Trustee Year End FlexGen
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Transcript of Trustee Year End FlexGen
Trustee Year End
FlexGen
Overview
Verify account balances
Print “time critical” reports
Change default settings for new year
Close month of June
Close End of Year
Verify account balances
UnProrated Receipts Report
All the balancing in the world won’t help if you have UnProrated Receipts !
Verify account balances Bank Analysis Report and MTD Trustees Reports
Verify account balances
Trial Balance Report (or Balance Sheet) used to verify ending balances
Print “Time Critical” Reports – Property Tax
ACV Listing – “Applied, Unreconciled”
Unreconciled ACV amount should match the Trial Balance 11410
Print “Time Critical” Reports - Accounting
Y-T-D Trustee Report
YTD Trustee Reports can help Departments with their annual reporting requirements
If needed, it should be printed before closing June, along with MTD Trustee’s Reports.
Print “Time Critical” Reports - Accounting
Y-T-D Trustee RDB Report
One copy is printed during year end closing, if extra copies are needed print before closing June
Print “Time Critical” Reports – Property Tax
Tax Aggregate By Tax Year Report
Should be printed after close of business June 30 and before receipting begins July 1
Compare this to the Master Summary totals.
Print “Time Critical” Reports – Property Tax
Summary Master Listing
Compare the totals with the Tax Aggregate.
Print “Time Critical” Reports – Property Tax
Tax Roll Report – “Unpaid”
This should also match the Tax Aggregate Report
Print “Time Critical” Reports – Property Tax
Summary Audit Net Change Report
This should also match the Tax Aggregate Report
Change Default Settings for New Year
Revenue Codes
Change the revenue control first.
Set 40120 to the current allocation table. This will make the default code changes easier.
Change any other revenue that pertain to current tax year; 40620 SSD’s, etc.
Change Default Settings for New YearDefault Codes
Change the Default codes to 40120 before receipting on July 1.
Make sure to look at all your default codes; with a tax rate, with out a tax rate, and for all Tax Types.
Run a Default code report for 2013 and review.
Change Default Settings for New Year
New Allocation Table
Set up the New Tax Rate for 2014 when it’s available.
As a rule, 2013 tables shouldn’t be changed
Beginning the Closing - Preparations
Check Your Supplies
Extra Paper Printer Ribbons / Toner Backup Media - USB / Tape Crying Towel / Kleenex
Just kidding ! It’s not that bad.
The Closing
Closing June
Print all monthly pre-closing reports as usual
Warrant Listings Receipt Listings – Paid and Paid Bank Analysis Extra MTD / YTD Trustee Reports Extra R-D-B Reports Cost Center Reports Any other reports you might normally print at
Month End before closing a month.
The Closing
Closing June
Prior to starting the Month End Option be sure to make your first backup labeling it “Pre-Year End Closing 2013-14”
There are 3 “daily” backups that will be done during the Year End process. All are equally important.
The Closing
Closing June – Everyone else needs to be logged off.
After completing step 4 of Month End Option be sure to make a backup labeling it “Mid-Year End Closing 2013-14” This is Backup #2
The Closing
After June’s closing, and the 2nd backup is completed you should move on to the Year End Closing.
Again, Everyone needs to be logged off during this process!
The Year End does not have to be done immediately after June’s closing, but there’s no reason to keep it open unless you just want to take a break and finish it tomorrow.
The ClosingYear End Closing – complete the final 6 steps !
The Closing
Wait – you’re not done yet !
Now that the Year End steps have been completed we still have that last important step to do.
Backup # 3 needs to be completed. Label it: “Fiscal Year Beginning July 2014”.
NOW you can breathe !! Congratulations !