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academy:business_finance_eoyprocess

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academy:business_finance_eoyprocess [2024/05/06 18:22] – emorenoacademy:business_finance_eoyprocess [2025/08/15 14:12] (current) – emoreno
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 **Created:** 05/10/2019 **Created:** 05/10/2019
 \\ \\
-**Reviewed:** <color #ed1c24>In Progress</color>+**Reviewed:** 05/28/2025
 \\ \\
-**Revised:** <color #ed1c24>In Progress</color>+**Revised:**  05/28/2025
  
  
 <div #message></div> <div #message></div>
  
-<WRAP round intro>The purpose of this document is to guide you through the process of ending the old fiscal year 2023-2024 (FY 4) and beginning the new fiscal year 2024-2025 (FY 5). LEAs must be in the last accounting period prior to beginning this process.+<WRAP round intro>The purpose of this document is to guide you through the process of ending the old fiscal year 2024-2025 (FY 5) and beginning the new fiscal year 2025-2026 (FY 6). LEAs must be in the last accounting period prior to beginning this process. 
 The following processes are covered in this document: The following processes are covered in this document:
  
-  * Copy the 2023-2024 fiscal year (FY 4) funds to a new historical file ID 4 so that you can continue to access FY 4 data. +  * Copy the 2024-2025 fiscal year (FY 5) funds to a new historical file ID 5 so that you can continue to access FY 5 data. 
-  * Close the 2023-2024 accounts for revenues, expenditures, other resources, and other uses in file ID C. +  * Close the 2024-2025 accounts for revenues, expenditures, other resources, and other uses in file ID C. 
-  * Copy the balance sheet accounts (cash, accounts payable, etc.) from 2023-2024 (FY 4) funds to fiscal year 2024-2025 (FY 5) funds in file ID C. +  * Copy the balance sheet accounts (cash, accounts payable, etc.) from 2024-2025 (FY 5) funds to fiscal year 2025-2026 (FY 6) funds in file ID C. 
-  * Delete all FY 4 transactions and funds in file ID C (the transactions are still accessible in file ID 4) unless the LEA chooses to keep some FY 4 funds open with prior year transactions. +  * Delete all FY 5 transactions and funds in file ID C (the transactions are still accessible in file ID 5) unless the LEA chooses to keep some FY 5 funds open with prior year transactions. 
-  * Move the approved budget for FY 4 to Finance file ID C.+  * Move the approved budget for FY 6 to Finance file ID C.
   * Prepare to move next year payroll to the current year payroll.    * Prepare to move next year payroll to the current year payroll. 
  
 VCV August year-end LEAs should ensure that the August payroll accruals are processed and interfaced to Finance. Reference the [[academy:business_payroll_augustaccruals|August Accruals]] document for more information. VCV August year-end LEAs should ensure that the August payroll accruals are processed and interfaced to Finance. Reference the [[academy:business_payroll_augustaccruals|August Accruals]] document for more information.
  
-VCV June year-end LEAs should reference the [[academy:business_payroll_eoyaccrualsjuneyearendleas|EOY Accruals for June Year-End Schools]] document to address payroll accruals.+VCV June year-end LEAs should reference the [[academy:business_payroll_eoyaccrualsjuneyearendleas|EOY Accruals for June Year-End LEAs]] document to address payroll accruals.
  
 This document assumes you are familiar with the basic features of the ASCENDER Business system and have reviewed the [[academy:business_overview_guide|ASCENDER Business Overview guide]]. This document assumes you are familiar with the basic features of the ASCENDER Business system and have reviewed the [[academy:business_overview_guide|ASCENDER Business Overview guide]].
 +
 +**Click here for** [[https://docs.google.com/document/d/1Jp978JX1zduaJACvV3tscsM9h8IDPSmiI8dur7EJm6w/edit?tab=t.0#heading=h.d9wuyat1b9af|The Exchange Instructions]].
  
 </WRAP> </WRAP>
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 <WRAP center round alert> <WRAP center round alert>
-Prior to beginning this process, complete all end-of-month closing procedures **except** the final accounting period (Both the current and next accounting periods should be 06 for June year-end LEAs and 08 for August year-end LEAs).+Prior to beginning this process, complete all end-of-month closing procedures **except** the final accounting period. Both the current and next accounting periods should be 06 for June year-end LEAs and 08 for August year-end LEAs.
 </WRAP> </WRAP>
  
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   - ++Update user accounts.|{{page>general:financeeoyprocess:updateuseraccounts&inline}}++   - ++Update user accounts.|{{page>general:financeeoyprocess:updateuseraccounts&inline}}++
   - ++Notify Human Resources/Payroll department to proceed with first payroll.|{{page>general:financeeoyprocess:proceedtohr&inline}}++   - ++Notify Human Resources/Payroll department to proceed with first payroll.|{{page>general:financeeoyprocess:proceedtohr&inline}}++
-  - ++Create ASCII file|{{page>general:financeeoyprocess:createasciifile&inline}}++ 
   - ++(If applicable) Perform Asset Management EOY steps.|{{page>general:financeeoyprocess:ameoysteps&inline}}++   - ++(If applicable) Perform Asset Management EOY steps.|{{page>general:financeeoyprocess:ameoysteps&inline}}++
   - ++(If applicable) Update Grants and Projects tables.|{{page>general:financeeoyprocess:updategrantsprojects&inline}}++   - ++(If applicable) Update Grants and Projects tables.|{{page>general:financeeoyprocess:updategrantsprojects&inline}}++
 +
 +----
 +
 +=====Post-Finance EOY Process Tasks=====
 +
 +  - ++Create ASCII file|{{page>general:financeeoyprocess:createasciifile&inline}}++
 +
  
 ---- ----
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 =====Additional Resources===== =====Additional Resources=====
  
-The below document can be used by those LEAs bringing forward balances from the historical file ID after the Fiscal Year Close process is complete.+The below document can be used by LEAs bringing forward balances from the historical file ID after the Fiscal Year Close process is complete.
  
 [[academy:roll_balances_supplement|Roll Balances Supplement]] [[academy:roll_balances_supplement|Roll Balances Supplement]]
  
  
academy/business_finance_eoyprocess.1715019730.txt.gz · Last modified: 2024/05/06 18:22 by emoreno

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