How do I prepare for Year End?

All schools to prepare for closedown, start by running year-end checks (Reports | Year End | System Checks). It is good practice and helpful to print these reports out. Any potential problems with year-end will be identified for you and enable you to resolve them straightforwardly.

Check invoices (All Schools)

All schools to check that invoices yet to be reconciled (which appear in Central | Manual Reconciliation) are genuinely recent ones.

In Central | Manual Reconciliation use the Sequence button to put the list in “Pay By” order – this may help in spotting the older items. This is useful, as some items might have been reconciled as Direct Central Payments (Central | Central Payments) when they should really have been actioned as reconciliation invoices (Central | Manual Reconciliation). This means the item may appear both as an actual and as a commitment, a double count that the process of checking to FINEST does not reveal.

Corrective action: Identify the entry in the General Ledger | Chart of Accounts Review to determine the ledger code, fund code, cost centre, amount and period. Then make a contra entry with the same details but with a negative amount as a direct central payment (Central | Central Payments). Next reconcile the invoice correctly in Central | Manual Reconciliation, remembering to enter the appropriate period.

Review orders (All Schools)

All schools to review the outstanding orders within the system by using Reports | Accounts Payable | Purchase Order Reports | Purchase Orders and select Outstanding Orders and after printing, checking to see which orders appear to have commitments outstanding against them

  • Have they been completely invoiced?
  • Has the invoice been inadvertently cleared through the non-order invoice process?
  • Check any free text orders; if the order is complete cancel any outstanding commitment.
  • Have the goods been included on another invoice? If so you should cancel the commitment.
  • Are the goods still required? If not cancel the order (through Accounts Payable | Purchase Order Processing) and tell the supplier.
  • Are the goods going to be supplied in the future? (E.g. are they no longer made or out of print). If they will not be supplied cancel the remaining part of the order. Confirm this with the supplier.

Clearing Salary Commitments – including unwanted (All Schools)

Year End – Clearing Salary Commitments

Ideally there will be no outstanding salary commitments, but for many reasons this is not always the case.

FMS6 is insistent that all salary commitments are cleared before Final Closedown can be undertaken.

  • Use Personnel Links | Salary Projections
  • Highlight All Cost Centres
  • Click on View Details
  • Examine the column headed Commit
  • For each month that you have reconciled there should be a ZERO difference.
  • If any entries are significant they may need further investigation.
  • You may wish to print the report for reference.
  • Close the report window.

Click on Clear Commitment.

Change the period that required, where an outstanding commitment exists (edit or use the browser)

The screen will show any outstanding commitments for that month.

If you wish to examine in more detail why a commitment still exists, click on cancel and return to salary projections for checking.

Otherwise, to cancel the commitment:

Either click on Tag All or, click in the left hand column to tag the required records.

Click on Clear Commitment and confirm.

After a brief while the data will be cleared, and you can change month to do more clearing of commitments or Save to finish.

HOW DO I REVIEW AND CLEAR UNWANTED STAFFING COMMITMENTS?

Regular action should be taken to review and clear any outstanding staffing commitments. To do this, use Salary Projections, highlight each cost centre and use view details to determine if there are any outstanding commitments for that cost centre. If any commitments need cancelling use the Clear Commitments icon to select the month and then clear any outstanding commitments. Although you are strongly recommended to ensure that outstanding commitments are cleared, it is possible to close the old year without clearing every one.

Checking invoices (All Schools)

Check that invoices yet to be reconciled (which appear in Central | Manual Reconciliation) are genuinely recent ones.

In Central | Manual Reconciliation use the Sequence button to put the list in “Pay By” order – this may help in spotting the older items. This is useful, as some items might have been reconciled as Direct Central Payments (Central | Central Payments) when they should really have been actioned as reconciliation invoices (Central | Manual Reconciliation). This means the item may appear both as an actual and as a commitment, a double count that the process of checking to FINEST does not reveal.

Corrective action: Identify the entry in the General Ledger | Chart of Accounts Review to determine the ledger code, fund code, cost centre, amount and period. Then make a contra entry with the same details but with a negative amount as a direct central payment (Central | Central Payments). Next reconcile the invoice correctly in Central | Manual Reconciliation, remembering to enter the appropriate period.