Finance Options - FIN2100

Finance > Tables > District Finance Options > Finance Options

This tab is used to select the appropriate parameters to set up the LEA's Finance records.

Set up Finance options:

❏ Under Finance Options:

Field	Description
Current Finance Fiscal Year	Type the last digit of the current fiscal year (e.g., for fiscal year 2019-2020, type 0)
School Year	Type the starting year and ending year (e.g., 2019-2020 for the current school year). The school year data allows you to enter transactions during the span of the school year. For example, for the 2019-2020 school year, you can enter transactions from January 1, 2019 through December 31, 2020.
Previous Year File ID	Type the previous year file ID, which can either be a numeric or alpha ID depending on how the LEA has stored the prior year's data. The process of creating the 1099 work table uses file ID C and the file ID designation in this field for file ID C to determine which file IDs to use. Once the Create 1099 Work Table process is initiated, if check transactions are detected for a file ID other than C and this field is blank in file ID C, a warning message is displayed asking for confirmation to continue. Click Yes to continue (only file ID C is processed) or No to stop. The current year is closed and moved to a previous year file ID. Once the previous year file ID has been created, you can access the file ID, run reports, post entries, process checks, extract PEIMS, and so on without affecting the current year file. The 1099 process uses transaction dates across the two file IDs.
District Federal ID Number	Type the nine-digit Employer Identification Number (EIN) code in the CC-CCCCCCC format.
Starting Accounting Period	Type the starting accounting period month in the MM format (e.g., 07 for July).
Change PO Created by a Requisition	Select to allow the user to modify purchase orders created in Purchasing. When selected, modifications can be made in Finance on the Postings > Purchase Order tab.
Use Asset Management Cross-Reference Table	Select if using the interface option from Finance to Asset Management.
Use Automatic Vendor Number Assignment	Select to automatically populate the Next Available Vendor Number field with the last vendor number plus one. Click Next Available Vendor Number to populate the Next Available Vendor Number field with the last number plus one. Note: If the vendor number has reached the maximum number (e.g., 999999), the system goes back to 000001 and begins to search for the next available number that was not previously used (e.g., 000995). If all available numbers were previously used, the following message is displayed: “All available vendor numbers are used.” Users must take the actions necessary to clear old or inactive vendor numbers from this file ID.
Use Automatic JV Number Assignment	Select to automatically populate the Next Available JV Number field with the last number plus one. Click Next Available JV Number to populate the Next Available JV Number field with the last number plus one. Note: If the journal voucher number has reached the maximum number (e.g., 999999), the system goes back to 000001 and begins to search for the next available number that was not previously used (e.g., 000995). If all available numbers were previously used, the following message is displayed: “All available JV numbers are used.”
Use Automatic Cash Receipt Number Assignment	Select to automatically populate the Next Available Cash Receipt Number field with the last number plus one. Click Next Available Cash Receipt Number to populate the Next Available Cash Receipt Number field with last number plus one. Note: If the cash receipt number has reached the maximum number (e.g., 999999), the system goes back to 000001 and begins to search for the next available number that was not previously used (e.g., 000995). If all available numbers were previously used, the following message is displayed: “All available cash receipt numbers are used.”
Use Automatic PA Number Assignmt	Select to automatically populate the Next Available PA Number field with the last number plus one. Click Next Available PA Number to populate the Next Available PA Number field with the last number plus one. Note: If the PA number has reached the maximum number (e.g., 999999), the system goes back to 000001 and begins to search for the next available number that was not previously used (e.g., 000995). If all available numbers were previously used, the following message is displayed: “All available PA numbers are used.”
Payables Date Used	Click to select from the options below. This is a required field. D - Use due date for payables T - Use transaction date for payables
Display GL Inquiry Warning	Select to display the following warning message on the Purchasing > Inquiry > General Ledger Inquiry tab and the Finance > Inquiry > General Ledger Inquiry tab if the number of retrieved records is more than 20,000: “Report will take longer to generate due to the number of rows being retrieved for the Account Code selected.”
Use Finance User Profile for GL Inquiry drill-down	Select to use the Finance user profile settings to determine the accounts to be displayed when using the drill-down feature on the Finance > Inquiry > GL Inquiry tab. If not selected, all accounts are displayed regardless of the Finance user profile settings.
Allow for repost option when voiding checks	Select to provide the option to recreate check transactions during the void check process. This option only applies to computer checks; district checks are excluded. If selected, the Repost Transactions field is displayed on the Finance > Maintenance > Check Processing > Void Check tab. If not selected, the Repost Transactions field is not displayed on the Void Check tab. For additional information about the Repost Transactions field, review the Finance > Maintenance > Check Processing > Void Check Help page.

❏ Under Student Activity Fund:

Note: Users should not begin using the Student Activity Fund in the middle of the school year.

Fund/Fiscal Year	Type a three-digit fund code (e.g., 865 - FAR Guide). The fiscal year code is a one-digit code that is the last digit in the fiscal (school) year. The field restricts account codes on the user’s profile. The logged-on user must have an additional masked account code with a fund (e.g., 865) that matches the Student Activity Fund. This allows the Student Activity Funds to be posted on the Maintenance > Postings page. The Fiscal Year field automatically populates with an X when the fund is entered, which indicates that the Student Activity Fund (e.g., 865) is allowed to display and post on the Maintenance > Postings page with multiple fiscal years if they exist in the chart of accounts. By changing the fiscal year from an X to a fiscal year (e.g., 0), the student activity fund (e.g., 865) with fiscal year 0account codes displays and posts on the Maintenance > Postings page. All other fiscal year student activity funds are excluded and are not displayed. When a fund is typed in the Fund Year field, and a fiscal year is typed in the Fiscal Year field, object code 6XXX is not available for encumbrances/expenditures for the selected fund. Note: When data is entered in the Student Activity Fund and Fund/Fiscal Year fields, the user has access to the following object codes on the Maintenance > Postings page: • Journal Budget (No Student Activity Funds are displayed.) • Purchase Order - 2XXX • Cash Receipt - 1XXX and 2XXX • Check Processing - PA - 1XXX and 2XXX • Check Processing - PO - Determined by purchase order entry • Journal Actual - 1XXX and 2XXX
Use Sobj/Org for All Offset Accounts	Select to replace the subobject and organization codes on the offset account codes with the subobject and organization codes from the account codes entered in Maintenance > Postings. When Use Sobj/Obj for All Offset Accounts is not selected, the subobject and organization codes on the offset account codes have default values. Note: Once requisitions and/or purchase orders have been created, the Use Sobj/Obj for All Offset Accounts field should not be changed. If changed, an error occurs when creating a check transaction. The field can be changed after all requisitions and purchase orders with the fund/fiscal year for Student Activity Fund are cleared.
Use Finance Clearing Fund	Select to use the Finance Clearing Fund for transactions created when printing checks on the Maintenance > Check Processing > Print Checks page. When Use Finance Clearing Fund is not selected, the Fund and Fiscal Year fields in the Student Activity Fund section are used for transactions, and the Finance Clearing Fund is not used when printing checks on the Maintenance > Check Processing > Print Checks page.

❏ Under HR Options:

Auto Transfer JV for Payroll	Select to automatically post journal entries to clear the interfund liabilities (due to/due from) between the funds represented on the general journal for the interface process being performed. These interface processes include the following: Deduction checks Payroll checks TRS 3 TRS 373 TRS 489 Notes: A Fund Transfer Summary report is printed at the end of the Payroll General Journal. If Auto Transfer JV for Payroll is blank, you are responsible for posting these entries.
Auto Add Benefit Accounts	Select to automatically create the benefit accounts (e.g., 6143, 6145) for all new salary accounts (e.g., 6119, 6121).

Auto Transfer JV for Payroll

Select to automatically post journal entries to clear the interfund liabilities (due to/due from) between the funds represented on the general journal for the interface process being performed. These interface processes include the following:

Deduction checks
Payroll checks
TRS 3
TRS 373
TRS 489

Notes:

A Fund Transfer Summary report is printed at the end of the Payroll General Journal.

If Auto Transfer JV for Payroll is blank, you are responsible for posting these entries.

Auto Add Benefit Accounts

Select to automatically create the benefit accounts (e.g., 6143, 6145) for all new salary accounts (e.g., 6119, 6121).

❏ Under Purchasing Options:

PO Object Code Restriction	Click to select the allowed range of object codes to be used on requisitions. Only account codes with object codes in the selected range are allowed. • R - Class 62XX-64XX and 66XX • E - Class 6XXX and 8XXX • A - Class 1XXX, 2XXX, 6XXX and 8XXX • C - Class 1XXX, 2XXX, 62XXX-64XX and 66XX If an account code entered on a requisition does not meet the selected criteria, an error message is displayed.
Print Federal ID Number on PO	Select to print the federal ID number on purchase orders in Purchasing. If blank, the federal ID number is not printed on purchase orders.
Use Automatic CYR Requisition Number Assignment	This field automatically assigns the next available current year (CYR) requisition number. Select to automatically populate the Next Available CYR Requisition Number field with the last number used plus one. Click Next Available CYR Requisition Number to populate the Next Available CYR Requisition Number field with the last number used plus one. Note: If the requisition number has reached the maximum number (e.g., 999999), then the number is reset to 000001 and searches for the next available number that was not previously used (e.g., 000995). If all available numbers were previously used, the following message is displayed: “All available requisition numbers are used.”
Use Automatic NYR Requisition Number Assignment	This field automatically assigns the next available next year (NYR) requisition number. Select to automatically populate the Next Available NYR Requisition Number field with the last number used plus one. Click Next Available NYR Requisition Number to populate the Next Available NYR Requisition Number field with the last number used plus one. Note: If the requisition number has reached the maximum number (e.g., 999999), then the number is reset to 000001 and searches for the next available number that was not previously used (e.g., 000995). If all available numbers were previously used, the following message is displayed: “All available requisition numbers are used.”
Use Automatic CYR PO Number Assignment	This field automatically assigns the next available current year (CYR) purchase order (PO) number. Select to automatically populate the Next Available CYR PO Number field with the last number used plus one. Click Next Available CYR PO Number to populate the Next Available CYR PO Number field with the last number used plus one. Note: If the purchase order number has reached the maximum number (e.g., 999999), then the number is reset to 000001 and searches for the next available number that was not previously used (e.g., 000995). If all available numbers were previously used, the following message is displayed: “All available purchase order numbers are used.”
Use Automatic NYR PO Number Assignment	This field automatically assigns the next available next year (NYR) purchase order (PO) number. Select to automatically populate the Next Available NYR PO Number field with the last number used plus one. Click Next Available NYR PO Number to populate the Next Available NYR PO Number field with the last number used plus one. Note: If the purchase order number has reached the maximum number (e.g., 999999), then the number is reset to 000001 and searches for the next available number that was not previously used (e.g., 000995). If all available numbers were previously used, the following message is displayed: “All available purchase order numbers are used.”
Reset Approval Path Purchasing	Select to reset the approval path of a requisition when the amount or account is changed by an approver during the approval process. If selected and changes are made to a requisition, the requisition is automatically returned to the originator and must be resubmitted by the originator. After the requisition is resubmitted, it must go through the approval path again. When a change is made, an email message is sent to the originator. If not selected, changes are allowed by the approver and the requisition continues through the approval path.

❏ Under BAR Options:

Amendment Cutoff Date	Type the final date that the budget amendment request amendments can be created in the MMDDYYYY format. When this date is less than the current date, then new, current year amendments can no longer be created. If no date is entered, then new, current year amendments can be entered at any time.
Default Amendment Reason	Type a default amendment reason. The data is used as a default in the Default Amendment Reason field on the Amended Budget Maintenance page.
Use Automatic Amendment Number Assignment	Select to automatically populate the Next Available Amendment Number field with the last number plus one. Click Next Available Amendment Number to populate the Next Available Amendment Number field with the last number plus one. Note: If the amendment number has reached the maximum number (e.g., 999999), the system goes back to 000001 and begins to search for the next available number that was not previously used (e.g., 000995). If all available numbers were previously used, the system displays the message “All available amendment numbers are used.”
Indirect Cost Object Mask	Click to select a 5XXX object code, which is used to designate which revenue accounts are indirect costs when transferring funds from one account to another on revenue and expenditure accounts. The revenue accounts carry a negative sign as the normal balance for estimated revenue.
Indirect Cost Sub Object Mask	Click to select a subobject code, which is used to designate which revenue accounts are indirect costs when transferring funds from one account to another on revenue and expenditure accounts. The revenue accounts carry a negative sign as the normal balance for estimated revenue.
Allow for Approval Process	Select to allow the budget amendment to travel through an approval path of approvers prior to becoming finalized. The workflow approval path must be set up in the District Administration application. Note: An amendment cannot be submitted when Allow for Approval Process is not selected, and the amendment's funds are not in balance.
Reset Approval Path	Select to reset the approval path of an amendment when a new amendment transaction is added or when the amount or the account number of an existing amendment is changed by an approver. When the reset process occurs, an e-mail message is sent to the originator indicating that the amendment has been changed; the originator can resubmit the revised amendment.

❏ 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.

Retrieve

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

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.