Accounts Payable & General Ledger Kathleen Graw. Accounts Payable & General Ledger2.
Accounts Payable Accrual Process For FY06. Accounts Payable Accrual System Specialized Subsystem...
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Accounts Payable Accrual Process For FY06
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Transcript of Accounts Payable Accrual Process For FY06. Accounts Payable Accrual System Specialized Subsystem...
Accounts PayableAccrual Process
For FY06
Accounts Payable Accrual System
Specialized SubsystemEstablishes Estimated PayablesClears Current Liability PaymentsAllows
Complete audit trailVariety of reporting optionsAutomatic generation and offset entries
Transaction Table as Resource
Accounts Payable Accrual System
Designates Amounts Owed But Not Yet PaidPost Payments Against Set Up PayablesGenerates ReportsMust Use System
Allows Setup and Payment in Proper Years9529 in FY06 to 9510 in FY07
Page 1
Clearing Prior Year Payables
Run APY Batch Status ReportRun in FY06Clear Open, Closed, or Held BatchesJournal Entries and G/L Balances (FCS Control)Items Must be Deleted or Posted
Run Open Payables ReportRun from PRIXX Only Screen Print Payables Manual Page 3/4To/From 0-999999 Identify and Research Any Remaining Items
Clearing Prior Year Payables
Run G/L Detail ReportSee Year-End Closing ManualRun in FY06 from FIN menuGLD120 Object 9510
Page 4
Clearing Prior Year Payables
No Open Payables/ No 9510 Balance***YOU’RE Done***
No Open PCL’s BUT 9510 G/L BalanceTransactions From Other Than PCL ProgramJE to Credit 9510/Debit Appropriate Expense Account
Open Payables/No 9510 BalanceFY05 Entries Recorded as FY06 ExpensesReview Online Vendor History Z Out Payable-System Automatically Books Correctly JE to Correct the Booking if Accounts Are Different
Page 4
Clearing Prior Year Payables
Review Remaining Payable EntriesIf Not Needed
Z Out To RemoveDo Not Use C Function
If NeededZ Out Payable Do Not Use C Function Set Up as FY06 Estimated Payable
No Batch Creation For Z Transactions
Clearing Prior Year Payables
Rerun Open PayablesVerify No Open Payables
Rerun Detailed General Ledger/9510Verify 9510 G/L Balance is Zero
All Completed by June 9, 2006FY05 Data Purge Begins Early July
Page 5
2005/2006 Estimated Payables
Year End Closing Manual GuidelinesDetails What to AccruePayables Definition
Review Open Purchase Order ReportScreen Print Page 6 Payables ManualBegin May/JuneCancel PO’s if Not Deliverable by June 30
June 21 Last Day For APY Backup Page 6
Purchase Order RollReview All Open PO’s
Close if Under $25Close Line, Liquidating Does Not Close PO
If Unsure of Receipt, Let RollHave until July 31 to Modify
Request Checks For Credit Memo’sRun Encumbrances To Payables Report
Run After Last APY Run on June 22, 2006Option #4 on PCL Setups and Reports MenuScreen Print Page 7/8 Payables Manual
Purchase Order Roll
WEDNESDAY MORNING June 28, 2006
PCL Roll BeginsEstablishes a PCL For Each PO Account Line
APY/PCL Screens Will Be Locked Out During Roll Beginning at 7:00 AM
Page 7
2005/2006 Estimated Payables
Use Transaction Table for Correct FYEstimated Payables Begin 060001
PCL Roll Starts at Next Valid Number
Information NeededDate Should be 06302006PO Number – 6 digitsVendor Number
To Set Up Payable You Must Have Valid VendorPage 8
2005/2006 Estimated Payables
Valid FY07 Account Code a MustSee Matrix Change Memo dated 5/11/06
Amount Including Sales Tax
Estimated PCL’s May Be Setup or Changed until July 31, 2006
No Activity, Just Change AmountActivity, Set Up Additional Payable
All Known Differences Prior to July 31 Should be Adjusted Page 8
2005/2006 Estimated Payables
G/L 9529 Balance Must Equal Total Estimated Payables Report
Run Estimated Payables Financial ReportDetailed G/L Report Object 9529Both Run in FY06
When Done, Run FAR311Signature Page, AR’s/PCL’s Combined, Fund Sort
Run Final Vendor History ReportPage 9
2006/2007 Payable(PCL) Payments
Run Payables Transaction Report June 29R on Add Payables/Setup CL ScreenKeep Up to Date Report/Handy
Use PCL Payment Option To PayOpen Batch (Unlike Receivable Receipt)Use (P) For Payment OptionEnter Payables Number (PCL), Not Original PO #
Page 10
2006/2007 Payable(PCL) Payments
Screen Options(P) Partial Payment – PCL Remains Open(F) Final Payment – Closes Payable, Books Offset(Z) Closes Out Payable – Books Amount to FY07(D) Deletes Previous Line Only Before Payment
Do not use Credit Memo’sSet Up Receivable
Normal Batching ProceduresNo Batches Created For Z’d Transactions
Page 11
Payable Reports
PCL Reports Menu Page 12 Payables ManualPayables Transaction Report
Lists All Payables With Vendor, Original PO #
Open Payables ReportList Open Payables With Remaining Balances
Payables History ReportList Setup/Payments in Reference or Vendor Order
Pages 12/ 13
Payables ReportsEncumbrances to Payables Report
Prelist of PO’s to Be Converted During PCL RollEstablished Payables Financial Report
Lists Payable Setups By Account CodePayables Reconciliation Report
Lists Setups/Payments By Account CodeReceivables/Payables Financial Activity Report (FAR311)
Run From FY06 or FY07Signature Page, Total AR’s/PCL’s, Fund SortReview ReportFAR311 Advantage Page 13
2005/2006 Accounts Payable
Year-End Closing ManualGoods and Services Received On or Before June 30, 2006In Process Building ProjectsUtility Bill – 12 PaymentsHealth and Welfare AmountsCafeteria - Due to/Due From
Cafeteria Account(93) OkayPage 14
2005/2006 RemindersVoid All Unwanted Batches by June 21Final APY Roll June 22, 2006PO’s Will Be Rolled June 28th at 7:00 AM
APY/PCL Screens Will Be Locked For DurationDo Not Use JE’s, Cash JV’s, Cash Transfers to set up Payables
Use Payables Accrual System (PCL)Watch for FY07 Invalid Resource Use
Run Final FAR311Run Final Vendor History Report
Page 15
Sales/Use Tax
Detail Process Payables ManualSales Tax Must Be Included in Setup
Prior to July 31 Correct Setup
Examples Pages
16/17
2005/2006 Use Tax Liability
Publications 71, 100, and 105www.boe.ca.gov
Always Liable For Taxes OwedInternet Sales
You Must Pay Correct Tax OwedPrepare Annual Use Tax Report
Pages 18/19
2005/2006 Use Tax Report
Districts Filing SeparatelyRun Use Tax Report 7/1/05 to 6/30/06Run G/L 9580
Verify Balances and Mail to State Board of Equalization
Page 20
2005/2006 Use Tax Report
Districts Filing With SCOERun Use Tax Report 7/1/05 to 6/30/06Run G/L 9580
Verify Balances and Return Final Report to Bambi at SCOE by July 14, 2006
Page 20
Use Tax Field Options
Vendor Maintenance ScreenY or 1 or 2 UT Field Options7.75 or .25 or 8.0 Percent Options
Individual To DistrictChange on Each Vendor’s Maintenance Screen
Page 21
