The process for reclassifying a receipt as revenue (or as a reduction to expense when the receipt is expenditure type) that was announced in July, 2013, has been enhanced to improve the user experience. Previously, the appropriate receivable code had to exist in the receipt journal (with that receivable code also agreeing with the fund in the receipt). The process has now been changed so that the receivable code will default to the one in the receipt journal (or default blank if one not assigned to the journal) but allow selection of the desired receivable code. A save error will generate if the selected receivable code doesn’t match the fund of the receipt. To avoid problems with receipts entered via Centralized Collections, the process has also been changed so that a save error generates if the receipt to be reclassified hasn’t been source user verified.
The steps to reclassify a revenue type or expenditure type receipt are now as follows:
1) Query and select the receipt that needs to be reclassified.
2) From the Accounting tab, click the Classify as Accrual to Prior Fiscal Year.
3) On the CLASSIFYPRYR screen that generates, select/enter Receivable Code if the Receivable Code that defaults isn’t correct for the fund or if there is no Default Receivable Code.
5) Verify and distribute the reclassified receipts (should net to zero since there is a positive and negative receipt record for each reclassified receipt).