Copying and Clearing Funds in Fiscal Close (Method 1)

Copy and Clear Funds is the fourth step in Method 1 of Fiscal Close. This requires that you have completed at least step 1, Posting, and step 2, Printing a Fund Activity Report. Optionally, you may have created statistical reports.

To copy and clear funds:

  1. Make sure you are in the Fiscal Close function and that the Copy and Clear Funds tab is selected.
  2. Select the option to Archive "Current Funds" amounts to "Old Funds", and "Hierarchies" to "Old Hierarchies".

Archiving is optional, but if you want to do it, you must do so before continuing to the next step in the fiscal closing process (Adjust Funds).

Avoid Overwriting the Archive With Cleared Funds

If you repeat this step, clear the check box for the Archive "Current Funds" amounts to "Old Funds", and "Hierarchies" to "Old Hierarchies" option. Copying and clearing funds more than once with the option selected overwrites archived fund values with cleared fund values ('0').

  1. To reset the year-to-date number of orders to zero for the new fiscal period, select # Orders Year-to-Date for all funds.
  2. To reset the year-to-date number of payments to zero for the new fiscal period, select # Payments Year-to-Date for all funds.
  3. Select all or some of the appropriations and expenditures to reset to zero (0.00).
    All appropriations and expenditures
    To reset appropriations and expenditures to zero for all funds, select the Appropriations for all funds and Expenditures 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 and expenditures
    To reset a majority of the appropriations and expenditures to zero, select the Appropriations for all funds and Expenditures for all funds check boxes. Then click the individual appropriations and expenditures 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 and expenditures to zero, do not select the Appropriations for all funds and Expenditures for all funds check boxes. Instead, click the individual appropriations and expenditures cells for the funds you want to reset to zero. The cells will be highlighted and display 0.00.
  4. To make sure the encumbrance amounts roll forward to the next fiscal year, do not select the option to clear Encumbrances for all funds.
  5. After you have made all your selections, choose Process to copy and clear fund data.

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

  1. Choose Next to go on to the next step: Adjust Funds.
See also:
Fiscal Closing