Run reports to check your data.
Some helpful reports (The report version number is not cited here. That is the last two digits of the report identifier.):
- ACQ-01, ACQ-02, or ACQ-03: Use one of these to see a summary of your funds.
- ACQ-04, ACQ-05, or ACQ-16: The “Soup to Nuts” reports give you a tremendous amount of information about the line item.
- ACQ-07: By entering the dates of the current fiscal year in the date range, and entering the previous fiscal year in the fiscal year date, you can find line items that may have been charged to funds from the previous fiscal year. This will also find line items without copies.
- ACQ-25: List of encumbered items.
- ACQ-26: List of Line Items by Library, Status, Fund and Fund Year.
Select a date for fiscal close and inform staff.
If you invoice:
- Be sure all invoices for current fiscal year have been processed.
- Be sure all invoices for the current fiscal year have been closed. Funds will not be disencumbered and expended it the invoice is not closed.
If you receive, check that all invoiced line items have been received.
Double check the propagate and rollover settings in your funds to be sure they are set as you want them.
Pending purchase orders with line items to order in the new fiscal year, 2 options:
- Option 1: Activate all pending POs just before fiscal close. Funds will automatically be updated to the new fiscal year during the fiscal close process. If you have warning and stop percentages, this method may not work for you, as you will, most likely, exceed those percentages.
- Option 2: After fiscal close, apply the appropriate funds for the new fiscal year to your pending POs, then activate the POs.
After Fiscal Close is Complete
- Update Distribution Formulas with the fund for the new fiscal year. Currently, funds in distribution formulas do not automatically get updated. They still have the previous year’s fund set. When you go to edit the distribution formula, you will see that the fund field will appear to be blank. The fund for the past fiscal year is actually still set, but not visible, because it was set to inactive during the fiscal close process. So be sure to click the drop down and select the appropriate fund, or you might end up expending from your previous year’s funds. The drop down will contain your new funds for the new fiscal year.
- Go around to each workstation where you upload orders and set the new fiscal year on the upload screen.
- Go to Acquisitions/Load MARC Order Records.
- Select the new fiscal year from the Fiscal Year drop down.
- Click Upload.
- Click OK in the error box that pops up.
- Click Reload. You will see the new fiscal year set as the default.
- Credit money to your funding sources.
- Allocate money from you funding sources, to your funds. Manage Fund Documentation