Sent to KFS-Update on July 30, 2015
July final transactions should be available for viewing in Decision Support on Monday, Aug. 10. If your department processed YEDA, AV, or YEAV e-documents in June as part of fiscal year-end close, you will see the reversals of those accruals and deferrals in your July (Fiscal Period 01) ledger.
The Account Summary Report (FSO100/200) will include balances that combine all carryforward and July activity.
Carryforwards and Base-Budget
In the Kuali Financial System, carryforward balances and base-budget are contained in either Fiscal Period BB (Beginning Balances) or CB (Contracts and Grants Beginning Balances). These transactions are not included in the July (Fiscal Period 01) account transaction ledgers.
The following transactions can be found in Fiscal Periods BB or CB:
- New Base-Budget and Current-Budget balances will be established in Fiscal Period BB
- Balance sheet account carryforwards are included in Fiscal Period BB
- Unexpended budget carryforward from the previous fiscal year are included in Fiscal Period BB
- Inception-to-date fund balance carryforwards are included in Fiscal Period CB
You can view the Contract and Grants Beginning Balance (CB) and Beginning Balance (BB) Fiscal Periods in the Account Transaction & Summary ledgers if you would like to see carryforward activity only.
Important! You should reconcile beginning balances as well as July ledgers, to ensure your June fiscal year-end interim period closing activity yielded the expected results.