Clearing Funds in Fiscal Close (Method 2)

Clear Funds is the fifth step in Method 2 of Fiscal Close. This requires that you have completed the previous steps:

• Posting
• Printing a Fund Activity Report
• Statistics and Reports
• Changing Funds in Orders

To clear funds:

1. Make sure you are in the Fiscal Close function and that the Clear Funds tab is selected.
2. To reset the year-to-date number of orders to zero for the new fiscal period, select # Orders Year-to-Date for all funds.
3. To reset the year-to-date number of payments to zero for the new fiscal period, select # Payments Year-to-Date for all funds.
4. Select all or some of the appropriations, expenditures, and encumbrances to reset to zero (0.00) for the new fiscal year. (Fund transfers made in the previous Change Funds step, if any, have been saved and will be retrieved in the next step of the fiscal closing process.)

   All appropriations, expenditures, and encumbrances

   To reset appropriations, expenditures, and encumbrances to zero for all funds, select the Appropriations for all funds, Expenditures for all funds, and Encumbrances for all funds check boxes. Note that the Funds table highlights and displays 0.00 instead of the original amounts for the appropriations and expenditures columns.

   Some appropriations, expenditures, and encumbrances

   To reset a majority of the appropriations, expenditures, and encumbrances to zero, select the Appropriations for all funds, Expenditures for all funds, and Encumbrances for all funds check boxes. Then click the individual appropriations, expenditures, and encumbrances cells for the funds you do not want to reset to zero. Those cells will display their original amounts and will not be reset to zero.

   To reset a minority of the appropriations, expenditures, and encumbrances to zero, do not select the Appropriations for all funds, Expenditures for all funds, and Encumbrances for all funds check boxes. Instead, click the individual appropriations, expenditures, and encumbrances cells for the funds you want to reset to zero. The cells will be highlighted and display 0.00.

5. After you have made all your selections, choose Process. The amounts, as selected, are reset to zero.

After a fund has been processed, its original amounts cannot be restored. However, you can select more funds to change and Process again.

6. Choose Next to go on to the next step: Adjust Funds.

See also:

Fiscal Closing