The YEDA is a KFS e-Document used during fiscal close to process accruals and deferrals that exceed the UCI's materiality threshold. This year, that threshold has been set at $10,000 with limited exceptions. The YEDA will only be available to users from July 12 to July 18.
The e-document uses a two-step process to ensure that income or expense is recorded to the appropriate fiscal year. First, the YEDA records the accrual or deferral transaction you’ve specified as part of Period 12 of the 2017-18 fiscal year. The YEDA then automatically reverses that accrual/deferral in Period 1 of the new 2018-19 fiscal year. The first step ensures the expense or income is recorded in the appropriate fiscal year. The second step reverses the transaction ensuring that the actual transaction (invoice, revenue, etc.) is the only effective record.
The YEDA creates two entries on the General Ledger: an entry for the accrual/deferral and a second entry for the reversal. Both of these entries will have the "YEDA" document type.
Tips for Creating a YEDA
- The Year-End Department Accrual (YEDA) e-document will be on the KFS admin page starting on July 12.
- The only mandatory tabs in the YEDA eDoc are Document Overview, Department Accrual Details, and Accounting Lines. You should be familiar with the Document Overview tab from working on other KFS eDocs. Make sure you provide enough information so that your unit can identify what the accrual is for later.
- Before you can enter your accounting lines, you must first select an accrual/deferral type from the Department Accrual Type drop-down menu in the Department Accruals Details tab. The table below describes each type of accrual and deferral.
YEDA Document Accrual/Deferral Types
|A/P Accrual||For all Accounts Payable accruals (for example, DVs and PREQs) for all campus units except the Medical Center, UCI Extension, and auxiliary organizations.|
|A/P Accrual Auxiliary||For all Accounts Payable accruals for auxiliary organizations.|
|A/P Accrual UCIMC||For all Accounts Payable accruals for the Medical Center.|
|A/P Accrual UNEX||For all Accounts Payable accruals for the UCI Extension.|
|Accrual Income UCIMC||For accruing income for the Medical Center|
|Accrued Income||For accruing income for all campus units except the Medical Center.|
|Deferred Expense||For deferring an expense into the new fiscal year for all campus units except auxiliary organizations.|
|Deferred Expense Auxiliary||For deferring an expense into the new fiscal year for an auxiliary organization.|
|Deferred Income||For deferring income into the new fiscal year for all campus units except the Medical Center|
|Deferred Income UCIMC||For deferring income into the new fiscal year for the Medical Center.|
|Most common accrual/deferral types are highlighted in gold.|
- After you’ve selected an accrual/deferral type, enter in the amount of your accrual or deferral, filling out the accounting lines as you normally would.
- Nothing further is needed. No supporting documentation is required to process a YEDA although your unit may have stricter requirements.
- Check your document for accuracy because the YEDA’s workflow is accelerated and does not require Fiscal Officer approval. If desired, the initiator of a YEDA can ad-hoc route for FYI or Acknowledge.
- All YEDAs must be submitted and approved by Friday, July 18.