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Accounts Receivable
Accrual Process For
FY06
Accounts Receivable Accrual Process
Specialized SubsystemEstablishes Estimated ReceivablesAllows
Complete audit trailVariety of reportsAutomatic generation and offset entries
Transaction Table As ResourcePage
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Accounts Receivable Accrual Process
Designates Amounts Due But Not Yet ReceivedPost Against ReceivablesGenerate Reports
Must Use SystemAllows Setup and Payment in Proper Years9229 FY06 to 9210 FY07
2004/2005 Accounts Receivable Cleanup
By Friday, June 9, 2006No Open ReceivablesZero 9210 G/L Balance
Clear Outstanding FCS BatchesNo Orphan BatchesOpen, Closed, Held for AuditSee Closing Manual For Procedures
Page 2
2004/2005 Accounts Receivable Cleanup
Run “Open Receivables Report”Run in PRIXX, Only Task Done in FY05Screen Print A/R Manual on Page 2/3
From/To 0-999999
Identify Remaining Items
Run G/L Detail ReportRun in FY06 From FIN MenuGLD120 Object 9210See Year-End Closing Manual
2004/2005 Accounts Receivable Cleanup
No Open Receivables/9210 G/L Balance Zero
***YOU’RE DONE***
No Open Receivables BUT G/L Balance Transactions Other Than AR System to 9210
Check G/L ActivityJE to Credit 9210/Debit Appropriate Revenue Account
Open Receivables BUT No G/L BalanceAR Entries Booked as FY06 Receipts
Check Cash ReceiptsZ out Receivable – System Automatically Fixes BooksJournal if Setup and Receipt Accounts DifferJE to Credit 9210/ Debit to ER Setup Account
Page 3
2004/2005 Accounts Receivable Cleanup
Review Remaining AR Entries For ValidityIf Not Needed
Z out to removeRelease Batch
If NeededZ to remove, Release BatchRe-establish as FY06 Receivable
Done by June 9, 2006Purge of FY05 Data - Early July
Page 4
2005/2006 Estimated Receivables
Year-End Closing Manual GuidelinesAccounts Receivable Definition
Page 5 Receivable Manual
BDX/FAR Revenue Account ReviewCredit Memo’s From APYTransaction Table Resource For FY
Page 5
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2005/2006 Estimated Receivables
Estimated Receivable (ER’s) Auto-Number Beginning 060001
Use 06302006 for DateReference Field is Any 6-digitsDescription of Who Owes and For What 26 Digit Code Valid in FY07 a Must
See 5/11/06 Matrix Change Memo
Amount DueAccrual Object 9229 Preset
Open Until July 31, 2006
2005/2006 Estimated Receivables
Changes Before July 31, 2006Only For AR’s With No ActivityAdd New AR’s For DifferencesDone in Appropriate Fiscal Year (See Chart)
Know Differences in Estimated ReceivablesG/L Balance 9229 Should Balance to Total Estimated Receivables Report
Page 6
2005/2006 Estimated Receivables
Far311 When Done For Fiscal Year
Dates – 6/30/06 to 7/01/2006Signature PageCombined A/R’s and PCL’sFund Sort
Review Report For AccuracyPage 7
2006/2007 Receivable(AR) Receipts
Run Receivable Transaction ReportR on Add Receivables/Setup ScreenReference Number SortUpdate Often/Keep Handy
Use AR Receipt or Cash ReceiptsScreen Print Page 8 in A/R ManualPayment Types
PartialFinalZ or Liquidate Do Not use C (Close)
2006/2007 Receivable(AR) Receipts
Clear 06XXXX A/R’s in FY07See Example Page 9 A/R Manual
Changes to Existing FY06 AR’sBatching Procedures
Same as Cash Receipts, Except….Z’d Out Entries Create BatchesNo Transmittal Report for SCOE
Page 10
Accrual ReportsReports Menu Screen Print Page 11Receivable Transaction Report
Lists All AR’s With Date, Descript, Acct and Ref
Open Receivable ReportList Open AR’s With Remaining Balances
Receivables History ReportAR Setups/Receipts by Ref # or Vendor
Pages 11/12
Accrual ReportsEstablished Receivables Financial Report
AR Setups by Account Code
Receivables Reconciliation ReportAR Setups and Receipts by Account Code
Receivables/Payables Financial Activity(FAR311)
FY06 or FY07Signature Page, Total AR’s/PCL’s, Fund SortFAR311 Advantage/Review Report
Page 12
2005/2006 Accounts Receivable
Cross Reference Year-End Closing ManualDistrict Responsibilities
Vocational Ed - Federal GrantsMandated Costs (Only if Received)Do NOT Set Up PL81-874Contracts – Money Due DistrictCafeteria – Due to/Due From
Not permanent transfersMust balance
Lottery – 3rd/4th Quarter Apportionment Entry Watch for Notice from Accountants
Page 13
2005/2006 Accounts Receivable
SCOE ResponsibilitiesEither will make entries or provide spreadsheet for district entries
Title I (Resource 3010) 80% to dateSpec Ed PL 101- 476 (Resource 3310) 75% to dateLottery (Resource 1100/6300)
Page 14
2005/2006 Accounts Receivable RemindersNo Invalid FY07 Resource Use
5/11/06 Matrix Change Memo
No JV’s, Cash JV’s, or Cash TransfersUse Accounts Receivable Accrual System (A/R)9229 to 9210 System Entries
Check For Z’d BatchesFAR311
Signature Page/Combination of AR’s/PCL’sBreak by Fund
July 31, 2006 Last Date to EstablishPage 14
