Clearing Fund Maintenance - FIN2100

Finance > Tables > District Finance Options > Clearing Fund Maintenance

This tab displays the default accounts that are used for the posting pages. Both Finance and payroll clearing funds can be set up from this tab.

Set up clearing funds:

Field Description
Codes for Fiscal Year

Click Drop-down Arrow to select a different fiscal year, if necessary.The default is the last digit of the current fiscal year (e.g., for fiscal year 2017-2018, the value should be 8).

All Computer Checks to Finance Clearing Fund in Bank Recon

Select to display all computer checks on the Bank Reconciliation page. Leave blank to filter computer checks by bank account group. Cash receipts and district checks posted to funds other than the clearing fund are not affected by the flag and are always filtered by the bank account group.

Finance Clearing Fund/Fiscal Year

Type the clearing fund code and the fiscal year. The clearing fund code must be a three-digit number with the first digit beginning with 1, 4, or 8, and the fiscal year code is a one-digit code that is the last digit in the fiscal (school) year (e.g., 864/9).

Payroll Clearing Fund/Fiscal Year

Type the payroll clearing fund code and the fiscal year. The payroll clearing fund code must be a three-digit number with the first digit beginning with 1, 4, or 8, and the fiscal year is a one-digit code that is the last digit in the fiscal (school) year (e.g., 863/1). If the original value (before changes) is the same as the Payroll or Personnel > Tables > District HR Options payroll clearing fund/year, a warning message is displayed. The user is responsible for changing the HR options.

Set up a new clearing fund:

❏ Click Add. All fields except the Finance Clearing Fund/Fiscal Year, Payroll Clearing Fund/Fiscal Year, and Overpayment Account fields are automatically populated using clearing fund data from the previous year.

Finance Clearing Fund/Fiscal Year

Type the clearing fund code and the fiscal year. The clearing fund code must be a three-digit number with the first digit beginning with 1, 4, or 8, and the fiscal year code is a one-digit code that is the last digit in the fiscal (school) year (e.g., 864/9).

Payroll Clearing Fund/Fiscal Year

Type the payroll clearing fund code and the fiscal year. The payroll clearing fund code must be a three-digit number with the first digit beginning with 1, 4, or 8, and the fiscal year is a one-digit code that is the last digit in the fiscal (school) year (e.g., 863/1). If the original value (before changes) is the same as the Payroll or Personnel > Tables > District HR Options payroll clearing fund/year, a warning message is displayed. The user is responsible for changing the HR options.

❏ Under Finance Automatic Posting Defaults:

Cash AccountThe default four-digit object code is 1110, and the default two-digit subobject code is 00.
Payable Account

The default four-digit object code is 2110, and the default two-digit subobject code is 00.

Note: Do not make the Payable Account object/subobject code the same as the Due To object/subobject code (2177.99).

Accounts ReceivableType the object and subobject codes for use when Account Receivable transactions are created.
Overpayment Account

Type the fund, fiscal year, object, and subobject codes to use when Accounts Receivable overpayment transactions are created. The fiscal year is set to the Current Finance Fiscal Year selected on the Finance Options tab.

To view a list of account code components, place the cursor in one of the account code component fields, and then click Lookup or press F2.

Type data in the applicable account code components or leave blank for all account codes, and then click Search.

A list of available account codes is displayed.

Select an account code from the list. Otherwise, click Cancel to return to the Clearing Fund Maintenance tab.

The system assigns the object and subobject codes for the Due To, Reserve for WH Encumbrance, and Requisition Offset fields, and you cannot edit them.

❏ Under Payroll Automatic Posting Defaults:

Posting Code Object Subobject
Cash Account114100
Accrued Wages216100
Accrued Federal Grant Deposit221111
Accrued Federal Grant Care221112
Accrued Employer FICA/Medicare221114
Accrued Employer Unemployment Tax221115
Accrued Health Insurance Contribution221116
Accrued Employer 457 Contribution221117
Accrued Employer Annuity Contribution221118
Accrued Employer TRS Care Contribution221119
Accrued Employer Dependent Care221120
Accrued Employer Miscellaneous Deduction Contribution2211xx

See common/payroll object/subobject codes.

❏ Click Save.

Other functions and features:

Retrieve

The Retrieve button is also used to retrieve information from the last save. If you click Retrieve, any unsaved changes are lost.

Print

Click to print the report. The following Account Code Table options are displayed:

Current Tab Page - prints only the tab page currently open.
Selected Account Code Tables - displays the following options:

Finance Options
Accounting Periods
Clearing Funds

All Option Tables - prints all the Finance Options tab pages.
Select an option, and then click OK to view a copy of the report. Otherwise, click Cancel to return to the tab.

Review the report.