Create New Year Ledgers
Use this option to create ledgers for the new fiscal year. This includes the Expenditure Ledger, Revenue Ledger, Project Ledger, and General Ledger.
After you set up your ledgers, you can begin entering next year requisitions and purchase orders.
Menu Path: Fund Accounting > Periodic Routines > Year-End > Year End > click Create New Year Ledgers
Checkboxes
The Create Ledgers page has the following checkboxes. After you select the boxes and click OK, the system creates the ledgers selected.
Expenditure Ledger | Creates the Expenditure Ledger for the year on the Budget Preparation Profile. If you use distribution templates in Purchasing and their Rollover During Year-end-Process checkboxes are selected, these templates will also be rolled into the new year. |
Revenue Ledger | Creates the Revenue Ledger for the year on the Budget Preparation Profile. |
Project Ledger | Creates the Project Ledger for all open projects for the year on the Budget Preparation Profile. |
General Ledger | Creates General Ledger accounts for all funds in the new year's Organization Chart. Funds from the previous year that are not in the new year's Organization Chart are documented in an error log. |
Important
Correct any errors noted in the Create New Year Ledgers option's error log and re-run the option as many times as needed to ensure that your ledgers are set up properly.
Setting up your new year ledgers
- Select Fund Accounting > Periodic Routines > Year-End > Year End to display the Fiscal Year End Processing center.
- Click Create New Year Ledgers.
- In the Create Ledgers page, select the checkboxes for the ledgers you want to create.
- Click OK
- In the Create New Year Ledgers dialog, click Yes.
If you only selected General Ledger, proceed to Step 10. - A Continue? displays for the next ledger selected. Click Yes in dialog to create the ledger.
A process page displays, showing the steps being performed. - After the system creates a ledger, a Create Complete dialog displays. Click OK.
- Repeat Steps 6-7 for each additional ledger selected, except the General Ledger.
- In the Print window, enter settings for the log that is generated if errors are encountered. The log's default file name is open_year.rpt.
- Click OK to begin creating your General Ledger accounts.
Important
If the system detects errors, the ledger is not created, and a display appears, indicating the number of errors. Select the error log that is generated, correct the problems listed, and then re-run the Create New Year Ledgers option. Keep in mind that you cannot access the Update Ledgers option until the General Ledger is set up. - Click OK to return to the Fiscal Year End Processing center.