Warehouse Inventory System

Warehouse Inventory fiscal year-end processes includes maintaining records, running reports, clearing yearly totals, and updating the system year and period.

Complete the following steps in the Warehouse Inventory System:

Run the Warehouse Inventory > Reports > Warehouse Reports > Unfilled Requests option to review unfilled warehouse requests.
Process all back orders and unfilled requests. Only requests that are filled or denied are purged when you run the Year End Procedures option in Step 5.
Run the Warehouse Inventory > Entry & Processing > Periodic Routines > Process General Ledger Charges option to interface journal entry charges to department budgets in the Fund Accounting System. Charges are for filled requests, inventory adjustments, and stock returns.
Important
Charging must be completed before Fiscal Year-End processing is started in the Fund Accounting System.
Generate the following reports from the Warehouse Inventory > Reports > Warehouse Reports menu, as well as any other reports you feel are necessary.
- Departmental Charge Summary
- Inventory Transactions - Detail
Run the Warehouse Inventory > Entry & Processing > Periodic Routines > Year End Procedures option to:
- Purge all transactions prior to the year being closed.
- Purge filled and denied requests.
- Reset the Year-To-Date Purchased and Used fields in the Inventory Catalog to zero.
- Summarize usage information for usage history.
- Update the Period and Year on the Warehouse Inventory Profile.
Run the Fund Accounting > Reports > System Maintenance > Check Ledger Balances > Per Fund option to verify that all funds are in balance.
Important
If you encounter an out-of-balance condition at any stage of the fiscal year-end process, contact PowerSchool for assistance.
Run the following Fund Accounting > Reports > Audit Trails options to verify your budget codes are in balance:
- General Ledger Audit Trail
- Expenditure Ledger Audit Trail
- Revenue Ledger Audit Trail
- Project Ledger Audit Trail (if applicable)