General Ledger Year-End Processes
Four year-end processes allow users to properly 'close' a fiscal year:
• Closing of pre-encumbrances, except for those relating to accounts that are in the Contracts and Grants (CG) fund group, and carry forward internal and external encumbrances into the new fiscal year.
• Computing reversions and carry forwards.
• Closing of nominal (actual) activity to net expenses, net revenue, and fund balance.
• Establishing beginning balances for CG accounts that had activity in the fiscal year being closed.
These processes generate pending ledger entries which are then fed to the GL batch cycle. These year-end processes are run in sequence over the course of three cycles. Subsequent cycles depend on the successful completion of the preceding cycles.
If the
ANNUAL_CLOSING_CHART parameter is populated with one or more charts, only those
charts will be processed when the year-end batch jobs: Nominal Activity
Closing, Balance Forward, and Encumbrance Forward are run. If
no charts are specified, all charts will be processed.
Closing Encumbrances