accounts payable accruals for fy20 - scoe

Virtual Workshop via Zoom

June 18, 2020

Sonoma County Office of Education

Accounts Payable Accruals for FY20

AP ACCRUAL SETUP FOR YEAR END CLOSING 2019-2020 2

TABLE OF CONTENTS

Preparing for Year End Closing Page

Understanding the Accrual Process & Important Dates………………………….. 3

Clear Prior Year AP Accruals……………………………………………………….. 4

Resolve Vendor Requisitions……………………………………………………… 6

Outstanding Vendor Requisitions Report………………………………………….. 8

Release, Carryover, Accrue Documents…………………………………………... 10

Manual Accruals of Due To/From Government Entities………………………….. 12

Year End Closing Process

Review Fiscal15 Fiscal Year End Checklist………………………………………. 13

Year End Closing Activity…………………………………………………………… 14

Working and Clearing the Year End Closing List………………………………... 16

Accrual Option………………………………………………………………….…….. 17

Carryover Option………………………………………………….…………………. 20

Release Option………………………………………………………..…………….. 22

Complete Option …………………………………………………….……...………. 23

Review Errors………………..…………………………………………………..….. 23

Year End Closing Tips………………………………………………………………. 24

Examples……………………………………………………………………………… 28

AP Payments for 2019/2020 in FY21 without using Year End Closing……….. 35

Final Reports

Fiscal 15 Fiscal Year End Checklist (Must be Cleared) …………………………. 36

Ledger02 Receivables/Liabilities Activity ………………………………………….. 36

Final Reports Must be signed by LEA Authorized Signature

Submit to your SCOE Advisor

After FY20 Closed Resolving Vendor Requisitions……………………………………………………... 37


Understanding the Accrual Process

The goal of year-end accrual process is to recognize revenues and expenses in the period in which it was incurred, regardless of when payment is received or paid, to ensure accurate presentation of revenues and expenses. Accrual basis accounting records revenues and expense at the time when services or sales are made rather than when cash is actually paid or received.

As we get closer to the end of the fiscal year, districts should be reviewing requisitions that do not have a status of Complete, Cancelled or Denied. It is extremely important that you do so before the books are closed, since all requisitions must be either closed or processed through Year End Closing activity.

Escape Year End Process Overview

What you should be working on Now:

● Clear All Prior Year Accruals

● Run PY Ledger02 Receivables/Liabilities Activity Report

● Resolve Any Outstanding Items

● Resolve Unposted Journal Entries and Budget Transfers

What you should be working on in July:

● Work the Year End Closing List

● Clear all items on the Fiscal15 Fiscal Year End Checklist

● Final Fiscal15 submitted by LEA to SCOE Advisor

● Final Ledger02 Submitted by LEA to SCOE Advisor

CAUTION: Escape does allow you to create batches after the last June

AP and Deposit dates through June 30. There are multitude of

implications if you create a batch during the select time, therefore, it is

recommended not to create any new batches until after July 1 cash roll.

Last AP Check Processing June 24, 2020 by noon

Last June Deposit June 23, 2020 by 4:30 pm

DO NOT create AP batches between June 25 and June 30

DO NOT Create AR Receipts batches between June 24 and June 30


Clear All Prior Year Accruals 9210 and 9510 Object Codes

Review that there are no balances remaining in 9210 Prior Year Receivables and 9510 Prior Year Payables Object Codes. Run the Fiscal02 Account Summary by Object-Balance or Fiscal03 Account Transaction Detail Object-Balance. These were Payables and Receivables set up last fiscal year in 9229 and 9259 that rolled to 9210 and 9510.

Go to Finance – Reports – Fiscal – Fiscal02 or Fiscal03

Closing Year = 2020 {2019/2020}

Unposted JE? = Yes – Include unposted JE

Assets and Liabilities = Yes – Include – change Object filtering

Object = 9210,9510 (use comma no space)

Click Go to generate the report

If there are balances you will need to do research to determine if items should be cleared or moved to the next fiscal year. Review the Ledger02 Receivable/Liabilities on next page.

Create Favorites

to Save Time

NOTE: If there are NO balances you are good to go! Skip to next step.


Review PY Payables/Receivable for More Detail

Run the Ledger02 Receivables/Liabilities Activity for more detail on prior year pending items. This report shows journal entry activity by requisition number, account receivable invoice number, or journal entry number as it relates to account receivable and/or liability setup and clearing.

Go to Finance – Reports – Ledger – Ledger02

Closing Year = 2019 {2019/2020}

A/R or A/P? = Both is default or change to A/R or A/P if desired

Cleared Items? = No – Do NOT Show Cleared Items

JE Source? = Yes – Include all JE Sources

Unposted JE? = Yes – select unposted Journal Entries

Click Go to process report

You now have a list of pending items that need to be reviewed and determined if need

to be cleared or reprocessed through Year End Processing

Clear a Requisition or Invoice, manually complete


Resolve Vendor Requisitions

There are a few different methods you can use to review outstanding Vendor Requisitions prior to using

the Year End Closing activity. Review in Vendor Requisitions activities or the ReqPay02 Requisition

Listing Report.

Go to Finance – Requisition – Vendor Requisitions

Enter the search criteria:

Fiscal Year: 2020 {2019/2020}

Only Uncompleted: Yes

Click Go to generate the list to review

Create Search

Favorites to

Save Time!


Review List of Outstanding Vendor Requisitions

Sort by Outstanding

o Click on the column header to sort

Open Requisitions to review

o Small amounts remaining most likely did not have the last payment flagged as Final

Example list of outstanding vendor requisitions:

Manually Complete if not receiving goods or services prior to June 30

o Go to Tasks to select Manual Complete


Review Outstanding Vendor Requisition Report

Another option to review outstanding vendor requisitions is the ReqPay02 Requisition Listing. This can

be sorted by site for distribution

Go to Finance – Reports – ReqPay – ReqPay 02 Requisition Listing

Fiscal Year: 2020 {2019/2020}

Requisition Status: Open-Submitted-Approved-Printed-Ready for Pymt-Chk Pending

Sort/Group 1: Order Location to send to sites or other options

Click Go to generate report

Every Report has

Report Sample

Click web link for

more information

about report

Sort by Order Location

to send to sites or

select other options


Example ReqPay02 Requisition Listing

Review Enc column for Remaining Encumbered balances

Send to sites to review

Research to determine if items or services will be received prior to June 30

Now that prior year accruals have been cleared and vendor requisitions have

been resolved, it’s time to move to the Year End Closing process.


Escape – Release, Carryover, Accrue Documents

Tips before you get started on the Year End Closing activity:

Requisitions in Open status cannot accrue or carryover

o Review the requisition and determine if it needs to be submitted or cancelled

o Use the quick link on the processing screen to go directly to the requisition activity

Documents with errors will not post

o Documents with errors must be resolved


Requisitions cannot be processed with negative outstanding accrual or carryover

amounts

o Negative line items with positive requisition total, will redistribute accounts, need to

review

o These requisitions must be resolved in the Finance-Requisition activity


The accrual and carryover fields on the list are editable, but may not be set to a negative

value

If all fields are 0.00 the requisition will roll to the next fiscal year with a zero dollar amount

o This would not be something you would generally want to do

o Must manually complete the requisition OR use the “Complete?” field in Year End

Processing List.

Posting an Accrual amount will automatically:

o Create a Journal Entry in the closing fiscal year to set up the liability

o Add liability accounts in next year

o Write a History record detailing what was done to the requisition/PO during the year end

process

When the Payables year-end closing list is created, Escape makes the assumption that all

requisitions are to be carried over into the next year and the default is carryover

o This is not the case in our county

o Construction projects are an example of a requisition type that may need to be carried

over rather than released and reissued

o The Carryover process allows the requisition or PO number to remain the same between years

Posting a Carryover amount Escape will internally

o Change the fiscal year of the requisition

o Add accounts for next year

o Reverse outstanding encumbrances in the closing year

o Encumber amounts in the new fiscal year

o Write the appropriate history record as to what happened to the requisition/PO during

the year end process

Carryover

Release

Accrual


Posting a Release amount on the requisition (both the accrual and carryover amounts are

zero), Escape will

o Change the requisition status to Completed

o Reverse outstanding encumbrances

o Write a history record for what was done to the requisition during the year end process

The Release column is calculated by subtracting the accrual and carryover amounts from the

outstanding amount

o A red amount will be shown, if the result is negative

o No requisitions items with red amounts can be processed

The Accrual process results in FY20 journal entries to establish AP’s (credits object 9529) and

record expenses (debits objects 1xxx through 6xxx) in 2019-20

Other Documents

Stores Requisitions do go through the year end process

o Must be addressed in the Finance–Store Requisitions activity

o Stores requisitions default to release

o Backorders are cancelled automatically

Work Orders do not go through the year end process

o Must be addressed in the Finance-Work Orders activity

o Must be manually closed or cancelled or complete

If the work order status is Open or Submitted you must cancel

If the work order status is Approved, Assigned or Ready to Expense you have a

choice to cancel or complete


NOTE:

The Asset/Liability roll, which takes place after 2019-20 is closed, will move the

General Ledger amounts from object 9529 in FY20 to General Ledger object 9510 in

FY21

The Asset/Liability roll does not roll the requisition detail into the next fiscal

year, only the total beginning balance

Until the Asset/Liability roll is performed, there will be no balance in the FY21 general

ledger object 9510 to offset the payments being made to the FY20 (accrued) payables

****Manual Accruals Due To/From Government Entities****

Must use 9290/9590 objects for any accruals associated with State or Federal programs (Example: Fund 13 Cafeteria)

Manual Journal Entries will need to be done, as the Year End Closing in the Processes activity does not allow the use of objects other than 9229/9259

Manual Journal Entries created with 9290/9590, balances will remain in these object codes during the Asset/Liability roll and will need to be manually reversed in the new fiscal year


Review Fiscal15 Fiscal Year End Checklist

This report lists all outstanding requisitions, direct payments, employee

payments, journal entry encumbrances, invoices and receipts that must

be addressed to close the fiscal year.

Go to Finance – Reports – Fiscal – Fiscal15 Fiscal Year End Checklist

Fiscal Year = 2020 (System will default to 2021 after July 1)

Reqs ? = No - Do NOT include Requisitions having zero encumbrance balance

Payments = Yes – Include Payments (Will include pending AP payments that are not

associated with a requisition)


Review the report for any outstanding items that should not be accrued or carried forward

Verify all balances and pending payments

Remember to also check encumbrance amounts

Fiscal15 Report must be

clear before close of FY

The Fiscal 15 report MUST be completely clear (no entries present) in order to close the fiscal year.


Year End Closing Activity for Payables

Go to Finance – Processes – Year End Closing

This will provide a list specific vendor requisitions to review. Other Document Types are

available to choose from depending on the activities you wish to review.

Enter search criteria:

Fiscal Year = 2020 (System will default to 2021 after July 1)

Document Type = Vendor Req or use drop down menu to select

Review other fields to narrow search

Click Go to generate the list


Items in Year End Closing must be addressed in order to close the Fiscal Year. They must be Accrued, Carried Over, Release or Completed. Partial Amounts are allowed as well. Example list of active Vendor Requisitions in Year End Closing:

Use the Quick Link to go directly to the requisition or invoice for detail or to edit

In the tool bar click on the Preview Button “Magnifying Glass” icon

o Snapshot with Payments for the requisition highlighted on your list

Report option:

Go to Tasks select Year End Processing Report o Reports all detail for remaining items on the list


Working and Clearing the Year End Closing List


Step 1: Review the Status Column.

o Consider the status of each item.

o Are the items listed ready to be processed or do you need to review further?

Step 2: Begin working and processing.

o Use the quick link to review the requisition detail.

o Does the item need to be Accrued, Carried Over, Released or Complete?

o Process each line until the list is cleared.

Step 3: Process and Post changes.

o Go to Task to Post; Re-do your search to refresh, items to process as YES, will be removed from the list and the appropriate JEs will be posted.

o Continue to work through your list until all items are processed.


Accrual Option

This is used when goods or services have been received on or before June30 in fiscal year 2019-20

and will be paid for next fiscal year 2020-21.

The payable accrual amount is expensed to the current year 2020 account and next year’s

2021 liability account is brought into the requisition for payment next year

Enter the amount of the Requisition (or a partial amount) in the Accrual field

Example: $1,500.00 of items have been received, invoice to be paid FY21

Escape automatically moves to the Carryover field

You must then zero out the carryover field

Once the Carryover field has been set to zero the system will automatically calculate the release amount in the Release column and change Process to YES

Use Task to post the accrual or continue to work the list

Posting will create the necessary journal entries and create a history record.

Always verify that the documents to be processed match with your count

Always verify that all your entries processed

If there are errors, the posting will fail and you will get an error message


Review Posted Accrual in Vendor Requistions

Once items are posted, the system will create the necessary Journal Entries and “move” the requisition

to FY21. Review the Account Tab to see the detail.

Go to Finance – Requisitions – Vendor Requisitions

Fiscal Year: Blank

Reference Number: Enter the Requisition or PO Number

Example: The original FY20 account lists the $1,500.00 Liability and the account line for FY21. The

final account line for FY21 Object 9510 lists $1,500.00 accrual amount.

The History Tab will provide a description of the transaction using the Year End Process.


ACCRUAL NOTES:

Setting up Accruals will create Journal Entries in the closing FY20 and set up the FY21 Liability.

Setting up an accrual in the next fiscal year FY21 allows Escape to setup the liability out

of the account and the remaining balance will go to the expense account. The expense

account is always brought into the next year along with the liability account.

Reverses the encumbrance FY20

Adds liability account in the next year FY21

If you pay more than the liability, Escape will Debit the base year expense account in

FY21.

If you pay less than the liability, Escape will flag the final payment and release the liability

using the base year account (debits the liability to clear the account and credits the

expense account increasing the available balance for the account in FY21).

***Once the item is posted in the year end processing activity, the

requisition has “moved” into FY21 and can only be altered from FY21 ***


Carryover Option

A requisition can be carried over from the current year (base year) to next fiscal year without

creating a liability. Typically used for construction projects.

This will cause the requisition to be paid from the next year’s budget with the same Requisition or PO number as the current year R20 or P20. The fiscal year of the requisition will change to the next fiscal year, but the status will remain the same.

Verify the amount of the requisition (or partial amount) in the Carryover field

Escape automatically placed the remaining dollar amount from the requisition in the

Carryover field.

If you do not change the carry over amount, you will need to make sure to Change the

Process Field from No to Yes

Escape will not automatically change it for you, if no entry is made

If you want to carry over an amount different from the default, you will need to change

the carry over amount.

o Escape will automatically do the release calculation

o Escape will automatically change the Process field to Yes

Use Task to post, the system will:

Create a journal entry in the closing year FY20 to reverse the encumburace

Add expense accounts in the next year FY21

Encumber the amount in FY21

Always verify that all your entries processed

If there are errors, the posting will fail and you will get an error message


CARRYOVER NOTES:

Setting up a Carryover will allow Requisitions and POs to remain the same between the years.

Will reverse outstanding encumbrances in the Closing Fiscal Year FY20

Posting a Carryover amount in Escape will change the fiscal year of the Requisition Account Tab and add accounts for the Next Fiscal Year FY21

Encumber new amounts in the New Fiscal Year FY21

This is NOT recommended! EXCEPT in the case of Construction Contract Agreements

Construction projects are an example of the kind of requisition that may need to be carried over rather than released and reissued.

***Once the item is posted in the year end processing activity, the

requisition has “moved” into FY21 and can only be altered from the FY21 ***


Release Option

The Release Option will release the remaining encumbered amount back into the expense account balance. Use this option when items or services are not received on or before June 30.

o Enter 0.00 in the Carryover field and Escape will:

Calculate the Release amount

Sets the process flag to Yes

Releases the funds upon posting

o When you release a requisition amount Escape will:

Create a journal entry in the closing fiscal year FY20

Release the funds FY20

Set the requisition to complete FY20

Create a journal to reverse the encumbrance FY20

Write history record to document what happen to the requisition during the year end process


Complete Option

Sometimes a requisition will be listed on the Year End Closing list with all zeros or small amounts.

One of the most common reasons that a District might have requisition listed with zero amounts is a

result of not flagging the last payment as the final payment.

The complete option will move the requisition to Complete Status in the current year and it will NOT

carry the requisition over to the next fiscal year.

Enter 0.00 in the Carryover if small amount

Enter Yes in the Complete? Field

Escape will automatically complete the requisition in the current fiscal year

Review Errors:

● Review the Message Column for “Post failed error”. If you hover over the

error or expand the column, you can see error message detail.

Example: Post failed, error = Amounts cannot be negative

Example: Post failed, error = Expired Accounts

● Use the Quick link next to the Requisition to review

● Update the requisition based on the error

● Review the Year End Closing list again to verify that these items have cleared

NOTE: If the Requisition in “Progress” and there are no funds to release (accrual, carryover and release all equal zero) the requisition will be carried over to the next Fiscal Year FY21. If you do NOT want it to carry over then

you will need to complete the requisition in the current year.


Year End Closing Tips

Requisition total is positive and was processed through the Year End Closing activity as an accrual.

Requisition Account Tab has negative line item, but the total requisition is positive.

Review Requisition in next fiscal year, the accounts are redistributed to 0.00 for the negative line and

then reduced the other account. This would have to have a manual journal entry to redistribute as

desired.

Use the Enter Key to move within the Year End

Closing Activity – Not the Tab key

NOTE: Requisitions with negative line items, such as a discount or credit, but the

total requisition is positive, the accounts will redistribute so that all lines are

positive, however, that may not be what you want.


Multiple Users

Sometimes there are multiple people working the year end list and they both try to post a requisition

at the same time or the same requisition at different times

If you receive the error: “Cannot process requisition, it is already in fiscal year xxxx,”

o This means that the document has already been carried forward to the new fiscal year

o The requisition has “moved” into FY21 and can only be altered from that fiscal year

Items Processed Too Soon – Pre Close

There will be times when you have accrued something and did not mean to or it needs to be

corrected.

There are three options:

Return to the Vendor Requisition screen and select Rollback Year End Processing

o The Roll Back Year End requires the activity permission

Cancel the requisition (If no payments), copy it and make the payment on the new req

Make a direct payment to the vendor in the current fiscal year and Manual

Complete the new fiscal year requisition


Continue Working and Clearing the Year End Closing List


Review that there are no requisitions in Open Status as these cannot be processed through the Year End Closing Activity. Items in Open Status will need to be moved to Ready for Payment or Complete Status.

Example List of Open Status Vendor Requisitions:

OPEN requisitions cannot be processed through the Year End Process and will need to be updated to Ready for Payment Status or Completed

Enter Search Criteria:

Fiscal Year: 2020

{2019/2020}

Document Type: Vendor Req

Req Status: Open

Click Go to get list to review

Use the Quick Link to get to the Vendor Requisition to Cancel or submit for approval


Important Reminder:

All Government Due To/Due From Vendor Requisitions will need to be paid or completed.

Do not use the Year End Closing activity to Accrue or Carryover requisitions using government funds, this activity only allows 9529 Object.

Must do a manual Journal Entry using 9590 Object Code

Example: Search by Fund: 13 {Cafeteria}

o Review that no items are in the Year End Closing Activity

Example List of Fund 13 Requisitions

These will need to be Paid or Completed and a manual Journal Entry will need to be done to 9590 Object Code.


Example #1 - Accrual

Outstanding amount is $2,849.29.00, use the quick link to review the requisition, then determine if it will be an accrual, carryover, or release. In our example, we received the goods, so will change the Accrual to $2,849.29, carryover is 0.00. Release amount will calculate automatically 0.00

Example #2 - Carryover

Outstanding amount is $1,532.50, Carryover since this construction project is not complete, change the Process field to Yes.

Example #3 - Release

Outstanding amount is $241.07, amount will be released since we have made all payments. Change the carryover amount to 0.00. Release amount will automatically change to the full release amount.

Example #4 – Partial Accrual and Partial Release

Outstanding amount is $172.43, change the Accrual amount to $150.00, Carryover Amount is $0.00, the Release amount will calculate the difference automatically.


Example #5 – Clear Negative

Outstanding Requisition with a negative amount listed. This item will need to be reviewed and processed before closing fiscal year.

Outstanding amount is negative, cannot process a negative amount through the year end process. This must be resolved in the Vendor Requisition by using Task to manually complete. Leave as NO in Process column to further review.

Example #6 – Complete?

Outstanding Requisitions with zero amounts listed. These items will need to be reviewed and most likely completed. They are typically requisitions that were already paid in full and the Account Tech probably forgot to flag them as a Final Payment.

This requisition has been reviewed and confirmed that all payments have been made and it needs to be flagged as Complete?. Since all columns are already at zero amounts, this can be processed by simply updating the Complete? Column to reflect Yes. The item will complete automatically upon posting the list.

Continue working the list until all Vendor Requisitions have been processed. This list must be cleared in order to close the fiscal year.


Prior to Closing FY20

How to Fix Vendor Requisitions that were processed thru Year End Closing

If items have been completed, you have the ability to Rollback Complete/Cancel. Also items that are processed through Year End Closing in error, or need to change amounts or change accounts, there is the ability to Rollback Year End Closing to reprocess. Keep in mind that this is permission based.

Example #7 - Requisition was RELEASED in Error

District has just received a final invoice and packing slip and want to make the payment. The District will need to use the “Rollback Complete/Cancel” from the Tasks dropdown.


Leave the Fiscal Year Blank

Enter the Requisition Number: R20-00009

Notice the Status is Complete

Open the Requisition Line

Go to Tasks to select Rollback Complete/Cancel

Change the Adjustment Amount to 0.00

This was the amount that was released from encumbrance when originally completed

The “Rollback Complete/Cancel” will return the requisition to open status and create an additional history record.

The District can now process the requisition for the Final Payment, or update the Year End Closing list to reflect accordingly.


Example #8 - Requisition was processed with an incorrect ACCRUAL amount.

The District just realized that they setup a Accrual with the incorrect amount. FY20 is still open and they would like to fix the requisition to reflect accurately in FY21.




Notice the Status is Ready for Payment


Go to Task to select Rollback Year End Processing

Notice the Outstanding Amount has been returned to the Original Amount

Reprocess through the Year End Closing process


Example #9 - Requisition was processed with an incorrect ACCRUAL amount, and incorrect ACCOUNT LINES

The District just realized that they setup a Accrual with the incorrect amount and the incorrect Account Lines. FY20 is still open and they would like to fix the requisition to reflect accurately in FY20.

Step 1: Go to Finance – Requisitions – Vendor Requisitions



Notice the Status is Ready for Payment


Go to Task to select Rollback Year End Processing

Requisition will now reappear on the Year End Process list with original information.

The History Tab of the Requisition will now show that it was rolled back


Continue Example #9 - Requisition was processed with an incorrect ACCRUAL amount, and incorrect ACCOUNT LINES

Step 2: Go to Finance – Requisitions – Vendor Requisitions



Go to the Accounts Tab o Update the Items (if needed) o Add an Adjustment Amount (if needed) o Distribute the full new cost of the Requisition o Change the Account Code (if necessary)

In this example the district needed to add an account line item and account line, increasing the requisition for additional services $1500.00. They remembered to distribute the full new cost of the requisition.

Notice there is a line for Fiscal Year 2020, this was created with the orignal Year End Process activity. Since we rolled the Year End Process back it now reflects ZERO dollars.

The changes are also noted in the History Tab of the requisition.


Continue Example #9 - Requisition was processed with an incorrect ACCRUAL amount, and incorrect ACCOUNT LINES

Step 3: Go to Finance – Processes – Year End Closing

R18-00142 now indicates an Outstanding amount of $3,134.08, instead of $1,512.20. It now includes the increased amount and account line.

Reprocess and Accrue the updated requisition amount using the Year End Closing process.

The requisition will be correct for the next Fiscal Year FY21.


AP Payments for 2019/2020 in FY21 Without Using “Year End Closing”

AP Payment Transactions to create accruals can be done starting on July 1, 2020. The system will

default to 2021 {2020/2021}, you will need to change the Fiscal Year to 2020 {2019/2020}. The

system will automatically do the necessary journal entries between the fiscal years.

Accruals for 2020 { 2019/2020} can be created throughout the closing process

Based on activity permisssions

Be sure to follow District practices and procedures

Dates for Current Year Payments are set in the Organization Record

For AP Payments, items can be processed by Payment Types as usual using the 2020 {2019/2020} Fiscal Year:

Enter Payments

Enter Direct Payments

Enter Employee Payments

Payment Transactions

Payments

Payment Transactions are all types of Payments in batch format

System will automatically create the Journal Entries for each year

FY20: Debit Exp/Credit 9529

FY21: Debit 9529/Credit 9510

REMINDER:

Last AP Check Processing June 24, 2020 by noon

Last June Deposit June 23, 2020 by 4:30 pm

DO NOT create AP batches between June 25 and June 30

DO NOT Create AR Receipts batches between June 24 and June 30


Final Reports for Submission

Final Fiscal15

Fiscal15 Fiscal Year End Checklist must be clear (No entries) and signed by LEA Authorized Signature

and submitted with closing documents to the District’s SCOE Advisor.

Go to Finance – Reports – Fiscal – Fiscal15 Fiscal Year End Checklist

Fiscal Year: 2020 {2019/2020)


Report MUST be Clear; No items can be on this report

Must be signed by LEA Authorized Signature

Go to Finance – Reports – Ledger – Ledger02 Receivables/Liabilities Activity

AFTER Close of FY19

Final Ledger02

Fiscal Year: 2020 {2019/2020)

A/R or A/P?: Both

Cleared Items: Yes

JE Source?: Yes

Click Go to generate

Review final

Must be signed by LEA Authorized Signature


AFTER FY20 Closed – Resolving Vendor Requisitions

If a Requisition was processed through the Year End Closing activity and should have

been closed or the amount was incorrect or a Direct Payment was made but not applied

to the original requisition, then you will need to manually complete the Requisition.

Go to Finance –Requisitions – Vendor Requisitions

o Go to Tasks and select Manual Complete or Cancel

o In Tasks DO NOT Return the Requisition to Open

The requisition status will be updated to Cancelled or Completed and create a History

record. The system will create a Journal Entry in FY20 that will relieve the 9510 amounts

and credit the expense account. Be sure to advise your CBO or Business Manager so

they can make account adjustments if necessary.