Trustee Year End

FlexGen

Overview

Verify account balances

Print “time critical” reports

Change default settings for new year

Close month of June

Close End of Year

Verify account balances

UnProrated Receipts Report

All the balancing in the world won’t help if you have UnProrated Receipts !

Verify account balances Bank Analysis Report and MTD Trustees Reports

Verify account balances

Trial Balance Report (or Balance Sheet) used to verify ending balances

Print “Time Critical” Reports – Property Tax

ACV Listing – “Applied, Unreconciled”

Unreconciled ACV amount should match the Trial Balance 11410

Print “Time Critical” Reports - Accounting

Y-T-D Trustee Report

YTD Trustee Reports can help Departments with their annual reporting requirements

If needed, it should be printed before closing June, along with MTD Trustee’s Reports.

Print “Time Critical” Reports - Accounting

Y-T-D Trustee RDB Report

One copy is printed during year end closing, if extra copies are needed print before closing June

Print “Time Critical” Reports – Property Tax

Tax Aggregate By Tax Year Report

Should be printed after close of business June 30 and before receipting begins July 1

Compare this to the Master Summary totals.

Print “Time Critical” Reports – Property Tax

Summary Master Listing

Compare the totals with the Tax Aggregate.

Print “Time Critical” Reports – Property Tax

Tax Roll Report – “Unpaid”

This should also match the Tax Aggregate Report

Print “Time Critical” Reports – Property Tax

Summary Audit Net Change Report

This should also match the Tax Aggregate Report

Change Default Settings for New Year

Revenue Codes

Change the revenue control first.

Set 40120 to the current allocation table. This will make the default code changes easier.

Change any other revenue that pertain to current tax year; 40620 SSD’s, etc.

Change Default Settings for New YearDefault Codes

Change the Default codes to 40120 before receipting on July 1.

Make sure to look at all your default codes; with a tax rate, with out a tax rate, and for all Tax Types.

Run a Default code report for 2013 and review.

Change Default Settings for New Year

New Allocation Table

Set up the New Tax Rate for 2014 when it’s available.

As a rule, 2013 tables shouldn’t be changed

Beginning the Closing - Preparations

Check Your Supplies

Extra Paper Printer Ribbons / Toner Backup Media - USB / Tape Crying Towel / Kleenex

Just kidding ! It’s not that bad.

The Closing

Closing June

Print all monthly pre-closing reports as usual

Warrant Listings Receipt Listings – Paid and Paid Bank Analysis Extra MTD / YTD Trustee Reports Extra R-D-B Reports Cost Center Reports Any other reports you might normally print at

Month End before closing a month.

The Closing

Closing June

Prior to starting the Month End Option be sure to make your first backup labeling it “Pre-Year End Closing 2013-14”

There are 3 “daily” backups that will be done during the Year End process. All are equally important.

The Closing

Closing June – Everyone else needs to be logged off.

After completing step 4 of Month End Option be sure to make a backup labeling it “Mid-Year End Closing 2013-14” This is Backup #2

The Closing

After June’s closing, and the 2nd backup is completed you should move on to the Year End Closing.

Again, Everyone needs to be logged off during this process!

The Year End does not have to be done immediately after June’s closing, but there’s no reason to keep it open unless you just want to take a break and finish it tomorrow.

The ClosingYear End Closing – complete the final 6 steps !

The Closing

Wait – you’re not done yet !

Now that the Year End steps have been completed we still have that last important step to do.

Backup # 3 needs to be completed. Label it: “Fiscal Year Beginning July 2014”.

NOW you can breathe !! Congratulations !