The following sequence of steps should be completed at the end of the EIS fiscal year.
Scheduled for the May 21, 2020 EMIS Release, the removal of capital asset reporting. Capital assets are no longer needed and will no longer be collected during Period H reporting.
You should continue to add items received prior to July 1 to the system before using this procedure. If items were ordered prior to June 30, but are not received until after June 30th, they will need to be posted in the next fiscal year. You can continue to add items to the pending file even though they may not be posted in EIS until next year.
If the depreciation data has been changed so that it is necessary to completely recalculate the life-to-date (LTD) depreciation for several items, you may need to run EISDEPR. Just note that running EISDEPR will affect items that have had improvements (additional ACQTRN's) added to them causing them to lose their true depreciation history
- 1. Districts with a Dollar and Life Limit specified for the capitalization criteria may choose to run an EIS304 Brief Asset Listing to verify all items meeting the dollar and life limit capitalization criteria are on file as capitalized assets. When running the EIS304, only non-capitalized items should be selected as well as selecting only items with an original cost equal or higher than the capitalization threshold. The report will display a listing of items that currently are not capitalized but exceed the $ threshold. Review the tags in question to verify that the life expectancy is under the life limit threshold and therefore should not be capitalized. If you find tags that meet or exceed the life limit, please contact NWOCA fiscal staff to assist in determining why they aren't being capitalized.
- 2. Run any fiscal year end reports desired. Please review them carefully and correct any errors.
If you DO NOT wish to close EIS for the year until auditor review, you may hold off on completing the rest of the EIS closing procedures until the audit is finished. However please note you will not be able to enter inventory for the new year until you have completed ALL of the closing steps.
- 3. Run EISCD, Enter the command:
If you are using ENTITY ID's to eliminate bulk items from the GAAP reports, be sure to select the option to exclude those entities. An example EISCD run excluding entity ID: NOGAAP
Upon completion of EISCD you will receive an email message in your account; the reports will be accessible via the following URL:
-xx meaning the same two character abbreviation used for your archive account
If you have selected the "later" option in EISCD, the reports will need to generate overnight and will not be available for viewing on the EISCD website until the next day.
4. Verify that the reports appear and are correct on the EISCD website.DO NOT PROCEED until reports have been verified on EISCD
5. Create a copy of the EIS files, Enter the command:
BEWARE of anything the computer displays on your screen which contains the word "error"
%COPY-E-OPENIN, error opening NBA:[GLORE.TEST]ACCT.IDX;2 as input -RMS-E-FLK, file currently locked by another user
THIS IS AN ERROR CONDITION AND THE USER SHOULD INFORM NWOCA IMMEDIATELY
Provided no messages appear in the form described above, the user may proceed
6. Run the fiscal year-end closing program EISCLS
- 7. If you are going to begin GAAP reporting for the coming fiscal year contact NWOCA, OTHERWISE you are ready to begin processing for the new fiscal year.
These reports are included on the EISCD and may also be selected to print on EISFYEND quebatch:
- EIS101 Schedule By Source
- EIS102 Schedule by Function/Class - All Options (summary & detail)
- EIS103Reports: The following 103 reports are recommended and are automatically generated in EISCD and prompted for in EISFYEND quebatch.
- EIS103CL Schedule of Changes in Fixed Assets by asset class (summary & detail)
- EIS103FC Schedule of Changes in Fixed Assets by function (summary & detail)
- EIS103FD Schedule of Changes in Fixed Assets by fund (summary & detail)
- EIS104Reports: The following 104 reports are recommended and are automatically generated in EISCD and prompted for in EYSFYEND quebatch.
- EIS104CL Schedule of Changes in Depreciation by asset class (summary & detail)
- EIS104FC Schedule of Changes in Depreciation by function (summary & detail)
- EIS104FD Schedule of Changes in Depreciation by fund (summary & detail)
- EIS203Asset Listing by Grant/Source
- Provides you with a listing of acquisition transactions by source account code and/or by a grant identifier. This is an optional report and contains much of the information found on the acquisition transaction record plus the location of the asset.
- EIS303Master Listing - All Items
- Provides you with an updated master list of your fixed assets. This report is an optional report and extremely large so we don't recommend printing out a hard copy of the report.
- EIS304Brief Asset Reports: The following EIS304 reports are recommended and are automatically generated in EISCD and prompted for in EISFYEND. The five reports include capitalized items only and Status Codes of "A, N, EH, and EN" (with the exception of the disposition report).
- EIS304ACQ Acquisitions for current fiscal year
- EIS304CL Brief Asset Listing by asset class
- EIS304DSP Dispositions for current fiscal year
- EIS304FC Brief Asset Listing by function
- EIS304FD Brief Asset Listing by fund
- EIS305Book Value Reports: Provides you with necessary depreciation information. The date 06/xxxx (where xxxx is FY being closed) is used for the reporting date. The four reports include capitalized items only and Status Codes of "A, N, EH, and EN" (with the exception of the disposition reports).
- EIS305CL Book Value Report by class
- EIS305DSPCL Depreciation for current FY dispositions by class
- EIS305DSPFC Depreciation for current FY dispositions by function
- EIS305FC Book Value Report by function
- EIS401Values for Insurance Report
- Recommended if the district maintains current replacement cost and/or insurable values on the inventory item records.
- EIS801Official Audits Report
- Recommended. Select the Official Audit Report to be kept on file for the auditors
- EISCLSReports: The following reports are included in EISCD but are not prompted for in EISFYEND quebatch.
- EISCLS EIS Closing Projection – Ending Balances by Fund
- EISDEP EIS Closing Projection – Depreciation Posting Report