Created: 07/10/2020
Reviewed: 06/11/2024
Revised: 06/11/2024

1. Perform an export.

   Perform an export

   Log on to file ID 4.

   Finance > Utilities > Export by File ID

   Perform an export prior for file IDs 4 and C.

   

   ❏ Select file IDs 4 and C and move to the right side of the page.

   ❏ Click Execute to execute the process. A message is displayed indicating that you are about to export Finance tables.

   ❏ Click Yes to continue. Otherwise, click No to return to the Export by File ID page.

   • A pop-up window opens, in the Enter the Password to be used for the Archive, type a password for the file. You are prompted to enter a password for each export. Click OK.
   • A dialog box opens with a preset File name, do not rename the file. Save the file on your computer or network. A message is displayed indicating that the Finance tables were successfully exported.

2. Correct out-of-balances.

   Correct out-of-balances

   Log on to file ID 4.

   Finance > Utilities > Out of Balance Correction

   After the opening balances have been posted in file ID 4, correct any out-of-balance occurrences. If there are no out-of-balance occurrences, continue to the next step.

   This utility is designed to locate out-of-balance accounts in the End-of-Month (EOM), current, and next accounting periods.

   If out-of-balance accounts exist, the FIN1600 - Batch Process Balance Error Listing Report is displayed with a list of the accounts. These out-of-balance situations may have been inadvertently caused by the system (e.g., missed transactions in the End-of-Month (EOM)). After processing the utility, the totals are recalculated and corrected in the general ledger.

   IMPORTANT: The utility will not correct a true out-of-balance entry where a Fund Total is displayed in the General Ledger; those still need to be submitted for correction.

   The ASCENDER processing logo is displayed upon accessing the page indicating that the program is searching for any out-of-balance accounts in the EOM, current, and next accounting periods.

   

   If all accounts are in balance, the following message is displayed: All accounts for EOM, Current and Next Accounting Periods are in balance.

   

   If any out-of-balance accounts exist for YC, AC, AA, the FIN1600 - Batch Process Balance Error Listing Report is displayed with a list of the accounts. Review the report.

   

   • Click Process to recalculate the totals and correct out-of-balances in the general ledger.
   • Click Cancel to cancel the process.

   A message is displayed indicating that the process was completed successfully.

3. Carry forward end balance sheet account balances.

   Carry forward end balance sheet account balances

   Log on to file ID 4.

   Finance > Utilities > Fiscal Year Processing > Create New Accounts by Fund

   Skip this step if you prefer to manually enter opening entries.

   Carry forward the ending balance sheet account balances from file ID 4 to file ID C. This step will copy the accounts and balances to file ID C. If the account already exists, it will not recreate the account but instead will add the amount to the balance that exists in the account for file ID C. The balancing entry for each fund, if needed, will be to the account whose object is the actual fund balance object code from the Fund tab in the Account Code table in file ID C. If a budgetary fund balance amount is transferred, the amount may need to be moved.

   IMPORTANT: Keep in mind that you need to be aware of the funds that were Continued in the current file ID (as part of the EOY Finance process). You cannot carry forward balances for Continued funds.

   

   ❏ Select the appropriate accounting period.
   
   ❏ In the JV Number field, type OPENBA.
   
   ❏ In the Transaction Date field, type the transaction date.
   
   ❏ Use the arrow buttons to move the applicable funds to the right side of the page. The fiscal year should increment by one.
   
   ❏ Click Select Class.
   
   ❏ In the Select All field, select the following:

   • Class 1 – 1XXX = Assets, including cash
   • Class 2 – 2XXX = Liabilities
   • Class 3 – 3XXX = Fund balances
   • Class 4 – 4XXX = Encumbrances
   • Carry Forward Totals

   
   ❏ Click Execute. After you click Execute, the Create New Accounts By Fund Error Report may be displayed. Review the report and make corrections as needed. Repeat this step or click Continue.
   
   ❏ Once you click Continue, a preview report is displayed. It is recommended that you print or save this report for your records.

   

   ❏ Click Process to process the report. A message is displayed indicating that the process was successful.

4. Print and review Finance reports.

   Print and review Finance reports

   Log on to file ID C.

   Finance > Reports > Finance Reports > Journals, Checks, Detail Ledgers > FIN1150 - General Journal

   Generate this report with the JV number used in Step 3 to verify account balances. For example, this document used JV number OPENBA as seen in the following image.

   

   Finance > Reports > Finance Reports > Journals, Checks, Detail Ledgers > FIN1400 - Detail General Ledger

   Generate this report to verify account balances.

   

   Finance > Reports > Finance Reports > Journals, Checks, Detail Ledgers > FIN1600 - Batch Process Balance Error Listing

   Generate this report to verify that there are no funds out of balance. The report should be blank.

   

5. Correct out-of-balances.

   Correct out-of-balances

   Log on to file ID C.

   Finance > Utilities > Out of Balance Correction

   After the opening balances have been posted in file ID C, correct any out-of-balance occurrences.

   This utility is designed to locate out-of-balance accounts in the End-of-Month (EOM), current, and next accounting periods.

   If out-of-balance accounts exist, the FIN1600 - Batch Process Balance Error Listing Report is displayed with a list of the accounts. These out-of-balance situations may have been inadvertently caused by the system (e.g., missed transactions in the End-of-Month (EOM)). After processing the utility, the totals are recalculated and corrected in the general ledger.

   IMPORTANT: The utility will not correct a true out-of-balance entry where a Fund Total is displayed in the General Ledger; those still need to be submitted for correction.

   The ASCENDER processing logo is displayed upon accessing the page indicating that the program is searching for any out-of-balance accounts in the EOM, current, and next accounting periods.

   

   If all accounts are in balance, the following message is displayed: All accounts for EOM, Current and Next Accounting Periods are in balance.

   

   If any out-of-balance accounts exist for YC, AC, AA, the FIN1600 - Batch Process Balance Error Listing Report is displayed with a list of the accounts. Review the report.

   

   • Click Process to recalculate the totals and correct out-of-balances in the general ledger.
   • Click Cancel to cancel the process.

   A message is displayed indicating that the process was completed successfully.