central Susquehanna Intermediate Unit, USA Page 4

9 Review this report and compare it to the Outstanding Revenues report. The totals should be equal. If these are the receivables that you want to transfer, perform the process again and select the Report and Transfer option. A message prompts you to complete the transfer. Click Yes to complete the process. A list of available checking accounts displays on the screen; choose the appropriate account and click Accept. You will then receive information on the creation of the batch. You can start a new batch or use an existing one. If starting a new batch, the default date is the last date of the fiscal year. The first batch is created to zero out the liquidations. Revised: 11/14/ Central Susquehanna Intermediate Unit, USA Page 5

10 Another batch notice displays. The transactions in this batch will reestablish the encumbrances in the new year. The batch date will typically default to 07/01/11; however, explicitly for this scenario, the default date is 07/02/11 to reserve the 07/01/11 date for beginning balances. This program automatically sets up an Accounts Receivable JOURNAL WORKSHEET. Enter the Journal#. The date defaults to the last day of the fiscal year that is just ending. Revised: 11/14/ Central Susquehanna Intermediate Unit, USA Page 6

11 Click OK to continue. The Encumbrance Transfer Revenue Report displays. This report includes a note indicating that you must either post or delete the JOURNAL WORKSHEET created during the transfer process. The batch numbers that were created for the previous and new fiscal years are also included. A message explains that the process has been finished. To locate the journal worksheet, select UPDATE SCREENS > JOURNAL WORKSHEET. Revised: 11/14/ Central Susquehanna Intermediate Unit, USA Page 7

12 Post this journal worksheet into the previous fiscal year and then reverse into the current fiscal year. The journal worksheet can remain open until it has been determined to close the books for the previous fiscal year. In the example, the account is used as the receivable. You may change or add receivable accounts as needed. Revised: 11/14/ Central Susquehanna Intermediate Unit, USA Page 8