There is a video tutorial walking through fiscal year end on the PINES Learning Center.
Year End closeout is the method that Acquisitions uses to close out one fiscal year and begin another.
Preparing for year-end mainly involves cleaning up your acquisitions activities over the past year and tying up any loose ends. This is mainly done through running a series of reports to give you a snapshot on the status of your acquisitions.
In terms of acquisitions, “freeze” generally refers to making purchases. So this would mean halting purchasing for the length of the freeze, not stopping marking items received or closing invoices.
Whether or not to establish an acquisitions freeze is a local decision. There are several reasons why you may want to institute an acquisitions freeze, whether it’s for a month or a week.
Why might you want to establish a longer acquisitions freeze?
Whether or not to cancel backorders is a local decision, but that decision must consider the way that funds are set up.
If you have purchase orders in your current fiscal year where you would like the backorders to carry into the next fiscal year, the following settings are required:
If you will not be rolling your money forward, or just do not wish to carry backorders into the next fiscal year, you will need to cancel those line items in Acq before doing your fiscal year end. To do this:
There are several reports to run, and there is a somewhat logical order to run the reports in. You may wish to follow the workflow proscribed here. All reports are located in Reports→Shared Templates→PINESacqadmin→Year End Reports.
You will want to run these reports once your freeze has started–possibly a month or more before year end–to assess your current status and what needs to be resolved. Then you will want to run these reports again just a few days to a week prior to closeout, to clean up any remaining issues.
1. Report: “List of funds with parameters”
This report is to aggregate all the parameters of each of your funds for you to confirm that they have the appropriate settings before closeout
Done | Action |
---|---|
Confirm that all the funds you wish to be propagated in the new year have Propagate=True | |
Confirm that only the funds you wish money and/or encumbrances to rollover have Rollover=True | |
Any fund marked Rollover=True must also be marked Propagate=True |
2. Report: “Copies that are still on-order”
The goal after cleaning up with this report and the following one is that all line items will be either received or cancelled. If encumbrances are carried forward, “on-order” or “backordered” are also acceptable.
Done | Action |
---|---|
Verify using packing slips if items were physically received | |
If they were, mark items received in Acquisitions | |
If not received, check if items were backordered/cancelled by the vendor. If so, mark backordered/cancelled in Acquisitions | |
If choosing to cancel backorders, you may wish to cancel with vendors at this point and mark items as Cancelled in Acquisitions | |
If not cancelling backorders, confirm that these items are billed out to funds marked Rollover=True |
3. Report: “Copies that are still backordered, delayed, etc.”
Repeat the same steps as the on-order report to find any items that are still open.
Done | Action |
---|---|
Verify using packing slips if items were physically received | |
If they were, mark items received in Acquisitions | |
If not received, check if items were backordered/cancelled by the vendor. If so, mark backordered/cancelled in Acquisitions | |
If choosing to cancel backorders, you may wish to cancel with vendors at this point and mark items as Cancelled in Acquisitions | |
If not cancelling backorders, confirm that these items are billed out to funds marked Rollover=True |
4. Report: “Purchase orders with pending or on-order status”
Done | Action |
---|---|
If there are any purchase orders that are in pending status that you wish to order, they should be activated | |
If there are POs that you did not want to order (errors, POs with all line items deleted, etc), you may want to change the PO names to designate that they are not real orders (e.g. DELETE-Mayordererror) | |
Most of the on-order POs should have been cleaned up by the previous report (Line items not received), so you may want to investigate any remaining POs with a status of “on-order” |
5. Report: “List of invoices that are not closed”
Done | Action |
---|---|
Confirm if invoices have already been sent to Accounting for payment | |
If so, mark invoices as closed | |
If invoices have not been sent, close and send for payment |
6. Report: “Fund summary”
If you have funds that rollover money and/or encumbrances, you may wish to run this report immediately prior to doing your dry run closeout. That way when you view the dry run of the new created funds you can spot-check that the numbers are correct, and once you do the final closeout you can compare against the money and/or encumbrances that were moved between fund years.
The Acquisitions module provides you a method to do a “pretend” closeout to double-check that your funds, money and/or encumbrances will be carried over correctly and successfully before doing it for real. This is called doing the “dry run.”
Instructions for doing the dry run are included as part of the steps for performing closeout, and depend on whether you are rolling over or not:
After you have done your prep work of running reports, cleaning up your data and doing a dry run, you should be ready to complete your year end closeout.
Each of the sections below includes instructions for running a dry run before completing the official closeout. This is highly recommended.
1. Using your Fund report, ensure that all of your funds are marked Rollover=FALSE.
2. Open Administration→Acquisitions Administration→Fund Administration.
3. Ensure the Library selector is set to your normal ordering agency. If you have any funds at the branch level, make sure to click the “+ Descendents” ticky box.
4. Beneath the Library selector, you will see a button marked Fiscal Propagation & Rollover. When clicked, this will open a new popup.
5. To perform the dry run first, make sure your screen has these options enabled:
6. Click Process.
7. The popup will refresh, and at the bottom it will give you a summary for what will or will not be propagated and rolled over for the next year.
8. If everything is correct, reopen the Funds screen via Administration→Acquisitions Administration→Funds.
8. Repeat steps 3 and 4.
9. To do the real closeout, these options should be checked on the closeout pop-up:
10. Click Process.
This will affect ALL FUNDS marked as Rollover=True
1. Using your Fund Parameters report, confirm that all funds that you want encumbrances to roll over are set as Rollover=True.
2. Open Administration→Local Administration→Library Settings Editor.
3. Filter the list to your system level. Ensure that “Allow funds to be rolled over without bringing the money along” is set to TRUE.
4. Open Administration→Acquisitions Administration→Funds.
5. Ensure your Context Org Unit is set to your system level.
6. At the top right, you will see a button marked Fund Propagation & Rollover. When clicked, this will expand the closeout menu.
7. To perform the dry run first, the options below should be checked:
8. Click Process.
9. The screen will refresh to give you a snapshot of what your funds will look like when created in the new fiscal year. Ensure that the area at the top confirms that no money will be rolled into the new year.
10. If everything is correct, reopen the Funds screen via Administration→Acquisitions Administration→Funds.
11. Repeat steps 5 and 6.
12. To do the real closeout, these options should be checked on the closeout pop-up:
13. Click Process.
This will affect ALL FUNDS marked Rollover=TRUE
1. Using your Fund Parameters report, ensure that all funds to be rolled over are marked Rollover=True.
2. Open Administration→Local Administration→Library Settings Editor.
3. Filter the list to your system level. Ensure that “Allow funds to be rolled over without bringing the money along” is set to FALSE.
4. Open Administration→Acquisitions Administration→Funds.
5. Ensure your Context Org Unit is set to your system level.
6. At the top right, you will see a button marked Fund Propagation & Rollover. When clicked, this will expand the closeout menu.
7. To perform the dry run first, the options below should be checked:
8. Click Process.
9. The screen will refresh to give you a snapshot of what your funds will look like when created in the new fiscal year. Ensure that the area at the top confirms that the correct amount of money will be rolled into the new year.
10. If everything is correct, reopen the funds screen via Administration→Acquisitions Administration→Funds.
11. Repeat steps 5 and 6.
12. To do the real closeout, these options should be checked on the closeout pop-up:
13. Click Process.
Once you have done your closeout, you are officially into your new fiscal year in Evergreen. There are only a few more tasks to finish up closeout and beginning your new year.