If your organization operates on a July-June fiscal period, please review the tips and link in this article. ?_
Also, Enterprise customers (and the OpenRDA 101 customers who have software bundles FM 23 and FM 31) should use the Reclassify Receipts process to reclassify revenue-type receipts that are received in the new fiscal year to revenue and receivables for the prior fiscal year (please see the 12/14/2012 product announcement for the Financial Management module that is entitled Reclassify Revenue Type Receipts as Prior Year Revenue).
The upcoming programs release (end of June, 2013) will have extensive enhancements that pertain to Grant Management. ?_These enhancements will affect the Financial Management, Vendor Payments, and Payroll modules (journal entries, receipts, vouchers, payrolls). OpenRDA 101 customers must have software bundle FM 11 to see and use these new features.
On July 1, change the Default Fiscal Year in Vendor Payments to 2014 (Current Voucher Defaults).
On July 1, change the Default Fiscal Year in Financial Management to 2014; change the default fiscal month for fiscal year 2014 to July.
If you have not already done so for budgeting purposes, open fiscal year 2014 in Financial Management.
On July 1, change the Fiscal Year to 2014 and Fiscal Month to July in Purchase Orders (Change Current PO Year/Month).
On July 1, change the Default Fiscal Year in Employee Absentee module to 2014 (if you have this module).
On July 1, organizations that have one or more of the revenue modules should change the Default Fiscal Year to 2014 and the Default Fiscal Month to July.
After the last payroll for June, Virginia customers whose VRS Common Date is July 1 should make this change in Current Payroll Values/Generic Setup Variables and then establish Life Insurance Salary (for the job master).
Print a Leave Job Summary Report and auto-archive into Leave Management’s electronic filing cabinet. ?_Prior to entering any leave used or earned transactions for the new year, ensure that all transactions have processed (updated) and then use the Move Leave Balances Forward report to establish beginning balances for the new year. ?_ If you use OpenRDA/Xpert to compute leave liability, please remember that timing is crucial to this process. ?_If OpenRDA has done this for you as a project in the past and you wish us to do this again, please let Mimi know immediately (firstname.lastname@example.org) so that this can be scheduled. ?_ If you have questions about the process, please submit a cyber-support ticket so that a member of the payroll group can assist. ?_?_ ?_ ?_ ?_ ?_ ?_ ?_ ?_ ?_?_
Please also review the?_OpenRDA/Xpert End of Year Procedures?_from the?_Documentation?_page. ?_North Dakota customers can also access the documentation for the annual report from this link (no changes in the OpenRDA program were required for the 2013 ND Annual Report).