Escape Year-End Checklist

The following checklist is a working copy of the version provided in the online Escape documentation.

It features additional columns to indicate the item number (Sequence) of the topic or step, the primary owner of the task (Who — COE/System Manager OR District Staff), and the timeframe for completing the item (When).

The primary purpose of this version of the checklist is to track progress as major items are completed and provide that status in a centralized location. The status will be updated on this page as major items are completed (either by the COE/System Administrator of by all affected districts or organizations).

This checklist is maintained by Yuba COE. Please contact the YCOE Escape System Administrator with any questions or suggestions regarding this page in general. Please contact the YCOE Escape Support contact for questions regarding specific tasks.

 

Seq

Who

When

Task

Notes

Preparing for Next Fiscal Year
1 Org Jan - Mar

▢        Year End Processing and Organization Setup

Verify the multiyear processing for receipts and payments.

Verify closing JEs flag.

Verify Addon Payoff fields (if appropriate).

Verify ledger object codes and the budgetary control objects.

Verify Finance Error Acct.

Use the System-Setup-Organizations activity.

On the General Setup tab, verify month/day fields for AR Receipts, AP payments, direct payments and employee payments.

Verify the Fiscal Year Closing JEs Required flag.

Verify the addon payoff fields.

On the Ledger tab, verify your object codes for reserves, carry overs, prepays, et al, are correct. Also, check your Finance Error Acct Link ID.

Must be SysMgr or higher.
2 COE Jan

▢ ✓      Create New Fiscal Year for the System

Use the System-Setup-Fiscal Year Status (System) activity.

Copy the base year to the next.

Must be SysMgr or higher.

3 Org Feb - Mar

▢        Roll Forward Accounts

Roll forward accounts for EVERY organization even if it is a “clearing” organization.

From the list of the System-Setup-Fiscal Year Status activity, copy the base year of each organization to the next year.

From the base year, use the System-Setup-Fiscal Year Status activity to select the Roll Forward Accounts task to create accounts for the next fiscal year.

From the next year, use the System-Setup-Fiscal Year Status activity to review the snapshot of the history records of the roll forward.

Must be SysMgr or higher.

Preparing for Next Payroll Year
4 Org (HR) Feb

▢        Year End Processing of Salary Schedules

Use the HR/Payroll-Setup-Assignment-Salary Schedules activity.

Changing. If salary schedules are changing for the next fiscal year, you need to end the base salary schedule and copy it to the next year.

Not Changing. If salary schedules are not changing for next year, quickly review the list to make sure that the base year salary schedules do not have end dates.

Must be HRMgr, OrgMgr, SysSupport or SysMgr.

5 COE Feb

▢ ✓      Year End Processing of Pay Schedules

Use the HR/Payroll-Setup-Payroll-Pay Schedules activity.

Copy pay schedules from the base year to the next year.

Review the pay periods in the next year.

Must be accessed as All-Org as PayMgr, OrgMgr, SysSupport or SysMgr.

6 Org (HR) Feb

▢        Copying Calendars

Use the HR/Payroll-Setup-Assignment- Calendars activity.

Copy calendars from the base year to the next year.

Review the calendars in the next year.

Must be HRMgr, OrgMgr, SysSupport or SysMgr.

7 COE Feb

▢ ✓      Year End Processing of Pay Cycles

Use the HR/Payroll-Setup-Payroll-Pay Cycles activity.

Copy pay cycles from the base year to the next year.

Review the pay periods in the next year.

Must be accessed as All-Org as PayMgr, OrgMgr, SysSupport or SysMgr.

8 Org (HR/PY) Mar

▢        Year End Processing of Position Control

Job Categories/Class

Deductions/Contributions

Addons

Benefit Providers

Positions

You may or may not need to change these records during year end processing.
9 Org Mar

▢        Roll Forward Pos Assignments

Double-check assignment roll forward.

Roll forward assignments.

Initiate pay.

 

From HR/Payroll-Reports-Position, run the Assignment Roll Forward Problem Preview (Pos08) report to review assignments that will not roll forward.

Must be HR User or higher.

From the base year, use the System-Setup-Fiscal Year Status activity to select the Roll Forward Pos Assignments task to roll forward assignments for the next year.

Must be a COEDistSvc or SysMgr.

From the next year, use the System-Setup-Fiscal Year Status activity to review the history records of the roll forward.

Must be SysMgr or higher.

Use the HR/Payroll-Processes-Initiate Payroll Requests activity to initiate pay for the next year. (You may want to schedule this for after hours.)

Must be OrgMgr or higher.

Preparing for Fiscal Year End
10 Org May

▢        Set Up Multiyear Processing

Verify multiyear processing for requisitions.

Use the Finance-Setup-Department-Departments activity.

Review the Current/Next Year Start/End fields for each document to synchronize to your district’s standards.

Must be Fiscal or higher.

11 Org May

▢        Create Cash Roll Forward Journal Entry

This task is optional.

From the next year, use the System-Setup-Fiscal Year Status activity to select the Create Cash Roll Forward Journal Entry task.

This rolls forward cash independent of other year end processes, providing users with cash before the fiscal year is closed.

Use the Finance-Fiscal-Journal Entries activity to review the journal entry in the next year.

From the next year, use the System-Setup-Fiscal Year Status activity to select the Post Cash Roll Forward Journal Entry task to post the journal entry.

Must be SysMgr or higher.

12 Org *

▢        Resources that Don’t Allow Prepayments

Use the Finance-Setup-Chart of Accounts-Account Componentsactivity.

For resources that should not allow prepayments, set the Allow Prepay flag to No.

Must be AP or higher.

13 Org *

▢        Prepay Requisition Payments

Use the Finance-AP-Payments activity.

Enter payments as usual. The software recognizes the fiscal year of the vendor requisition.

OR

Use the Finance-AP-Enter Payments activity.

For next year’s invoices that are received and paid for prior to July 1, select next year as the Fiscal Year and then enter payments as usual.

Both activities have the same result: the software creates the appropriate journal entries when the check is printed.

Must be AP or higher.

14 Org *

▢        Prepay Non-Requisition Payments

Use the Finance-AP-Direct Payments activity.

OR

Use the Finance-AP-Employee Payments activity.

For next year’s invoices that are received and paid for prior to July 1, select the next year as the Fiscal Year and then enter payments as usual.

Both activities have the same result: the software creates the appropriate journal entries when the check is printed.

Must be AP or higher.

Release, Carryover, Accrue Documents
15 Org *

▢        Make Requisition Payments for Last Year

Use the Finance-AP-Payments activity.

Enter payments as usual. The software recognizes the fiscal year of the vendor requisition.

OR

Use the Finance-AP-Enter Payments activity.

For base year’s invoices that are received and paid for after July 1, select the base year as the Fiscal Year and then enter payments as usual.

Both activities have the same result: the software creates the appropriate journal entries when the check is printed.

Must be AP or higher.

16 Org *

▢        Make Non-Requisition Payments for Last Year

Use the Finance-AP-Direct Payments activity.

OR

Use the Finance-AP-Employee Payments activity.

For base year’s invoices that are received and paid for after July 1, select the base year as the Fiscal Year and then enter payments as usual.

Both activities have the same result: the software creates the appropriate journal entries when the check is printed.

Must be AP or higher.

17 Org *

▢        Year End Processing of Work Orders

Close or cancel all work orders.

Use the Finance-Work Orders-Work Orders activity.

Search for work orders that have not been completed or canceled in the base year.

If the status is Open or Submitted, you must cancel. If the status is Approved, Assigned or Ready to Expense, you must cancel or complete.

Must be Fiscal or higher (or be a member of the department).

18 Org *

▢        Year End Processing of Vendor Requisitions

Release, accrue, carry over, or close out vendor requisitions.

Use the Finance-Processes-Year End Closing activity.

Select Vendor Requisitions as the document type and work the list until all requisitions are processed.

Must be Fiscal or higher.

19 Org *

▢        Year End Processing of Stores Requisitions

Release, carry over, or close out stores requisitions.

Use the Finance-Processes-Year End Closing activity.

Select Stores Requisitions as the document type and work the list until all requisitions are processed.

Must be Fiscal or higher.

20 Org *

▢        Year End Processing of Department Requisitions

Release, carry over, or close out department requisitions.

Use the Finance-Processes-Year End Closing activity.

Select Department Requisitions as the document type and work the list until all requisitions are processed.

Must be Fiscal or higher.

21 Org *

▢        Year End Processing of AR Invoices/Receipts

Accrue, carry over, or close out invoices.

Process receipts.

Use the Finance-Processes-Year End Closing activity.

Select the document type and work the list until all invoices and receipts are processed.

Must be Fiscal or higher.

Inventory Assets and Stores Items
22 Org *

▢        Creating the Inventory Asset List

Export the data.

Perform physical inventory.

Import file.

Find missing assets.

Dispose of assets as appropriate.

Print Reports.

Use the Finance-Assets-Asset Physical Inventory activity to perform the inventory.

Use the Finance-Assets-Fixed Assets to edit assets.

Use the Finance-Reports-Assets to run reports.

Must be Fiscal or higher.

23 Org *

▢        Inventorying Stores Items

Run the Physical Inventory Worksheet (Stores04).

Perform physical inventory.

Make adjustments.

Run the Stores Valuation Report (Stores05)

Adjust the stores account.

Use the Finance-Stores-Stores Physical Inventory activity to perform the inventory.

Use the Finance-Reports-Stores to run reports.

Use the Finance-Fiscal-Journal Entries activity to adjust stores accounts.

Must be Fiscal or higher.

Wrapping Up Fiscal Year End
(FISCAL YEAR IS OVER)
24 Org *

▢        Clear Hourly Employee Payroll Encumbrances

Only if Hourly Emp Encumbrance flag in the Organization record is set to YES.

From the base year, use the System-Setup-Fiscal Year Status activity to select the Clear Outstanding Hour Emp Enc task to clear the remaining encumbrance balance for the base year.

Must be SysMgr or higher.

25 Org *

▢        Roll Forward Leaves

This must be done AFTER the June leaves are entered.

From the base year, use the System-Setup-Fiscal Year Status activity to select the Roll Forward Leaves task to create a special leave balance forward transaction dated 07/01 of the next year.

Must be SysMgr or higher.

26 Org *

▢        Balance Resources that Don’t Allow Ending Balances

Only if a Resources with Ending Fund Balances section shows on the Fiscal Year End (Fiscal15) report.

Use the Finance-Fiscal-Journal Entries activity.

Create a journal entry in the base year to move the balance to the deferred revenue account or another account, as appropriate.

Must be Fiscal or higher.

27 Org *

▢        Clear Outstanding Journal Entries

Use the Finance-Fiscal-Journal Entries activity.

Search for JEs in the base year in the Open, Denied, Submitted and Audit statuses, then post or delete.

Must be Fiscal or higher.

28 Org *

▢        Reconcile AP and AR

Use the Finance-Reports-Ledger activity.

Run the Receivables/Liabilities Activity (Ledger02) report for the base year, selecting cleared items (NO) and unposted journal entries (YES).

Must be AP or higher.

29 Org *

▢        Run the Financial Statement

Use the Finance-Reports-Fiscal activity.

Run the Financial Statement (Fiscal13) report for the base year, ending period of June and including zero balances to verify the organization’s finances are in balance.

Must be Fiscal or higher.

30 Org *

▢        Print the Fiscal Year End Checklist

From the base year, use the System-Setup-Fiscal Year Status activity to run the Fiscal Year End Checklist snapshot.

If the report is clear (there are no outstanding items), print the checklist to “unlock” the Close Fiscal Year task.

Must be SysMgr or higher.

31 Org *

▢        Close Cash

You should leave the June close date blank until you are ready to close the fiscal year.

From the base year, use the System-Setup-Fiscal Year Status activity to verify that all close dates have passed.

Must be SysMgr or higher.

32 Org *

▢        Close the Fiscal Year

From the base year, use the System-Setup-Fiscal Year Status activity to select the Close Fiscal Year task to update the Fiscal Year Closed fields in the Fiscal Year record.

  • If the Fiscal Year Closing JEs Required flag in the Organization record is set to YES, the Create Closing Journal Entries task is unlocked.
  • If the flag is set to NO, the Create Starting Balance Journal Entries task is enabled.

Must be SysMgr or higher.

33 Org *

▢        Create, Review and Post Closing JEs

Only if closing journal entries are required.

From the base year, use the System-Setup-Fiscal Year Status activity to select the Create Closing Journal Entry task to create the closing journal entries and write a history message for each fund.

Use the Finance-Fiscal-Journal Entries activity to review the subsequent closing journal entries. Search for the Closing JE Type for the base year.

From the base year, use the System-Setup-Fiscal Year Status activity to select the Post Closing Journal Entry task to create the closing journal entries and write a history message for each fund.

Must be SysMgr or higher.

Creating Starting Balances
(FISCAL YEAR IS OVER)
34 Org *

▢        Unpost and Delete Cash Roll Forward Journal Entry

Only if you used the post cash roll forward JE task.

From the next year, use the System-Setup-Fiscal Year Status activity to select the Unpost and Delete Cash Roll Forward Journal Entry task to unpost and delete the journal entry.

Must be SysMgr or higher.

35 Org *

▢        Create and Post Starting Balance Journal Entries

From the next year, use the System-Setup-Fiscal Year Status activity to select the Create Starting Balance Journal Entries task.

This task creates the starting balance JEs and updates the necessary fields in Fiscal Year Status activity, including writing a history record that shows the JE numbers created for each fund.

Use the Finance-Fiscal-Journal Entries activity to review the journal entries (type = StartBal) in the next year.

From the next year, use the System-Setup-Fiscal Year Status activity to select the Post Starting Balance Journal Entries task to post the starting balance JEs,

Must be SysMgr or higher.

36 Org *

▢        Create and Post Starting Balance Budget Revision

This task is optional.

From the next year, use the System-Setup-Fiscal Year Status activity to select the Create and Post Starting Balance Budget Revision task.

This task creates a budget revision journal entry (type = BudRev) by comparing actuals to the revised budget, checking the starting balance account revised budget amount and adjusting the budgeted amount to equal the actuals amount. (If the budget amount equals the actuals, no journal entry is created.)

Must be SysMgr or higher.