Transcript Accrual Manual For Accounts Payable FY02

Accounts Payable
Accrual Process
For
FY06
Accounts Payable Accrual
System
Specialized Subsystem
Establishes Estimated Payables
Clears Current Liability Payments
Allows
Complete audit trail
Variety of reporting options
Automatic generation and offset entries
Transaction Table as Resource
Accounts Payable Accrual System
Designates Amounts Owed But Not Yet
Paid
Post Payments Against Set Up Payables
Generates Reports
Must Use System
Allows Setup and Payment in Proper Years
9529 in FY06 to 9510 in FY07
Page 1
Clearing Prior Year Payables
Run APY Batch Status Report
Run in FY06
Clear Open, Closed, or Held Batches
Journal Entries and G/L Balances (FCS Control)
Items Must be Deleted or Posted
Run Open Payables Report
Run from PRIXX Only
Screen Print Payables Manual Page 3/4
To/From 0-999999
Identify and Research Any Remaining Items
Clearing Prior Year Payables
Run G/L Detail Report
See Year-End Closing Manual
Run in FY06 from FIN menu
GLD120
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 Balance
Transactions From Other Than PCL Program
JE to Credit 9510/Debit Appropriate Expense Account
Open Payables/No 9510 Balance
FY05 Entries Recorded as FY06 Expenses
Review 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 Entries
If Not Needed
Z Out To Remove
Do Not Use C Function
If Needed
Z 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 Payables
Verify No Open Payables
Rerun Detailed General Ledger/9510
Verify 9510 G/L Balance is Zero
All Completed by June 9, 2006
FY05 Data Purge Begins Early July
Page 5
2005/2006 Estimated Payables
Year End Closing Manual Guidelines
Details What to Accrue
Payables Definition
Review Open Purchase Order Report
Screen Print Page 6 Payables Manual
Begin May/June
Cancel PO’s if Not Deliverable by June 30
June 21 Last Day For APY Backup
Page 6
Purchase Order Roll
Review All Open PO’s
Close if Under $25
Close Line, Liquidating Does Not Close PO
If Unsure of Receipt, Let Roll
Have until July 31 to Modify
Request Checks For Credit Memo’s
Run Encumbrances To Payables Report
Run After Last APY Run on June 22, 2006
Option #4 on PCL Setups and Reports Menu
Screen Print Page 7/8 Payables Manual
Purchase Order Roll
WEDNESDAY MORNING June 28, 2006
PCL Roll Begins
Establishes 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 FY
Estimated Payables Begin 060001
PCL Roll Starts at Next Valid Number
Information Needed
Date Should be 06302006
PO Number – 6 digits
Vendor Number
To Set Up Payable You Must Have Valid Vendor
Page 8
2005/2006 Estimated Payables
Valid FY07 Account Code a Must
See 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 Amount
Activity, 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 Report
Detailed G/L Report Object 9529
Both Run in FY06
When Done, Run FAR311
Signature Page, AR’s/PCL’s Combined, Fund Sort
Run Final Vendor History Report
Page 9
2006/2007 Payable(PCL)
Payments
Run Payables Transaction Report June 29
R on Add Payables/Setup CL Screen
Keep Up to Date Report/Handy
Use PCL Payment Option To Pay
Open Batch (Unlike Receivable Receipt)
Use (P) For Payment Option
Enter 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’s
Set Up Receivable
Normal Batching Procedures
No Batches Created For Z’d Transactions
Page 11
Payable Reports
PCL Reports Menu Page 12 Payables Manual
Payables Transaction Report
Lists All Payables With Vendor, Original PO #
Open Payables Report
List Open Payables With Remaining Balances
Payables History Report
List Setup/Payments in Reference or Vendor Order
Pages 12/ 13
Payables Reports
Encumbrances to Payables Report
Prelist of PO’s to Be Converted During PCL Roll
Established Payables Financial Report
Lists Payable Setups By Account Code
Payables Reconciliation Report
Lists Setups/Payments By Account Code
Receivables/Payables Financial Activity Report
(FAR311)
Run From FY06 or FY07
Signature Page, Total AR’s/PCL’s, Fund Sort
Review Report
FAR311 Advantage
Page 13
2005/2006 Accounts Payable
Year-End Closing Manual
Goods and Services Received On or Before
June 30, 2006
In Process Building Projects
Utility Bill – 12 Payments
Health and Welfare Amounts
Cafeteria - Due to/Due From
Cafeteria Account(93) Okay
Page 14
2005/2006 Reminders
Void All Unwanted Batches by June 21
Final APY Roll June 22, 2006
PO’s Will Be Rolled June 28th at 7:00 AM
APY/PCL Screens Will Be Locked For Duration
Do 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 FAR311
Run Final Vendor History Report
Page 15
Sales/Use Tax
Detail Process Payables Manual
Sales 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 105
www.boe.ca.gov
Always Liable For Taxes Owed
Internet Sales
You Must Pay Correct Tax Owed
Prepare Annual Use Tax Report
Pages 18/19
2005/2006 Use Tax Report
Districts Filing Separately
Run Use Tax Report 7/1/05 to 6/30/06
Run G/L 9580
Verify Balances and Mail to State
Board of Equalization
Page 20
2005/2006 Use Tax Report
Districts Filing With SCOE
Run Use Tax Report 7/1/05 to 6/30/06
Run 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 Screen
Y or 1 or 2 UT Field Options
7.75 or .25 or 8.0 Percent Options
Individual To District
Change on Each Vendor’s Maintenance
Screen
Page 21