NWOCA- USAS Calendar Year-End Closing Procedure
This procedure outlines the steps to be taken to close the USAS calendar year.
Preliminary Calendar Year-End Closing
1. Specify the TIN type on the "SSN/EIN" field on the vendor record in VENSCN.
2. Check 1099 data with datatrieve report VENSSN and look at 1099 vendors.
- Make sure to check that all vendors flagged to receive 1099's are ACCURATE (vendor name, address, 1099 type is valid/legal, and social security or tax ID number). Use the following options:
- 1099-MISC Vendors Only (Regardless of YTD Activity)
- 1099-MISC Vendors and YTD Activity > %99.99
- In Order to check for Vendors that have not been flagged, use the following option:
Month End Closing
4. Attempt to reconcile USAS records with your bank(s):
- In the USAEMSEDT Program, Option 1, Enter your cash reconciliation information
- Run BALCHK and Outstanding PODETL Reports
- Examine the MTD, YTD, and FYTD expenditure lines on BALCHK report (dollar amounts for cash, budget, & approp. accts should all be identical for each line on report)
- Examine the MTD, YTD, and FYTD revenue lines on BALCHK report (dollar amounts for cash and revenue accounts should be identical for each line on report)
- Compare Current Encumbered totals from the BALCHK and Outstanding PODETL reports. They should be identical…….. if not execute the FIXENC to correct and regenerate BALCHK and compare totals. If the totals still do not balance contact NWOCA personnel for assistance.
- 5. Run FINSUMM, selecting "Y" to generate the FINDET report for comparison.
- This will cause the FINDET report to be generated with identical selection criteria as the FINSUMM and will determine if it balances with FINSUMM.
- The total will display on the screen when run is complete. Compare the total from the FINDET and FINSUMM, they should be identical
If all above steps are performed and totals all agree, you are in balance and may proceed.
6. *****Optional Step (SM1/SM2) ****** From your *NORMAL account, run the SM2CALC program. The SM2CALC calculates the SM2 for the month, print the resulting report.
7. Log into your "B" account and at the menu prompt enter the command:
%COPY-E-OPENIN, error opening FSA:[DISTRICT]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
You will be prompted whether you want to generate the reports for NOW or LATER. (NOW would cause it to run immediately and LATER will run at night.) We recommend LATER to relieve load on the system during the day.
Please IGNORE the message at the end of the MONTHLYCD program that tells you to wait to run ADJUST until after MONTHLYCD has completed. This message is there for the benefit of the majority of the districts around the state who do not utilize monthly copy accounts. As long as you run MONTHLYCD from your "B" account you can set it to run for later and still run ADJUST from your live account immediately
- Upon completion of Monthly CD you will receive an email message in your "B" account; the reports will be accessible via the following URL: www.nwoca.org/fiscdrom/xx
xx meaning the two character abbreviation used for your districts archive account
9. Please verify that the reports appear on the web page and are correct.
10. Generate any additional month-end reports from your "B" account
|Select "month end processing" and indicate that all of your transactions for the month are completed. The ADJUST program will also automatically calculate your SM2 for the month.|
YOU MUST NOT BE RUNNING ANY OTHER PROGRAMS FROM YOUR NORMAL ACCOUNT DURING THIS PROCESS (THAT INCLUDES THE WEB AND PAYROLL PROGRAMS!)
Calendar Year-End Closing
14. Run the program F1099
If you are not ready to process your 1099s you may skip Step 14 (running the F1099 program) but you MUST continue on with the rest of the closing procedures starting with step 15.
- If you are ready to process your 1099s, run the F1099 program from your NORMAL account
- You will be asked your district information at the beginning of the program. The defaults in the reporting requirements section are the recommended settings but can be overwritten if desired. Be sure to say Y create a tape file as this is the file that will be sent to the IRS.
- If you are not ready to process your 1099s, continue on with the rest of the closing procedures and when you are ready, you may run the F1099 program from your B account.
- Contact NWOCA personnel by email (firstname.lastname@example.org) within 48 hours of running the F1099 program to print 1099's as the report file disappears after 48 hours.
Will reset all vendors flagged as "Reported" to "Reportable"
Last reported date will be left for historical tracking purpose
- Select the "Year-End" option and run for "Calendar".
YOU MUST NOT BE RUNNING ANY OTHER PROGRAMS FROM YOUR NORMAL ACCOUNT DURING THIS PROCESS (THAT INCLUDES PAYROLL PROGRAMS!)
You are now closed for the calendar year, proceed with January processing.
If you skipped step 14 because you were not ready to process your 1099s do not forget to go back to the _b account and process them before the deadline.