1. Local Government Corporation
Resource 2018

2. NextGen – Fiscal Year End Local Government Corporation Resource 2018

3. NextGen – Fiscal Year End
Purchase Orders
Default GL Accounts
GASB54 Reporting
Create Fiscal Year
Roll Balances
Year End
Audit Files

4. Points to Remember
Review and Balance Accounts:
Amendments to Current FY budget
Expenditures that are over budget
Liabilities that need to be cleaned up
All Entries Complete
All cash accounts &/or bank accounts should be reconciled
Liquidate PO’s that do not need to carry forward into the new FY

5. Nextgen Purchase Orders Year End
No AP year- end process to complete in Nextgen
PO’s will pay as current year or prior year based on the dates used for the Purchase Order
Nextgen does not require running the PO Close Option

6. Purchase Order Scenarios
June is open :
then Customer Can do the Following: Add, Liquidate, and Issue Payments with a June Date
June is open, Current FY is open, New FY-YR created (which would open July):
Continue to add PO’s, Liquidate PO’s and Issue Payments dated June or July
June is Closed -
CANNOT- add a PO, Liquidate or Issue Payments with a June Date
ALL WORK must be dated with a day in the new FY
If you have a PO that needs to be entered as a prior year PO you can select the flag for Prior year PO when adding it into Nextgen. The system will then treat that PO as a Prior Year PO

7. Balancing Purchase Orders
The Difference between EC Previous Year Reserve (34120) and EC Previous Year Control
(14600) should be the actual outstanding amount of all PY PO’s
Balance of EC Previous Year Reserve (34120) should only change throughout the year if a Prior Year PO is deleted.
EC Previous Year Control (14600) normally only has debit entries. Credit entries would only be voided checks or JE’s for audit adjustments, etc.
Balance of EC PY Reserve (34120) should only change throughout the year if prior year PO’s are deleted.(Debit & Credit for amount deleted)

8. PO Balancing Report

9. PO Balancing Report Search for P.O. Balancing Report
Double Click Report to Open

10. PO Balancing Report
Select Year from Drop Down
Then Click “Next”

11. PO Balancing Report
If the Calculated Difference Column has an amount listed- recommended these be resolved as differences may lead to future balancing issues. We recommend that you do this on a monthly basis to keep this cleaned up throughout the year.

12. PO Balancing
Run a Statement of Expenditures from the Financial Management – Reports menu to view your Outstanding Encumbrances.

13. PO Outstanding By GL Account Report
Compare the totals on the YTD Outstanding Encumbrances from Statement of Exp. Report to the sum of the obligated and unliquidated columns from this report- if different look at next slide

14. Differences
Look at each PO on the outstanding report to see if in fact they are outstanding or should be liquidated.
If those PO’s are in fact outstanding but the reports aren’t matching- Entries can be made to correct this- Call LGC if you need help.

15. PRIOR YR PO BALANCING Run PO Outstanding by Gl Account Report
Leave Blank field “From Purchase Order Date” Field “Thru Date” Use the last day PO yr (6/30/16)
Run a Balance Sheet or Trial Balance From FM Menu
Compare the sum of the Unliquidated totals which should equal the difference of the Reserved for Enc. Prior Year Account (34120) and Exp Chgd to Reserve for Prior years Account (normally 14600)
Equation: Outstanding PO Total=Account Account

16. How to use PO Outstanding Listing by GL Account Report?
For fund 116 the total Outstanding PO is $4,225.77
Unliquidated PO’s + Obligated Amount = Current Year Po’s
Should match the following accounts on the Trial Balance report

17. Trial Balance Report (FM- Reporting)

18. Beginning YR End Process
Create Fiscal Year
This can be done prior to closing June or the fiscal year
Create Fiscal Year can be done multiple times
This must be done before any entries are made in July for the new fiscal year
All Periods must be closed and should be balanced before you close the fiscal year

19. Click Contents from NG Ribbon Bar- Tools Tab
HELP!!!
Click Contents from NG Ribbon Bar- Tools Tab

20. Default GL Accounts
VERIFY Default GL Accounts are set up correctly. These must be set accurately for the year end balances to roll properly
Run a Default GL Account Exceptions Report to see how they are set up

21. Report- Default GL Account Exceptions

22. Default GL Accounts To Verify Default GL Accounts Go to the following:
Financial Management
Administration
Default GL Accounts
Select the current fiscal year
Click Find

23. Default GL Accounts- Tab 1
Tab Screen- General
Unless you have Cash On Hand this would be blank

24. Default GL Accounts- Tab 2 and Tab 3
Tab 2 Account Control Balance
Tab 3 Budget Offset

25. Default GL Accounts -Tab 4 and Tab 5
Tab 4 Prior Year
Tab 5 Prior Yr Encumbrance

26. Default GL Accounts- Tab 6 and Tab 7
Tab 6 – Cash Account
Tab 7 – Accounts Payable

27. Default GL Account – Tab 8 and Tab 9
Tab 8 Purchasing Discount
Tab 9 – Federal Reporting

28. GASB54
How to handle GASB54 entries (YF Transactions= GABSB54 Fund Balance Spread)
Roll to New Year:
If you choose this method, the GASB54 entries for reclassifying these accounts must be posted before you close the last period of your fiscal year.
Also, the flag “Include GASB54 Adjustments in Beginning Balances” needs to be checked in the account control table.  
Reporting Only: If you Choose This Method
GASB54 entries to reclassify the Fund Balance accounts can be made before or after you close the fiscal year.  
Flag -“Include GASB54 Adjustments in Beginning Balances” needs to be un-checked in the account control table.  
NOTE:  The encumbrance entries (YE) will not roll in beginning balances.  The prior year encumbrance account will report as normal and not spread in the new year, even with the flag “Include GASB54 Adjustments in Beginning Balances” checked.

29. GASB54 Closing Entries
Before you make the GASB54 entries (whether before or after year end), you must Generate GASB54 Closing entries
Financial Management
Period End
Generate GASB54 Closing Entries
This option generates a closing entry using a YC transaction type that mimics the year end closing entry that closes out the revenue/expenditure accounts to fund balance. The entries will be posted in the last period of the fiscal year that is ready to be closed and it allows you to see the anticipated fund balance totals. This entry only affects the GASB54 reports.

30. GASB54 Balance Sheet Financial Management Reporting Reports
You may print, view or export the GASB54 Balance Sheet before making entries. This will show you the anticipated fund balance totals and can be used as a basis to calculate your GASB54 entry.
Financial Management
Reporting
Reports

31. GASB54 Balance Sheet Find and Open the GASB54 Balance Sheet
Report Criteria:
General Tab
Report By: Period
Fiscal Year: Select the current fiscal year
Thru Period: Select the last period of your fiscal year
Check mark the appropriate account controls
Advanced Tab
Select Account Types:
Assets, Equities, and Liabilities
At the bottom of the screen check
Show Revenue and Expenditure Totals
Any Finance Office

32. Create Fiscal Year

33. Create Fiscal Year Financial Management Period End Year End
This has to be executed before any entries can be entered for the new fiscal year.   
Creates all administration tables for the new fiscal year
Rolls the ACTIVE and INACTIVE account control (funds) that are flagged in the Account Control Administration table .
If you used the NextGen Budgeting option the fiscal year may already be created. It can be ran multiple times. Any accounts added since will be added this time.
Financial Management
Period End
Year End
Select Current Fiscal Year
New Year Appears by Defaults
Anywhere County
2019

34. Roll Balances
Financial Management
Period End
Roll Balances
Select Fiscal Year
Select Account Controls (as needed)
Note: This option can be executed at any time before the year end is started. You should view a balance sheet for the new fiscal year after executing the Roll Balances option to verify the new balances. If corrections are needed you can make them and roll the balances again.

35. NextGen – Fiscal Year End
Click Each Link as it becomes available moving from the top to the bottom

36. You may do the year end process one account control at a time
Year-end Reminders
You may do the year end process one account control at a time
Make sure all of your account controls are listed. (If one is missing you may not have closed all of the periods for the fiscal year)

37. Year End
If you have already created the new fiscal year, you will be prompted.
  Click Yes to create or update the new Fiscal Year.

38. NextGen – Fiscal Year End
Scan for un-posted transaction – If any exists, this option will allow you to print a report of them.  
Post Transactions If unposted transactions exists, this option allows you to post or delete them
(If greyed out after scanning, that means there are no unposted transactions)
Unposted TR exists, NG will take you to the Batch search for unposted-
Open batch and delete or post- when finished NG will take you back to Period End Process

39. Year End This option will display/print a Year End Balance check.
Verify the closing accounts are correct and the balances are as you expected.
This will list the accounts that are flagged to close, as well as your closing fund balance and prior year purchase order accounts.

40. Year End
Click Print Year End Reports: This option will print your year end reports.
Select the Year End Report Package
Click Next
The Year End Reports will display, you may print them or save them to a PDF.
Click Finish when done.

41. Year End
Click Complete Year End: This option flags year end as closed on the account control.
Note: Once you have completed the year end, print a balance sheet for the new fiscal year to verify the balances are as they should be.  

42. NextGen – Fiscal Year End
If YR-End Process is started, it can be saved and finished later. To Find it-
Click FIND – Search for existing batch that has is still “Open”
Anywhere County
Anywhere County

43. Backup reminder
Remember- These should be kept offsite in case of a fire or natural disaster
See Auditor for Requirements
Three Backups
Before June is closed
Before Year End Closing
Post Year End Closing

44. Audit Files
SDE, YTD Audit File, and STATEPC exports are under this option.
Financial Management
Period End
Audit Files

45. Audit Files User can save files to variety of locations.
SDE, YTD Audit File, and STATEPC exports are under this option.
User can save files to variety of locations.
Options can be run at any time.

46. QUESTIONS ???

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