Finance Monthly Closing Checklist
Purpose: The following instructions are for closing PeopleSoft (not business processes).
Campus Solutions and Human Capital Management should be completed first because they interface with Cash, AP, Projects, Billing and General Ledger.
Audience: Finance Staff.
You must have at least one of these local college managed security roles:
- <refer to QRGs in the "Explanation" column for required Roles>
If you need assistance with the above security roles, please contact your local college supervisor or IT Admin to request role access.
| Order | Abb | Module | Explanation |
|---|---|---|---|
| * | SF | Student Financials | Campus Solutions Pillar must be completed before Finance. |
| * | PAY | Payroll | Human Capital Management Pillar must be completed before Finance. |
| 1 | EX | Expenses | Expenses must be completed before AP. EX interfaces with AP. |
| 2 | PU | Purchasing (Requisitions) | Close/Reconcile open POs and REQs. |
| 3 | AP | Accounts Payable | AP must be completed before CM. AP interfaces with CM. |
| 4 | GM/PC | Grants Project Costing | SF,PAY,EX,PO AP must be completed before GM/PC. SF,PAY,EX, GL, PO AP interfaces with (run cost collection) GM/PC. |
| 5 | CA | Contracts | CA must be completed before BI. CA interfaces with BI. |
| 6 | BI | Billing | Billing must be completed before AR. BI interfaces with AR. |
| 7 | AR | Accounts Receivable | AR must be completed before CM. AR interfaces with CM. |
| 8 | CM | Cash Management (Treasury) | CM must be completed before GL. CM interfaces with GL. |
| 9 | AM | Asset Management | AM must be completed before GL. AM interfaces with GL. |
| 10 | KK | Commitment Control | AP/PO/EX/GL expense transactions must be completed before viewing KK; each module interfaces with KK. |
| 11 | GL | General Ledger | SF PAY journal activity from GL must be posted before GM/PC runs cost collection. GL interfaces with GM/PC. All source transactions (AR, AP, AM, BI, CA, CM, EX, GM, PAY, PC) must be posted to the ledger before closing GL. |
Additional information contained in QRG 9.2 Expenses Monthly Closing Document
| STEP | Module | Description | Explanation | PeopleSoft Navigation | Close By Date After Month End (Proposed number of days is subject to change) |
Assigned To: |
| 1 | EX | Expense Processing | Process Work-in-Process Expense transactions through liability and payment posting. Refer to QRG "Performing T&E Expense Processing". | Main Menu - Travel and Expenses - Process Expenses - Expense Processing | X Business Days | College |
| 2 | RT | Query Viewer | Identify the status
of Travel Authorizations, Cash Advances, and Expense Reports. -Run the Outstanding TA query QFS_EX_TRAVEL_AUTH_NOT_CLOSED -Run the Outstanding CA query QFS_EX_CA_NOT_CLOSED -Run the Outstanding ER query QFS_EX_ER_NOT_CLOSED. |
Main Menu - Reporting Tools - Query - Query Viewer | X Business Days | College |
| 3 |
EX | Delete Travel Authorizations | Delete unnecessary Travel Authorizations that are not submitted, are denied or have been cancelled. Refer to QRG "Deleting Travel Authorizations". | Main Menu - Employee Self Service - Travel and Expenses - Travel Authorization - Delete | X Business Days | College |
| 4 | EX | Delete Cash Advances | Delete out unnecessary or Cash Advances that are not submitted. Refer to QRG "Deleting Cash Advances". | Main Menu - Employee Self Service - Travel and Expenses - Cash Advances - Delete | X Business Days | College |
| 5 | EX | Delete Expense Reports | Delete out unnecessary or Expense Reports that are not submitted. Refer to QRG "Deleting Expense Reports". | Main Menu - Employee Self Service - Travel and Expenses - Expense Reports - Delete | X Business Days | College |
| 6 | EX | Reconcile Cash Advances | Reconcile un-reconciled Cash Advances. Refer to QRG "Manually Reconcile Cash Advances". | Main Menu - Travel and Expenses - Manage Accounting - Reconcile Cash Advance | X Business Days | College |
| 7 | EX | Rollover Travel Authorizations | Rollover Travel Authorizations that are encumbered in current year, but Travel and expenditures will occur in next fiscal year. Refer to QRG "Rolling Over Travel Authorizations". | Main Menu - Travel and Expenses - Manage Accounting - Rollover Travel Authorization | X Business Days | College |
| 8 | EX | Close Cash Advances | Close out unnecessary Cash Advances. Refer to QRG "Closing Cash Advances". | Main Menu - Travel and Expenses - Process Expenses - Close Expenses - Mark Cash Advance for Close | X Business Days | College |
| 9 | EX | Close Expense Reports | Close out unnecessary Expense Reports. Refer to QRG "Closing Expense Reports". | Main Menu - Travel and Expenses - Process Expenses - Close Expenses - Mark Expense Report for Close | X Business Days | College |
| 10 | EX | Cancel Travel Authorizations | Cancel any unnecessary Travel Authorizations that have been approved, but will not be used. Refer to QRG "Cancelling Travel Authorizations". | Main Menu - Employee Self Service - Travel and Expenses - Travel Authorizations - Cancel | X Business Days | College |
| 11 | AP | Run Expense Pay Cycle | Process pending Expense payments staged in AP. Refer to QRG "Processing an EX Pay Cycle". |
Main Menu - Accounts Payable - Payments - Pay Cycle Processing - Pay Cycle Manager |
X Business Days |
College |
| 12 | EX | Expense Processing | Verify that all process have been ran and no new expense reports are entered with an accounting date within the month end period. | Main Menu - Travel and Expenses - Process Expenses - Expense Processing | X Business Days | College |
| 13 | RT | Query Viewer | Identify the status
of Travel Authorizations, Cash Advances, and Expense Reports. -Run the Outstanding TA query QFS_EX_TRAVEL_AUTH_NOT_CLOSED -Run the Outstanding CA query QFS_EX_CA_NOT_CLOSED -Run the Outstanding ER query QFS_EX_ER_NOT_CLOSED. |
Main Menu - Reporting Tools - Query - Query Viewer | X Business Days | College |
| 14 | - | Status Update | Notify SBCTC ERP team that all EX transactions are complete. | - | X Business Days | College |
| 15 | GL | Subsystem Journals | Generate Sub-system Journals. Refer to QRG "Generating Subsystem Journals". | Main Menu - General Ledger - Journals - Subsystem Journals - Generate Journals | X Business Days | ERP Support |
| 16 | RT | Query Viewer | Run a query to
verify that all of the subsystem journals have been posted QFS_GL_EX_ACCTG_LINE. |
Main Menu - Reporting Tools - Query - Query Viewer | X Business Days | College |
Additional information contained in QRG 9.2 Accounts Payable and Purchasing Monthly Closing Document
| STEP | Module | Description | Explanation | PeopleSoft Navigation | Close By Date After Month End (Proposed number of days is subject to change) |
Assigned To: |
| 1 | PU | Reconcile/Close REQs | Reconcile/Close completed Requisitions (REQs). Run the REQ Work-in-Process query QFS_PO_REQ_WIP. |
Main Menu - Purchasing - Requisitions - Reconcile Requisitions - Close Requisitions | X Business Days | College |
| 2 | PU | Reconcile/Close POs | Reconcile/Close
completed Purchase Orders (POs). Run the PO Work-in-Process query QFS_PO_PO_WIP_ENCUMBRANCE. |
Main Menu - Purchasing - Purchase Orders - Reconcile POs - Close Purchase Orders | X Business Days | College |
| 3 | PU | Relieve Residual Encumbrances - For Complete POs Only | Identify remaining
Pre-Encumbrance balances for POs that are complete, but are partially
vouchered against. Run the PO Open Encumbrance query QFS_PO_OPEN_ENCUMBRANCE. |
Main Menu - Purchasing - Purchase Orders - Add/Update POs | X Business Days | College |
| 4 | PU | Reconcile PCard | Reconcile PCard transactions. Refer to QRG "Reconciling P-Card Transactions/Statements Manually". | Main Menu - Purchasing - Procurement Cards - Reconcile - Reconcile Statement | X Business Days | College |
| 5 | PU | Post PCard | Post the journal entry to record all Purchasing Card (Procurement Card) charges, if applicable. | Main Menu - Purchasing - Procurement Cards - Reconcile - Reconcile Statement | X Business Days | College |
| 6 | AP | Voucher Interfaces | Verify that all Expense Campus Solutions Refund vouchers have been interfaced to the AP Module and are ready for processing. | - | X Business Days | College |
| 7 | AP | Regular Entry | All vouchers for period must be entered with an accounting date within the month end period. | Main Menu - Accounts Payable - Vouchers - Add/Update - Regular Entry | X Business Days | College |
| 8 | AP | Post Vouchers | All vouchers for period must be posted in Accounts Payable. Refer to QRG "Posting Vouchers in Batch". | Main Menu - Accounts Payable - Batch Processes - Vouchers - Voucher Posting | X Business Days | College |
| 9 | RT | Query Viewer | Verify that all
voucher have been completed and posted. Run the AP Vouchers Work-in-Process query QFS_AP_VCHR_PYMT_WIP. |
Main Menu - Reporting Tools - Query - Query Viewer | X Business Days | College |
| 10 | RT | Query Viewer | Verify that all
voucher have been completed and posted. Run the AP Vouchers Posted query IN PROCESS. |
Main Menu - Reporting Tools - Query - Query Viewer | X Business Days | College |
| 11 | AP | Pay Cycle Manager | Run all pay cycles to completion as of end of period. Refer to QRG "Running a Pay Cycle". | Main Menu - Accounts Payable - Payments - Pay Cycle Processing - Pay Cycle Manager | X Business Days | College |
| 12 | RT | Query Viewer | Verify that all
voucher have been recorded. Run the AP Voucher Pay Status query IN PROCESS. |
Main Menu - Reporting Tools - Query - Query Viewer | X Business Days | College |
| 13 | - | Status Update | Notify SBCTC ERP team that all AP transactions are complete. | - | X Business Days | College |
| 14 | GL | Subsystem Journals | Generate Sub-system Journals. Refer to QRG "Generating Subsystem Journals". | Main Menu - General Ledger - Journals - Subsystem Journals - Generate Journals | X Business Days | ERP Support |
| 15 | RT | Query Viewer | Run a query to verify that all of the subsystem journals have been posted QFS_GL_AP_ACCTG_LINE. | Main Menu - Reporting Tools - Query - Query Viewer | X Business Days | ERP Support |
| 16 | - | Status Update | Notify Colleges on the status of AP Journal Generation. | - | X Business Days | ERP Support |
| 17 | AP | Reconcile Liability | Reconcile AP Liabilities: This reconciliation should be completed after all vouchers and payments have been posted and journal generated. The list below represents the various exports and tools available to assist you with this reconciliation. Run the AP Open Liability Report. Run the Trial Balance – Fund (GLS7012) report to obtain the AP open liabilities for account 502000. Run the APY1406 Payables Open Liability Report (Detail) for list of open vouchers not yet paid. Run the APY1400 Open Liability Reconciliation Report to compare the AP and GL Open Liability balances. Refer to QRG IN PROCESS. | Main Menu - Accounts Payable - Reports - Voucher Reconciliation - Payables Open Liability | X Business Days | College |
| Main Menu - Accounts Payable - Reports - Voucher Reconciliation - Open Liability Reconciliation | X Business Days |
| STEP | Module | Description | Explanation | PeopleSoft Navigation | M/E | Y/E | Assigned To: |
| 1 | PC | Cost Collection/Revenue Recognition | Creating Billable lines for Grants/Contracts and CAPC Journals. | Main Menu - Project Costing - Cost Collection | X | X | SBCTC |
| 2 | RT | Query Viewer | Run Query to find any lines that are Over the billing limit in the Contract. Refer to QRG "OLT Rows (Over the Limit)". | Main Menu - Reporting Tools - Query Viewer - CTC_PR_OLT_ROWS | X | X | College |
| 3 | CA | Creating Invoices | Creating invoices for Grants. Refer to QRG "Reimbursable Grant/Contract Billing" or "Fixed Price Billing". | Main Menu - Customer Contract - Schedule and Process Billing - Process as Incurred (Reimbursable Contracts) or Process Other Billing Method (Fixed Price Contracts) | X | X | College |
| BI | Creating Invoices | Creating invoices for Projects. Refer to QRG "Program Project Billing". | Main Menu - Billing - Maintain Bills - Standard Billing | X | X | College | |
| 4 | BI | Billing to Project Costing | Updates information about invoiced bills back to Contracts. | Main Menu - Billing - Generate Invoices - Utilities - Update Contract/Projects Data | X | X | SBCTC |
| 5 | PC | Retrieve Billing Items | Places all approved-billed rows into the PROJ_RESOURCE table. | Main Menu - Project Costing- Revenue Collection - Retrieve Billing Items | X | X | SBCTC |
Additional information contained in QRG 9.2 Billing Monthly Closing Guide
| STEP | Module | Description | Explanation | PeopleSoft Navigation | M/E | Y/E | Assigned To: |
| 1 | Make sure all Bills and Lines have been processed. | ||||||
| BI | Bills Not Invoiced | Confirm that there are no Bills Not Invoiced; (a) Refer to QRG "Researching and Updating Non-Invoiced Bills". OR (b) Verify there are no items showing under "Invoices Not Finalized in the Billing WorkCenter. Change applicable Bills to RDY (Ready) status and run the Single Action Invoice process. |
(a) Main Menu - Billing
- Locate Bills - Bills Not Invoiced Note: This requires you to have the Customer Number or Contract Number. (b) Main Menu - Billing - Billing WorkCenter - My Work - Invoices Not Finalized |
X | X | College | |
| BI | Lines Not Invoiced | Confirm that there are no Lines Not Invoiced. Refer to QRG "How to Review Bill Lines Not Invoiced". | Main Menu - Billing - Locate Bills - Lines Not Invoiced | X | X | College | |
| 2 | Check/Correct any transactions with errors. | ||||||
| BI | Correct Staged Acctg Errors | Confirm and Correct any entries that have been staged with accounting errors. Refer to QRG "(In Process)". For more information on Errors, please refer to the QRG "Billing Interface Error Codes". | Main Menu - Billing - Maintain Bills - Correct Staged Acctg Errors | X | X | College | |
| BI | Correct Budget Check Errors | Confirm and Correct any entries with budget check errors. Refer to QRG "(In Process)". | Main Menu - Billing - Maintain Bills - Correct Budget Check Errors | X | X | College | |
| 3 | AR | Receivables Update | If you corrected any errors, you will want to run AR Update before continuing. If not, continue to setup 4. Refer to QRG "Processing Receivables Update". | Request processing by putting a ticket in service desk (Note: this is automatically run daily at 12 PM and 9 PM) | X | X | ERP Support |
| 4 | Confirm all billings have been pushed from BI have been received in AR | ||||||
| RT | Query Viewer | Review items in the "Invoices Not Integrated to AR" section of the Billing WorkCenter. Make corrections as needed or reach out to SBCTC for assistance. | Main Menu - Billing - Billing WorkCenter - My Work - Invoices Not Integrated to AR | X | X | College | |
| 5 | GL | Generate Sub-system
Journals. Refer to QRG "Generating Sub-system Journals". Runs Nightly. |
Main Menu - General Ledger - Journals - Subsystem Journals - Generate Journals | X | X | ERP Support | |
| 6 | Confirm accounting entries balance to GL Account. | ||||||
| Contact the SBCTC Accounting office for more information. | X | X | College | ||||
| RT | Query Viewer | Run a query that shows all the transactions in AM balance to the amount in the GL. | QFS_GL_AM_ACCTG_LINE | X | X | College |
Additional information contained in QRG 9.2 Accounts Receivable Monthly Closing Guide
The steps below should be used by Agencies, Community/Technical Colleges and Production Support to maintain and monitor the Accounts Receivable module in preparation for month-end close. The items listed below are performed on a weekly, monthly or other interval depending on the step.
Agencies/Community & Technical Colleges
SBCTC and Community/Technical Colleges are responsible for reviewing their Pending Items, Deposits, Payments, Direct Journals, and Maintenance Worksheets to ensure that all valid transactions are posted before the __________ CALENDAR day of the following month. They are also responsible for correcting any posting errors that result from transactions that are not processed by the month-end close.
| STEP | Module | Description | Explanation | PeopleSoft Navigation | M/E | Y/E | Assigned To: |
| 1 | Make sure that all of the pending groups (online or external item groups) have been posted. | Main Menu - Accounts Receivable - Pending Items - Review Items - Group Status | |||||
| AR | Pending Group Status | Review the group statuses for Pending Items - You are looking for anything in Error or Not Posted Status. Refer to QRGs: Viewing Pending Item Status, Viewing Groups Set to Posts, Viewing Groups Not Set to Post. | Main Menu - Accounts Receivables - Pending Items - Review Items Groups Not Set to Post - Posting Status set to "Never Posted and Error Groups" Main Menu - Accounts Receivables - Pending Items - Review Items - Groups Set to Post - Post Action set to "Batch Priority and Standard" |
X | X | College | |
| 2 | Make sure that all Payments have been applied and distributed for the month (period of closing). | AR Workcenter - Payments - Incomplete Payments Reporting Tools - Query - Query Viewer QFS_AR_PAYMENT_STATUS (To View Incomplete Payments) |
|||||
| AR | Online Payments (a) | Confirm that all payment groups not posted have been completed. If there are any deposits showing here, then they are not complete. | Main Menu - Accounts Receivable - Payments - Review Payments - Incomplete Payments | X | X | College | |
| AR | Online Payments (b) | Check the Payment Worksheet Action Page, Posting Action is set to 'Batch Standard'. If this option is grayed out, then select 'Delete Payment Group', and then 'Delete Worksheet'. | Main Menu - Accounts Receivable - Payments - Apply Payments - Update Worksheet | X | X | College | |
| AR | Online Payments (c) | If payments were found in step 2, then complete the deposits (updating dates if necessary and possible. If any dates are grayed out, you will need to submit a ticket). |
Main Menu - Accounts Receivable - Payments - Online Payments - Regular Deposit or Express Deposit |
X | X | College | |
| AR | Direct Journal Payments | Complete the distribution of an remaining direct journal payments. Refer to QRG "Entering a Regular Direct Journal Payment". | Main Menu - Accounts Receivable - Payments - Direct Journal Payments - Create Accounting Entries | X | X | College | |
| AR | Apply Payments | Complete the worksheet process for any payments that have not been fully applied. Refer to QRG "Using a Payment Worksheet to Apply a Payment". | Reporting Tools - Query - Query Viewer AR_DB_Payments (To View incomplete payment worksheets. You will need to download the report and sort it) Main Menu - Accounts Receivable - Payments - Apply Payments - Create Worksheet, Update Worksheet, Finalize, etc |
X | X | College | |
| 3 | AR | Receivables Update | To make sure that all of the billings and payments have been processed, you need to run this process. Refer to QRG "Processing Receivables Update". | Request Special Processing by putting a ticket in service desk (Note: this is automatically run at noon and 9 PM) | X | X | ERP Support |
| 4 | Correct any posting errors. | Reporting Tools - Query - Query Viewer AR_DB_Posting Errors (To View Posting Errors by Type) | |||||
| AR | Online Items | Check to be sure no errors are pending here - If there are, fix them. | Main Menu - Accounts Receivable - Receivables Update - Correct Posting Errors - Online Items. | X | X | College | |
| AR | Worksheet | Check to be sure no errors are pending here - If there are, fix them. | Main Menu - Accounts Receivable - Receivables Update - Correct Posting Errors - Worksheet. | X | X | College | |
| AR | Transfer | Check to be sure no errors are pending here - If there are, fix them. | Main Menu - Accounts Receivable - Receivables Update - Correct Posting Errors - Transfer. | X | X | College | |
| AR | Unpost | Check to be sure no errors are pending here - If there are, fix them. | Main Menu - Accounts Receivable - Receivables Update - Correct Posting Errors - Unpost. | X | X | College | |
| AR | Payment | Check to be sure no errors are pending here - If there are, fix them. | Main Menu - Accounts Receivable - Receivables Update - Correct Posting Errors - Payment. | X | X | College | |
| 5 | GL | Generate Sub-system Journals. Refer to QRG "Generating Subsystem Journals". | Main Menu - General Ledger - Journals - Subsystem Journals - Generate Journals. | X | X | ERP Support | |
| 6 | Prep for Reconciling | Review Subledger Accounting Entries: (a) Review the months invoice transactions, distribution and status. (b) Ensure all AR item transactions have been processed by Journal Generator. |
(a) Reporting Tools - Main Menu - Query - Query Viewer BI_IVC_ANALYSIS. (Monthly Invoice Analysis) - the status should be D or Distributed with a Journal ID. (b) Reporting Tools - Main Menu - Query - Query Viewer QFS_AR_ITEM_DIST_ALL. (Payments Distributed to the GL for the month). |
X | X | College | |
| 7 | Reconcile all of the transactions created in AR balance to the amount in the GL. |
If you do not already have an AR to GL reconciliation process, reach out to the SBCTC Accounting Team for advice. | X | X | College |
| STEP | Module | Description | Explanation | PeopleSoft Navigation | M/E | Y/E | Assigned To: |
| 1 | Run Automated Accounting (Optional if your college has this business process setup). |
||||||
| CM |
Automated Accounting |
Run Automated Accounting (Optional if your college has this business process setup). |
Main Menu - Cash Management - Treasury Accounting - Automated Accounting |
X |
X |
College / This will be changing to ERP Support |
|
| 2 | Review the Semi Manual Reconciliation. | ||||||
| BK | Bank Transactions | All of the Bank Transactions for the period should be reconciled. Refer to QRG "Performing Semi-Manual Reconciliation". | Main Menu - Banking - Reconcile Statements - Semi-Manual Reconciliation | X | X | College | |
| BK | System Transactions | Review the remaining system transactions to be sure that there are not any that should have been reconciled. (There should be no unreconciled external transactions, no deposits in transit except for the last couple of days.) | Main Menu - Banking - Reconcile Statements - Semi-Manual Reconciliation | X | X | College | |
| NOTE: At this time, create an excel list of the system transactions remaining. This list is needed for reconciliation purposes. | |||||||
| 3 | Fix any Accounting Entries in Error status. | ||||||
| CM | Accounting Entries | External transactions with incomplete or incorrect coding will be marked with "Error" status. These transactions need to be fixed before they can be approved and picked up in the GL. Refer to QRG "Review and Modify Accounting Entries". | Main Menu - Cash Management - Treasury Accounting - Accounting Entries | X | X | College | |
| 3 | Add any Treasury Entries needed for manual bank statements. | ||||||
| CM | Accounting Entries | To create journal entries for Cash Management, you have to enter the transactions here. You can not just create a journal in the GL. Refer to QRG "Review and Modify Accounting Entries". | Main Menu - Cash Management - Treasury Accounting - Accounting Entries | X | X | College | |
| 4 | View and Approve any entries not in "Final" status. | ||||||
| CM | View and Approve Entries | This is the final place to make any changes to the distribution lines before they are picked up in the GL. Refer to QRG "View and Approve Accounting Entries". | Main Menu - Cash Management - Treasury Accounting - View/Approve Entries | X | X | College | |
| 5 | GL | Generate Sub-system Journals. Refer to QRG "Generating Subsystem Journals". | Main Menu - General Ledger - Journals - Subsystem Journals - Generate Journals | X | X | ERP Support | |
| 6 | Confirm accounting entries balance to GL Account. | ||||||
| RT | Query Viewer | Run a query that shows all of the transactions created in CM balance to the amount in the GL. | QFS_GL_TR_ACCTG_LINE | X | X | College |
| STEP | Module | Description | Explanation | PeopleSoft Navigation | M/E | Y/E | Assigned To: |
| 1 | Review Pre-AM Interface Table | ||||||
| AM | Review/Update Pre-Interface Data | Review to be sure that all pending entries have been sent to the Pre-AM Interface Staging Table for processing. Refer to QRG "Sending Asset Information to the Pre-AM Interface Table". | Main Menu - Asset Management - Send/Receive Information - Preview AP/PO Information | X | College | ||
| 2 | Interface AM Assets. | ||||||
| AM | Retrieve information | Process pending entries in Pre-AM Interface Staging Table into the regular AM Interface Staging table. Refer to QRG "Loading Data from AP/PO into Asset Management". | Main Menu - Asset Management - Send/Receive Information - Retrieve Info from AP/PO | X | College | ||
| 3 | Review the AM Interface Staging Screens. | ||||||
| AM | Review/Update Interface Data | Review staged asset entries in the AM Interface Staging Table. Refer to QRG "Loading Data from AP/PO into Asset Management". (Note: this is the same QRG as step 2 because it has more than one step). | Main Menu - Asset Management - Send/Receive Information - Interface Transactions - Review | X | College | ||
| 4 | Load Transaction into Asset Management. | ||||||
| AM | Load Transactions into Asset Management | This process moves any pending items in the AM Interface Staging table to the AM module as Asset entries. Refer to QRG "Review and Load AM Interface Data". | Main Menu - Asset Management - Send/Receive Information - Interface Transactions - Load into AM | X | College | ||
| 5 | Review Open Transactions. | ||||||
| Review Open Transactions | Review Open Transactions in preparation for the Depreciation Calculation process. Refer to QRG "Review Open Transactions". | Main Menu - Asset Management - Depreciation - Open Transactions - Review | X | College | |||
| 6 | Run the Depreciation Calculation Process. | ||||||
| AM | This process calculates depreciation. | Depreciation Calculation will be run only on Open Transactions that have not already been processed. Refer to QRG "Processing Depreciation Calculation". | Main Menu - Asset Management - Depreciation - Processing - Calculate | X | College | ||
| 7 | Create Accounting Entries. | ||||||
| AM | This process will queue any created accounting entries up for the next run of the journal generation for AM. | This process takes any Open Transactions where Depreciation Calculation has been performed and will stage the appropriate accounting entries that will be picked up by the Journal Generator Process. Refer to QRG "Creating Accounting Entries". | Main Menu - Asset Management - Accounting Entries - Create Accounting Entries | X | College | ||
| 8 | Close Depreciation. | ||||||
| AM | This process allows you to perform journal generation. | This process indicates to the system that you are finished making additions or adjustments that might affect depreciation related accounting entries for a given fiscal year period. Refer to QRG "Closing Depreciation". | Main Menu - Asset Management - Accounting Entries - Close Depreciation | X | College | ||
| 9 | Run Journal Generator. | ||||||
| GL | Generate Subledger Journals in the GL | This process creates the journal entries from the module Subledger into the GL. Refer to QRG "Generating Subsystem Journals". | Main Menu - General Ledger - Journals - Subsystem Journals - Generate Journals | X | ERP Support |
| STEP | Module | Description | Explanation | PeopleSoft Navigation | M/E | Y/E | Assigned To: |
| 1 | Actuals versus Budget balances | ||||||
| KK | Budget Overview | Perform an analysis of Actuals balances versus Budget balances. See ctcLink Reference Center QRG: Commitment Control Budget Reports. | Main Menu - Commitment Control - Budget Reports - Budget/Actuals Reconciliation | X | X | College | |
| 2 | Load and adjust fiscal year budget | ||||||
| KK | Import Budget Journals | Edit the excel file and save as CSV. Load CSV file to PeopleSoft Commitment Control. Post Budget Journal. See ctcLink Reference Center QRG: Entering a Budget in Commitment Control. | Main Menu - Commitment Control - Budget Journals - Import Budget Journals | X | X | College | |
| OR | |||||||
| KK | Enter Budget Journals | Input Budget lines directly. See ctcLink Reference Center QRG: Entering a Budget in Commitment Control. | Main Menu - Commitment Control - Budget Journals - Enter Budget Journals | X | X | College |
| STEP | Module | Description | Explanation | PeopleSoft Navigation | M/E | Y/E | Assigned To: |
| 1 | Journal Generate of Subsystems. | ||||||
| GL | Generate Journals | This should have been done in each of the individual Subledger prior to their closing. However, since we don't close Grants, Contracts, or Projects, this would be the time for those to be generated. (AR, AM, BI, AP, CM, PC ,PAY, SF, CASHIER). | Main Menu - General Ledger - Journals - Subsystem Journals - Generate Journals | X | X | ERP Support | |
| 3 | Review that all journals have been posted. | ||||||
| GL | Review journals | All journals must be in posted, unposted, or deleted status. | Main Menu - General Ledger - Journals - Journal Entry - Create/Update Journal Entries | X | X | College | |
| 4 | Review Closing Rules. | ||||||
| GL | Review/Modify the closing rules | Refer to QRG "Specify Close Rules for Year-End Close". | Main Menu - General Ledger - Close Ledgers - Closing Rules | X | College and ERP Support | ||
| 5 | Close Periods (General Ledger Only). | ||||||
| SETUP | Close GL period | Each college does not close the general ledger. This is done by SBCTC Accounting. | Main Menu - Set Up Financials/Supply Chain - Business Unit Related - General Ledger - Open Periods - Open Period Update | X | X | ERP Support | |
| 6 | Close Period 133 (Adjustment period - affects AFRS). | ||||||
| SETUP | Close Adjustment Period | This accounting period is open for a short time after YE closing to allow the colleges to make changes that will affect the AFRS reporting. | Main Menu - Set Up Financials/Supply Chain - Business Unit Related - General Ledger - Open Periods - Open Period Update | X | ERP Support | ||
| 7 | Close Period 133 (Adjustment period - Does NOT directly affect AFRS). | ||||||
| SETUP | Close Adjustment Period | This accounting period can only be used upon permission of the SBCTC director of finance for transactions that are material to finance statement. These adjustments will not directly affect AFRS, however, a manual adjustment will have to be done to align the information. | Main Menu - Set Up Financials/Supply Chain - Business Unit Related - General Ledger - Open Periods - Open Period Update | X | ERP Support | ||
| 8 | Run Year End Closing Process. | ||||||
| GL | Year End Close | This process closes the expenses into Period 0 for the balance sheet. Once this process is ran, users will no longer be allowed to post to the General Ledger or any adjustment periods. | Main Menu - General Ledger - Close Ledgers - Request Ledger Close | X | College | ||
| 9 | Create Financial Reports. | ||||||
| GL | Trial Balance | Once the Year-End Process is run, a review and reconciliation of the Balance Sheet should be performed to ensure that the amounts within the Asset, Liability, and Net Asset accounts are correct. | Main Menu - General Ledger - General Reports - Trial Balance | X | X | College | |
| 10 | Send to AFRS. | ||||||
| GL | Map GL Atributes/Agency Codes | Process the AFRS customization to crosswalk PeopleSoft distributions to AFRS. | Main Menu - General Ledger - CTC Custom - AFRS - AFRS - GL Attributes/Agency Codes | X | X | SBCTC | |
| GL | AFRS Transaction Code/Rules | Process the AFRS customization to crosswalk PeopleSoft distributions to AFRS. | Main Menu - General Ledger - CTC Custom - AFRS - AFRS Setup - AFRS Transaction Code/Rules | X | X | SBCTC | |
| GL | AFRS Report | Create AFRS file to upload transactions to OFM. | Main Menu - General Ledger - CTC Custom - AFRS - AFRS Report - Create AFRS Report | X | X | SBCTC |
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