Fiscal Year-End Help is here!

Fiscal Year-End Help is here!

Time to clean up, clear out!

Don’t worry, you do not have to face this daunting task alone.  We will help! To make things easier, we have sale-priced some of our more popular year-end services.

Online training for only $800 per day 

You will receive the undivided attention of one of your product experts. Whether you are onboarding a new user, or learning a new task, your RDA experts will walk you through the process, answer your pressing questions and help you feel more comfortable with your software. Here are some great ways to use your training time:

Leave Management training to help move year end balances and get off to a fresh start with employee leave trackingLearn to use the Bank Reconciliation module to reconcile your monthly bank statements. Start utilizing that module that has just been collecting dust…like Budget Prep, Purchase Orders or Fixed Assets And you can always buy training now and save it for W2 season, spring budget assistance or the new hire that you’ll be on boarding this fall

20% off data purges

Do you have years and years and years of data in your live directory? Have you noticed reports and queries taking too long to run?  It may be time to purge older data into a historical directory. You can keep any number of years as a backup in your live directory (we usually recommend the current fiscal year plus the two previous years) and then put all that history in a separate data space.

Your history will still be right at your fingertips, stored on your cloud server and available through your own unique url. This is one of our best year-end clean-up services! Prices vary based on data size, but we’ll take 20% off large or small! 

15% off new digitized signature setups

Tired of hand signing checks or POs?  We can automate the signature process for up to three signature lines on checks and one signature on P.O’s. Set up signatures for the new year to save 15%, and you will no longer have checks or P.O.s lying around waiting on signatures!

15% off the AESOP Vacancy Add on Feature 

Do you have an abundance of substitutes without the occurrence of an absent employee?  We have an add on feature that will save you the time and effort you spend doing data entry to account for these situations.  Normally $1000, this add on is on sale for $850 for proposals signed by July 15th. 

And don’t forget some of our other services that are helpful at year end:

Account Code Changes and Conversions: need help with ESSA reporting?

Frontline Absence and Time Integrations: why manually enter leave, sub and time transactions when you can import directly from Frontline into OpenRDA.

Leave Liability Reporting: we can create a custom report to calculate your annual liability.

Contact Mimi English to sign-up before July 15, 2019.

New Year

New Year

RDA calendar

New Year Reminders

Please see the following wiki link for new year end reminders:

Tax Cuts and Jobs Act

December 22, 2017 President Trump signed the Tax Cuts and Jobs Act (H.R. 1) into law which will take effect January 1, 2018. The new law provisions include Federal tax table changes, W4 form changes as well as a number of  other payroll related tax changes. Please visit the or for more details. New Tax tables for 2018 along with a new W-4 form are planned to be available by mid January.


Extension to Due Date for 1095 Forms

The IRS announced on December 22, 2017 that it has extended the 2018 due date for certain entities to provide 2017 health coverage information forms to individuals.   Insurers, self-insuring employers, other coverage providers, and applicable large employers now have until March 2, 2018, to provide Forms 1095-B or 1095-C to individuals, which is a 30-day extension from the original due date of Jan. 31.

The due dates for filing 2017 information returns with the IRS are not extended. For 2018, the due dates to file information returns with the IRS are:

  • Feb. 28 for paper filers

  • April 2 for electronic filers



New Fiscal Year

New Fiscal Year

RDA calendar

RDA-Recommended Procedures for Opening a New Fiscal/ Calendar Year

It is getting close to the time of year in which our calendar fiscal year (January – December) customers will open their new fiscal year. In this blog, we will review the procedures and tips for opening a new fiscal year in OpenRDA, and setting defaults in the various modules.

One of the great things about OpenRDA is that each month and year functions independently, and multiple months/years can be open and posted to at the same time. It is not necessary to “hard close” a previous year, and you can continue to post to the prior year while a new year is open.


Open New Fiscal Year: The first step to starting a new fiscal year is to open the financial year. This process can be found by going to Maintenance -> Financial Years/Current Month -> New Year -> Open Financial Year (see screenshot below). You will need to enter the new Fiscal Year to Open (i.e., 2017), along with a Description. Enter a range only if you want to open the fiscal year for certain funds or account codes, most customers open the year for everything at the same time so there is no need to range. next, you will click the cog (“Update Database”) button. This step will create the year under the “Financial Years/Current Month” option listed on your Financial Management home screen, and create year masters for all the account codes selected.

Set Beginning Balances: The next thing you should do when opening a new fiscal year is set your beginning balances. To do this, go to Maintenance -> Financial Years/Current Month -> New Year -> Set Beginning Balances Based on Prior Year (see screenshot below). This process takes the year-end balances for your fund(s) and rolls them forward to the new fiscal year. This step can be done as many times as needed and should be completed whenever anything is posted or changed in a prior year. When rolling the beginning balances, enter the new fiscal year in the Set Beginning Balances for Fiscal Year field. In the Fund Balance (Equity) Code field, you will need to enter the balance sheet code that reflects your unreserved fund balance. For many customers, this code will have a description and/or reference type of “Fund Balance, Undesignated, Unreserved”, and can be found by running a current trial balance. This will be the account into which the difference between your revenue and expenses will be rolled for the new year. Please note that some users might not have access to this step per their security profile settings.

Change Defaults: Once you have moved into your new fiscal year, and you are done with the majority of your posting in that fiscal year, you can save time by changing your defaults. Changing your defaults will only change the fiscal year/month that automatically defaults on certain modules’ screens, and can be overridden if something needs to be entered to the previous year. The defaults do not affect your ability to post to a prior fiscal year/month.

In Financial Management, you can change your default Fiscal Year by clicking the Set/Change Default Fiscal Year option in the task list, entering the Current Fiscal Year, and clicking Save. To change the default Fiscal Month at the start of each month, click the Financial Years/Current Month option in the task list, select the current fiscal year, populate the “Default Current Processing Month” drop-down field with the current fiscal month, and save. Utilizing these options in Financial Management sets the default Fiscal Year/Month fields in the Financial Management, Payroll, Payroll Vendor Withholding and Leave modules.


To change the Vendor Payment module’s default Fiscal Year/Month, go to Change Current Voucher Defaults, enter the new Fiscal Year/Month, and click Save.


To change the Purchase Order module’s default Fiscal Year/Month, go to Change Current PO Year/Month, enter the PO Fiscal Year and Month, and click Save.


The last step of the New Fiscal Year process is inactivating the previous fiscal year. Once you feel that the majority of your posting to the previous fiscal year is completed, and you have rolled your balances forward, you can perform this step. It is not required since it’s possible to have as many years active as you like, but some customers choose to inactivate the previous fiscal year to help avoid accidental postings to that year. To inactivate the previous fiscal year, go to Financial Management -> Maintenance -> Financial Years/Current Month -> Year End-> Inactivate/Close Year, enter the year you want to inactivate, and click the cog (“Write to Database”) button. This will block new activity from being entered and posted until the year is re-activated.

In order to reactivate a fiscal year, you would need to go to Maintenance -> Financial Years/Current Month -> Year End-> Re-Activate Year. You are able to inactivate and reactivate a year as many times as needed. Note: Make sure to re-run the Set Beginning Balance process after posting to a prior fiscal year!


Move leave balances to the new fiscal year. Refer to the following document for guidance:

Set liability rates on leave liability calculations. This applies only to those customers that use leave liability. Liability rates must be established using pay rates for the 2016 fiscal year (not the 2017 fiscal year) and must be done before any leave earned/used amounts for the new fiscal year are updated.

Add Leave Earned for the new year. If your employees earn leave at the beginning of the year, the Add Leave Earned process should be run after the previous year’s ending balances have been moved to the new year and have been established as the new year’s beginning balances.


Make 2016 payrolls historical: In addition to cleaning up your Pay Master Browse, this will remove the old payrolls as selections in the drop-down Pay Identification field in all the payroll processes (Compute Payroll, Make Transactions, etc.), enabling you to run through the payroll steps in an efficient manner. You will still be able to access historical payrolls, by simply removing the Historical flag. There is a process that allows you to flag multiple payrolls as historical in mass. To run this process, go to Maintenance -> Set, Change or Clear -> Set Historical in Pay Master. To include all Pay ID’s, run it without ranging.

Update salaries for the new fiscal year: To do so in mass, go to Maintenance -> Set, Change or Clear -> Change Misc Job Rate Amounts. Note: If using matrices (salary scales), different steps apply. If using Budget Prep, go to Budget Preparation -> Update Tab -> Payroll ? Jobs and Budget Preparation -> Update Tab -> Position Tracking -> Gross Rates. Note: If using matrices, additional steps are needed.

Update Retirement and/or Life Insurance Salaries: If you maintain either/both amounts in employees’ Job Masters, and you are entering salary changes for the new year, remember to also update the Retirement Salary/Life Insurance Salary fields as applicable. In-mass processes are found under Maintenance -> Set, Change or Clear -> Life Insurance and Retirement Salary.

Update deductions for the new year: To efficiently change employee Deduction Master amounts (for example, for a health insurance deduction) for all employees, go to Setup -> Deductions -> Deduction Descriptions -> (select the deduction) -> click Personnel Deductions. This will provide a list of employees from which you can work.

If you are on a Calendar Year please review this Calendar Checklist for additional changes that will be required – i.e. updated tax tables from the IRS.

Much of the information listed above is suggestions and not hard rules. Please keep in mind that your organization’s policies may require you to follow different and/or additional procedures. If you have any questions about opening a fiscal year, please do not hesitate to contact the Support Team. You can submit a help desk ticket, call us at 800-338-4984, or send an email to

Fiscal Year End

For those of you on a July-June fiscal year, fiscal year end is fast approaching. We are thrilled to offer you software in which each year (as well as each month and quarter) stands on its own, because that means you won’t have a formal closing or opening of these periods. There are, of course, procedures you should follow at the change of a fiscal year. Rest assured that we have you covered! Please click the links in this post to access our fiscal-year-end-related recommendations and tools.

  • MULTIPLE MODULES: You can access our Fiscal Year End Procedures document with this link. The suggestions contained within will help you ensure a smooth fiscal year end, and a clean start to your new year.

  • LEAVE MANAGEMENT: If you have the Leave Management module, then in a few short weeks, you will be moving your employees’ leave balances to the new fiscal year. We want to make that task easier, and also allow your Leave processing to be more streamlined in the upcoming fiscal year and beyond. With that goal and timing in mind, we want to get the word out about something that you may not realize is a feature in our software. NOW is the time, BEFORE you use the Move Leave Balances process, to take a look at all your Leave ID’s, and determine which of the same type may be able to be combined into one, with a table applied that would determine employees’ earnings based on their years of employment. Once tables have been set up, you can use the Move Leave Balance process to move balances into the new year, and at the same time, move them into the unified Leave ID. Please click this link to read more about utilizing Leave Tables.

  • LEAVE MANAGEMENT: We created a Year End sub-menu, under Maintenance, in order to group together the processes and reports that are most commonly used at fiscal year end, when employees’ leave balances need to be zeroed out or carried over, in part or full, to the new fiscal. A new, comprehensive guide of that sub-menu can be accessed via this link. In the guide are links to the wikis that provide more details on each of the individual processes and reports under Year End, including the Move Leave Balance process itself.

  • PAYROLL: We also have guidance on running Contract Payrolls in June. We recommend that you read through this documentation, so that you understand all your options regarding July and August payrolls. It can be accessed with this link.

We hope that you find value in our recommendations and instructions. If you have questions regarding fiscal year end, please submit a cyber support request.

It’s All About the Base–No Trouble (With Accruals)

Base. noun. A fundamental principle; foundation.

It is all about the base or foundation. And, software founded on sound accounting principles makes it no trouble to book accruals (as well as pre-paid expense as mentioned in my posting last month). And, by no trouble, I mean no journal entries! There are expense accruals as well as revenue accruals and both are easily handled in the OpenRDA software. Pre-paid expense pertains to affecting cash in the current fiscal year with expense affected in subsequent fiscal year. But with accruals, cash is affected in current fiscal year and expense (or revenue) is affected in the previous fiscal year.

How OpenRDA Handles AP Accruals

When an invoice is received (usually during the first 60 days of the new fiscal year) that is for services or products provided in/for the previous fiscal year, it is entered using the previous fiscal year and the virtual month of post-year. That will cause the expense to be in the previous fiscal year along with an accounts payable amount (a credit).  And, because the checks/electronic transmittals will be dated in the new fiscal year, the balance sheet activity that creates when clearing the checks/transmittals will automatically be in the new fiscal year (which will cause the accounts payable amount to be relieved). Why should these invoices be entered to the post-year virtual month? Remember the schedule of Accounts Payable that I mentioned in the “auditoscopy” blog a couple of months ago? Run the Voucher Transactions Report by Account Code and range on FY-Month (e.g., 2014-13) and you’ll be able to produce the schedule for your auditors. It sorts by Account Code and shows the vendor ID/vendor name, invoice identification, check/EFT number and date, amount, credit code, and voucher description.

How OpenRDA Handles Receipt Accruals

Receipt (whether revenue or expenditure) accruals are often referred to as accounts receivable. The OpenRDA financial receipt process is designed so that knowing whether a receipt is a receivable (accrual) isn’t necessary at the time of data entry. The fiscal period (year and month) for a receipt should always correspond to when the money is deposited. Once the receipt has been processed, the Finance Director (or business manager) would review receipts for accounts receivable status. And, then use the Classify Revenue as Prior Fiscal Year feature (a button on the Accounting tab of the receipt record) to “move” the revenue to the previous fiscal year while leaving cash in the current fiscal year. This process uses the appropriate receivable code (from the receipt journal or entered on the screen if different) to establish the accounts receivables amounts. What’s a good report for the auditors (since they need to know what the receivables were as of the last day of the fiscal year)? Try the Receipts Report by Fiscal Year, Bank ID, and Account Type as it will display totals for accruals and reclassified receipts. Range on the first months of the new fiscal year (the fiscal year in which the money was received/deposited) in conjunction with the Select for When Reclassified is true. Or, you could use the same report and range on the fiscal year that is being audited and Select When Accrual. If totals by account code are desired, try the other receipt reports (all of the receipt reports are accessed via Detail Reports).

Pre-Paid Expense

In my blog posting last month, one of the audit sections pertained to Pre-Paid Items. So, what is that? On the balance sheet, pre-paid expense is an asset (I know; sounds strange). Governments operate on an accrual-based rather than cash-based accounting system.  Think of it as the opposite of an accrual where you’re recognizing the expense in one fiscal year but the actual payment (affect cash) is in the next fiscal year. With pre-paid expense, cash is affected in the current fiscal year but the expense is recorded for the subsequent fiscal year. Common examples of pre-paid item or expense are insurance and maintenance contracts where the payment for some or all of the goods/services is due before the contract/service period. Such contracts may need to be expensed to the current fiscal year as well as the subsequent fiscal year depending on the contract period (which means that the invoice would be split and entered for two different fiscal years).

How OpenRDA Handles Pre-Paid Items

How do you accomplish this in the OpenRDA software? First, you must have a standard balance sheet code for Pre-Paid Items (if you follow the 3-digit RDA standards, this would be 181 with a reference type of PRE-PAID ITEMS) and a balance sheet account master for this in each fund.  Second, the fiscal year for the pre-paid expense must be opened in Financial Management so that account masters exist for the fiscal year. Third, when these type of invoices are received, vouchers are created using the applicable fiscal year with the fiscal month of Pre-Year. You’ll see when you override the fiscal month to Pre-Year that the Pre-Paid Expense automatically flags. Once you enter the desired account code, the Payable Code will automatically change to the standard balance sheet code for pre-paid items/expense. If the invoice is for the current fiscal year as well as the subsequent fiscal year, you would enter the portion for the current fiscal year as you normally do.

And, that’s it in a nutshell! And, accomplished without any journal entries. How easy is that?