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finance:utilities:fiscalyearprocessing:movebudgettofinance
Move Budget to Finance - FIN6100
Finance > Utilities > Fiscal Year Processing > Move Budget To Finance
This utility is used to copy the amounts in the Approved column in Budget to the Finance general ledger. This process transfers all account code, amount, and description information from the Budget master table to the Finance general ledger. When this option is chosen from the Budget application, the Budget file ID is the logged-on file ID, and the Finance file ID is C. When this option is chosen from the Finance application, the Budget file ID is N, and the Finance file ID is the logged-on file ID. The process allows the following:
- Users can select individual fund/fiscal years to copy and select whether to move the full amount, the difference, or the original budget.
- If accounts are locked in Budget, they can still be moved to Finance.
- If accounts are inactive in Finance, they are updated by Budget.
- Users can transfer credit amounts as well as debit amounts from Budget to Finance, and the system populates the amounts correctly in Finance.
- Amounts to be moved must be in the next year approved column in Budget.
- If the fund/fiscal year in Budget is not in balance when moved to Finance, a balancing entry is made based on the budget fund balance object/subobject code in the Account Codes table.
- If the account class is 3, 6, or 8, the amount being transferred from Budget is multiplied by -1 before posting to Finance.
- If the account class is 5 or 7, the budget amount is posted to Finance as it was entered in Budget.
After completing the move process, print the general ledger reports to verify that all account information was correctly transferred.
This function can be performed on the following two pages:
- Budget > Utilities > Move Budget to Finance
- Finance > Utilities > Fiscal Year Processing > Move Budget to Finance
Move budget data:
❏ Select one of the following Update Amount Options:
| Full Amount | Select if you are moving your budget to Finance for the first time. If Capture Original Budget Flag is selected on the Tables > District Budget Options page, Finance is populated with the original budget. The estimated revenues, appropriations, and if necessary, a 3XXX balancing account are updated/created each time this option is performed. If an account has an existing balance in Finance, the Budget amount is added to the existing balance (e.g., an existing account has a $1000.00 balance, and the Budget amount is $1500.00; the Budget amount is added to the balance to equal $2500.00). |
|---|---|
| Difference |
Select if an account has an existing balance in Finance, the difference between the Budget amount and the existing balance is added to the account (e.g., an existing account has a $1000.00 balance, and the Budget account is $1500.00; only $500.00 is added to make it $1500.00, or if Finance has $1500.00 and Budget has $500.00, $1000.00 is subtracted to make it $500.00). If Capture Original Budget Flag is selected on the Tables > District Budget Options page, Finance is populated with the original budget. The Estimated Revenues, Appropriations, and if necessary, a 3XXX balancing account is updated/created each time this option is performed. |
| Original Budget Only |
Select to allow to capture the original budget. No other columns in the Finance general ledger are updated, and no transactions are inserted. If the account does not exist in the general ledger, it is created. When this option is used, Capture Original Budget Flag on the Tables > District Budget Options page is ignored. If an account has an existing original budget amount in Finance, the Budget amount is added to the existing original budget amount (e.g., an existing account has a $1000.00 balance, and the Budget amount is $1500.00; the Budget amount is added to the original budget amount to make it $2500.00). |
NOTE: A warning message is displayed with a preview of the accounts, and informing you that account codes with balances exist in Finance.
❏ Select one of the following Copy Account Options:
| Copy zero balance accounts | Select to move all accounts in Budget to Finance including those with zero amounts. |
|---|---|
| Copy Account Code Tables |
Select to add this account code table to the existing Finance account code table for all funds, functions, objects, etc. that do not exist in the current Finance account code table. If accounts do exist in the current Finance account code table and changes were made to the descriptions, the existing description in the Finance account codes are replaced. Note: If you manually added the new account codes to the Finance account code table, this option does not need to be selected. However, if the account codes do not exist in the current Finance account code table and this option is not selected, database errors may occur. |
❏ Select one of the following Accounting Period options:
| Current | Select to post the general ledger to the current accounting period. Selected by default. |
|---|---|
| Next | Select to post the general ledger to the next accounting period. |
| JV Number | Set to 999999 by default, but can be changed. Type an alphanumeric journal voucher number. If a duplicate journal voucher number other than 999999 is entered, an error message is displayed. This field is required. |
|---|---|
| Transaction Date | Set to the system date by default, but can be changed. Type a date in the MM-DD-YYYY format. This field is required. |
All available funds/years and descriptions are displayed on the left side of the page. Select the current fund/year tables to be moved to the right side of the page for next year tables using the following buttons:
- Click to move selected entries from the left side to the right side of the page.
- Click to move all entries from the left side to the right side of the page.
- Click to move selected entries from the right side to the left side of the page.
- Click to move all entries from the right side to the left side of the page.
❏ Click Execute to move the Budget funds to the Finance general ledger.
Review the error report, if available.
If no error report is displayed or if Process is clicked on the error report (for out-of-balance), the following reports are displayed:
Note: The first report displays the account changes (i.e., fund balance entries) and the second report displays the budget data.
- Account Change Notifications are produced if a fund being moved is not in balance (e.g., Estimated Revenues + Other Uses does not equal Appropriations + Other Uses + Fund Balance). The journal voucher number and the transaction date are displayed in the report header. If the budget is not in balance, the move can still be processed. The difference is automatically entered in the Budgetary Fund Balance, or you can cancel the move and correct the budget. All federal and state grant funds should be in balance (estimated revenues = appropriations)
- A general journal is produced if any accounts are updated for Finance. The journal voucher number and the transaction date are displayed in the report header.
❏ Click Process to post the selected accounts to the Finance general ledger. Either the estimated revenues, appropriations, or balance columns are updated based on the account class and the accounting period. If Capture Original Budget Flag is selected on the Budget Options page, then the Budget amount is also saved as the Original Budget Amount column in the general ledger. A message is displayed indicating that the Move Budget to Finance process completed successfully. Click OK.
❏ Click Cancel to return to the Move Budget to Finance page without moving the accounts.
When data from Budget is moved to Finance, the following occurs:
- The JV Number Description field is populated with MOVE BUDGET TO FINANCE.
- The Reason field is populated with OPENING ENTRY.
finance/utilities/fiscalyearprocessing/movebudgettofinance.txt · Last modified: 2020/08/31 19:16 by emoreno