Year End Obligations

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Year End Obligations. Legal Basis Reporting Workshop May 2009. Summary. Obligation Accruals Business Rules Automated Process GL-15 Manual Process Actual/Encumbrance Journals Helpful Query Review. Business Rules. Business Rules for year end required reporting - PowerPoint PPT Presentation

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<ul><li><p>Year End ObligationsLegal Basis Reporting WorkshopMay 2009</p></li><li><p>SummaryObligation AccrualsBusiness RulesAutomated Process GL-15Manual ProcessActual/Encumbrance JournalsHelpful QueryReview</p></li><li><p>Business RulesBusiness Rules for year end required reportingState GL Account 3010 Accounts Payable for ALL funds will include Posted Vouchers, Obligations AND EncumbrancesFIRMS record type 10 for object code 201001 will include Posted Vouchers and ObligationsNOT EncumbrancesFIRMS record type 15 for object code 201001 will be Year to date encumbrances (Accounting Period 1-12)FIRMS record type 16 for object code 201001 will be Project to date encumbrances (Accounting Period 0)</p></li><li><p>Accounts Payable to the State includes Encumbrances for Governmental Funds</p></li><li><p>CSU Data Structure</p></li><li><p>Year end ObligationsGoods and services received but not yet invoiced (no voucher posted) must still be obligatedFor activity received within the Finance 8.4 application an automated process will create the journals to liquidate the encumbrance portion and record the AP Accrual Manual journals will need to be done for items that cannot be identified by the automated processUtilitiesRetentionetc </p></li><li><p>CSUGL015 Year End ObligationsAutomated process within PeopleSoftShould be run in report mode only until ready to actually process journalsJournals are created for Items received on Purchase Orders not yet InvoicedLiquidates Encumbrance as of June 30Creates a July 1 Encumbrance Journal to re-establish encumbrance Creates Actuals journal as of June 30Reverses July 1Automated Process</p></li><li><p>CSUGL15 CSU Year End Obligations Run Control</p></li><li><p>CSUGL015 Year End Obligations Output (Report)This report shows the PO amounts to be liquidated for obligation</p></li><li><p>CSUGL015 Year End Obligations Output (Report)This report shows the PO amounts to be accrued for obligations</p></li><li><p>CSUGL15 Overview</p></li><li><p>Manual Obligations of Encumbered AmountsLiquidate obligation portion of encumbranceEffective June 30, 2008Encumbrance Journal to Ledger KK_DTL_ENCRecord the amount as an accounts payable accrual obligationEffective June 30, 2008Actuals Journal to Ledger ACTUALSRe-encumber the obligationEffective July 1, 2008Encumbrance Journal to Ledger KK_DTL_ENCReverse the Accounts Payable AccrualEffective July 1, 2008Actuals Journal to Ledger ActualsManual Process</p></li><li><p>Manual Obligations of Encumbered Amounts (cont)Manual Obligation of Encumbered Amounts require THREE journalsJournals to the Actuals ledger can be set up as reversing journalsThis journal will record the Accounts Payable accrual AND reverse itJournals to the Actuals Ledger can be set up as reversing Journals.</p></li><li><p>Manual Obligations of Encumbered AmountsEncumbrance Journals are required to liquidate the encumbrance June 30 and to re-encumber it July 1</p><p>Encumbrance Journals are processed with the Ledger Group ACTUALS so that they will be edited by Combo Edits and controlled by open and closed periods</p></li><li><p>Manual Obligations of Encumbered AmountsJournals to Liquidate the encumbrance can NOT be set up as reversing, even though the software will allow it</p></li><li><p>Manual Obligations of Encumbered AmountsSummaryThree journals are required1 reversing journals for the accounts payable accrual (June 30, 2009) and the reversing accrual (July 1, 2009)2 encumbrance journalsOne dated June 30 to liquidate the obligation portion of the encumbrance One dated July 1 to re-encumber the obligation portion of the encumbranceFor the Encumbrance journal dated July 1, use the copy journal with reversing sign functionality</p></li><li><p>Reimbursed ActivityAnother Encumbrance JournalIn order to zero out Reimbursed Activity at year end for amounts related to encumbrances, an encumbrance journal needs to be processed eliminating all encumbrance amounts from Reimbursed ActivityHelpful Query</p></li><li><p>Query to Identify Reimbursed Activity Encumbrances</p></li><li><p>FIELDS</p></li><li><p>Criteria</p></li><li><p>Having Criteria</p></li><li><p>OutputDownload to excel to prepare encumbrance journals (6-30-2009) and reversing journal (7-1-2009)</p></li><li><p>Dont forgetRun CSUGL015 in report mode ONLY until ready to process journalsThree journals are required for manual obligations of encumbered amountsThere is no such thing as a REVERSING ENCUMBRANCE journalYou need to do two One dated June 30 and one dated July 1Use the Commitment Control hyperlink on the journal to do encumbrance journals to the ACTUALS ledgerDo NOT do journals to the KK_DTL_ENC ledgerThe offset to encumbrances MUST BE accounts payable FIRMS Object Code 201001Can set up a unique campus value Review</p></li><li><p>Referencehttp://cms.calstate.edu/04_Applications/04B_Finance/FIS90/FIS90_PSWD-01/FIS90_BPGs/GeneralLedger/FIS90_BPG_YearEndEncumbrancesandAccrualsProcessing_20080122.doc</p></li></ul>