Fiscal Year Closing

Use this option to change the method of fiscal closing you want to perform in Acquisitions.

When you choose this option, you will see your current setting and a prompt to change it.

Current Setting: Method One
Change current setting? (y/n) y

Switch to Method: (1-3) 3

Your choices are:

Method One (1)

Library maintains one set of funds (appropriations and expenditures are reset to zero; encumbrances are rolled over).

Method Two (2)

Library maintains two sets of funds—this year's and last year's (change fund codes in order records and transfer this year's fund amounts to last year's funds).

Method Three (3)

Library sets up new funds for each fiscal year.

Method One and Three

  1. At the Switch to Method: (1-3) prompt, enter '1' to switch to Method One. Or, enter '3' to switch to Method Three.

  2. You are prompted to confirm your selection:

    Change setting to Method One? (y/n)

    or

    Change setting to Method Three? (y/n)

    Enter 'y' to change the setting. You are returned to the Acquisitions Options menu.

See Fiscal Closing for more information.

Method Two

  1. At the Switch to Method: (1-3) prompt, enter '2' to switch to Method Two.

  2. Specify whether fund adjustments will be made automatically or manually.

    Automatic: Adjustments performed automatically
    Manual: Library makes fund adjustments manually from printouts

    Automatic or Manual? [a,m] _

    Enter 'A' or 'M'.

  3. If you answered Automatic (A) in the previous step, specify how you want the system to process appropriations and expenditures during fiscal close, by copying or by transferring. If you answered Manual (M) in the previous step, skip to the next step.

    Copy: Appropriations and Expenditures copied from this year's funds to last year's
    Transfer: Cash balances moved to Appropriations, Expenditures are reset to zero.

    Copy or Transfer? [c,t] _

    Enter 'C' or 'T'.

  4. You will see one of the following prompts to confirm your selections for this option.

    Change setting to Method Two|Automatic|Copy? (y/n)
    Change setting to Method Two|Automatic|Transfer? (y/n)
    Change setting to Method Two|Manual? (y/n)

    Enter 'y' to confirm your selection. You are returned to the Acquisitions Options menu.

See Fiscal Closing for more information.