RE: FY close
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Hi Barbara --
Making the change for funds around the fiscal year does make a lot of sense. And I think that you methodology is perfectly sound for choosing Method 2 fiscal close this year to facilitate the moving of open orders from one group of funds to another (the new group of funds). Since it appears that the only think you carry forward from one year to the next are the encumbrances, you should be able to use Method One fiscal close after this year.
The meat of fiscal close will be the portion when you Changing Funds in Orders in Fiscal Close (Page # 106035). If you only want to transfer the open orders, then (I believe) that you need to use the manual method (as opposed to the automatic variety).
I have not gone through this during fiscal close, but the documentation looks straight forward and I would imagine what it would not be your favorite day at work, but it might not be so bad. You will want to have all your new funds in the system and it might not hurt to have the new groupings (or reports), but you would not need to print the new reports during fiscal close.
I think that it sounds worse than it is and you will be fine. I think your logic makes sense in pursing Method two for this year to assist with this move from one set of funds to another. The prospect of doing them all one at a time is a bit of nasty chore.
Make sure you check out the users manual Page # 106022 (Fiscal Closing in Millennium).
Be sure also to check out this announcement on Fiscal Close Method 2 documentation:
Hope this helps --
Best -- Corey
Asst. Dean for Resource and Systems Management
University of Toledo
corey dot seeman at utoledo dot edu
From: innopac-bounces at innopacusers dot org on behalf of BARBARA S HEATH
Sent: Fri 9/16/2005 11:57 AM
To: innopac at innopacusers dot org
Subject: FY close
At Wayne State University, we will be doing a fiscal year close in a
couple of weeks. Since this is the first time we have done this on
Millennium, I have a couple of questions before we proceed.
Described below is our situation.
We have 420 plus funds in our Current Funds.
We will be creating a totally new fund structure for 2006, with
probably around 250 new funds.
We will have to change funds on all order records with o, c, and f
status. F status alone has close to 9000 records. O and c, the
encumbered records, have fewer.
During FY close, we want to "map" the old fund codes to the new
ones, carrying over the outstanding encumbrances onto the new funds
created for the new fiscal year. Some mappings will involve
changing multiple funds to one new one.
We are looking at Method 2 for accomplishing this, but our situation
is so complex that I'm not sure any method will work accurately. To
begin with, we were thinking of using Method 1, creating the new
funds in Current funds, and then using Quick Edit or Global Edit to
change old funds to new ones on the order records. But apparently
neither of these procedures can be used to change fund codes.
Any suggestions you might have would be very welcome.
Thanks in advance.
Wayne State University Libraries
5150 Anthony Wayne Drive
Detroit, MI 48202-3967
aa8764 at wayne dot edu
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