Sidebar
budget:utilities:updatelastyearclosing
Update Last Year Closing - BUD6000
Budget > Utilities > Update Last Year Closing
This utility is used to automatically transfer account codes and their closing amounts from the Finance application to the Budget master file. This utility allows you to update the Last Year Closing Amount column in the budget file with the current year-to-date amounts (using either Amended or Actual amounts) for all accounts in the Finance application. This utility is generally used to update the Next Year Closing Amount column after all audit entries have been entered and balanced in Finance. By selecting a file ID, you can choose where the closing entries exist, and copy them to Budget. Processing this selection multiple times does not create duplicate accounts, but updates existing budget balances and account codes being transferred from Finance to Budget.
Records that exist in the Mass Change Account Codes, Mask Crosswalk option affect the accounts that are created or updated when using this option.
Update budget data:
| Field | Description |
|---|---|
| From GL File ID | Select a from GL file ID. The accounting period values are changed according to the current and next accounting period values for the selected GL file ID. |
❏ Click Retrieve to update the Accounting Period options and fund information.
❏ Under From GL, select one of the following options:
| Amended | Select if you have posted Journal Budget or Amended Budget entries to Estimated Revenue or Appropriations, and selected Original Budget Only in the Move Budget to Finance utility. Note: If Capture Original Budget Flag on District Budget Options is not selected or if Original Budget Only on Utilities > Move Budget to Finance is not selected, the original budget amount viewed in Budget Amendment will not display. If one or both of these features has not occurred prior to performing this process, zero amounts or only those amounts that had Capture Original Budget Flag selected on journal budget or current year amendment transactions will update the current Original Budget field. |
|---|---|
| Actual | Select if you have posted entries that have increased or decreased Realized Revenue, Encumbrance, or Expenditures in Finance. |
❏ Under Account Code, select one of the following options:
| Include Inactive | Select to include inactive account codes and amounts in the list of available account codes to be transferred. |
|---|---|
| Use Crosswalk | Select to crosswalk any account code elements for the selected fund/years that exist in the Mask Crosswalk utility. See Mask Crosswalk (Mass Change Account Codes). |
❏ Under Accounting Period, select one of the following options:
| Current | The accounting period is set to Current by default, which uses the current accounting period amounts from the Finance application to populate the Budget application amounts. |
|---|---|
| Next | Select to create Budget data using the next accounting period amounts in the Finance application. |
❏ Under Object Description, select one of the following options:
| Description from GL (New Account Codes) | Select to update the new Budget account code descriptions based on the general ledger description. |
|---|---|
| Description from GL (All Account Codes) | Select to update the object description for all account codes. |
| Description from Budget Object Code Table | Select to update the object description for new account codes only. |
❏ All available fund/year codes from the Finance application are displayed on the left side of the page. Select the available fund/year codes to move to the right side of the page for the budget account code tables, general ledger accounts, and amounts 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 execute the process. The Update Last Year Closing Report is displayed with the old and new account codes that were updated, and with the Last Year Closing Amount column populated. Review the report.
❏ Click Process to update the budget data.
A message is displayed indicating that the process was successfully completed. Click OK.
Note: If there are account components that exist in the Finance file ID that do not exist in the Budget file ID account code table, a Budget Error Report of the account components that must be updated in the Budget account code table is produced, and you are not allowed to proceed until these account components are updated in Budget.
Caution: If there are accounts in the Budget file ID that have been updated that do not exist in the Finance file ID, those accounts are not updated, and the totals in Finance and Budget may not match.
budget/utilities/updatelastyearclosing.txt · Last modified: 2021/01/27 17:19 by emoreno