Purpose of this Article: This solution article provides the presentation deck, and responses to questions from the Year End Close Workshop FYE22: Accounting Operations Year End Guidance & Deadlines Session 1 and 2 events held on Wednesday, May 18. 

Audience: All SF Financials and SF Procurement Users

Author: Leilani Carandang 

Version/Update Date: 1.0 / 5/19/2022



Accounting Operations FYE Guidance & Deadlines, Part 1

 

Q. Workorder entries only apply to continuing funds - is this correct? Annual funds don't need to do this - is this correct?

A. The KK Budget Adjustment entry is needed only when it is continuing fund. 

 

Q. If expense report is denied by AOSD, is it still available to use in new FY - so HR Supervisor can approve then?

A. Denied expense reports will need to be reentered by the employee in the new fiscal year. Employees can copy a denied expense report to expedite the reenter process.  Please refer to the Expenses: How to Copy a Denied Expense Report job aid.

 

Q. For clarity, did you say that expense reports that are OVER $3,000 require an extra layer of approval (AOSD)?

A. Expense reports greater than or equal to $2,000 will require AOSD approval.

 

Q. Will eSettlement vouchers submitted after 6/17 be deleted?

A. No, but all PO vouchers including eSettlement vouchers not fully approved by 6/24 5PM will be deleted.

 

Q. Does DHR have a deadline to submit FY22 ER funded by union fund when the system is open in FY23?

A. Please stay tuned from DHR, but please submit all expense reports as early as possible. 

 

Q. For eSettlement suppliers, does that mean they can't submit eSettlement invoices after 6/17 and can only resume when system open on 7/5?

A. Correct. 

 

Q. Will the accrual program pick up $0 voucher if the "Year end accrual" box is checked?

A. $0 vouchers are excluded from the system AP accrual, so they will not be picked up by the program even if the "Year end accrual" box is checked.  However, please do not check the box for $0 vouchers.

 

Q. Should we use the same date as in the invoice date instead of 07/04/22?

A. Please input the invoice receipt date as the accounting date instead of 7/4 since now the system will rely on the "Year end accrual" check box for the system accrual. Notice though the voucher accounting date needs to fall between 7/5/22 and 8/11/22 in order for the AP accrual program to pick up the voucher, assume the voucher meets other program criteria. 

 

Q. In AP and GL reports, we used to filter for accruals using the 7/4 accounting date. Since 7/4 is no longer being used, is there an alternative way to quickly identify the accrual related transactions?

A. Please refer to slide #49 and #50 for which BI reports to use to find your YAP and KAP entries. 

 

Q. Will there be a new AP uploader? I just downloaded a copy from the Portal, and it doesn't have a column for year end accrual

A. The new uploader with the Year End Accrual flag is not yet in Production. We are currently working with Systems team. We will send out flash comm when the new uploader is available in Production.  

 

Q. If I process a voucher after 8/11/22 but use accounting date between 7/5 - 8/11, will the voucher be accrued if I check the box?

A, No, it will not.  The AP accrual program only runs between 7/5 and 8/11. 

 

Q. Can you please tell us where do we find these JEs GL / KK entries in Reports Analytics?

A. Please refer to Slide 49 and 50 in the Accounting Operations Guidance & Deadlines Part One deck attached at the bottom of this solution article, to see which BI reports to use to find your YAP and KAP entries. 

 

Q. Where's the best way to find the MYP or other vouchers entries to manually accrue?

A. You can use the BI Accounts Payable dashboard reports, particularly "AP Transaction" report. You can use the filter "AP Origin Name" to filter for vouchers with MPY as origin. 

 

Q. Is there a deadline for combo codes request?

A. The Combo Code deadline is June 28, 2022. Submit your completed and verified requests by then. Combo Code creations will be halted starting on 6/29 and resume on 7/5 9 AM. For specific timing or other combo code questions, please submit a FreshService ticket.

 

Q. What is the appropriate Journal Class for the A/R accrual entry?

A. The proper Journal Class for A/R accrual entries is "YEARACCR".

 

Q. Will the AR Module remain open on 6/30? How about on Friday, 7/1?

A. FY22 AR module will remain open on 6/30 but will not be available between 7/1 and 7/4 as the entire systems is not available. FY22 AR module will be closed on Fri 7/8 5 PM. 

 

Q. Can we do the ap accrual base on estimate since we don't get the June invoice in time?

A. For manual AP accrual entries, you may use estimates if you do not get the actual amount by the Fiscal Month 13 deadline on 8/12.

 

Q. What is the deadline for book to bank reconciliation?

A. Deadline for Book to Bank Recon is also on the 15th of the following month (same as Manual Reconciliation).

 

Q. Is the DUNS the same as the UEI or do we need to re-establish or re-apply?

A.  No. You do not need to re-register or update your active, existing entity registration to be assigned a Unique Entity ID. 

  • If you are registered in SAM.gov now, you’ve already been assigned a Unique Entity ID. It’s viewable on your entity registration record in SAM.gov.
  • If you need to update or renew your registration, you will still need to ensure your renewal or updates occur on time and as required, but this does not affect whether you have been assigned a Unique Entity ID If you have a registration, you already have a Unique Entity ID. 
  • If your registration has expired, go here for instructions on how to renew your entity registration. Go here to learn about the limited entity annual registration renewal extension.
  • If your entity is not registered now, but you decide to register your entity in SAM.gov, you'll be assigned a Unique Entity ID as a part of the registration process.

 

Please refer to the following links for more information:

 

Link to this article on fsd.gov:

https://www.fsd.gov/gsafsd_sp?id=kb_article_view&sysparm_article=KB0045988&sys_kb_id=94dff19f1b4e85d40ca4a97ae54bcb56&spa=1

 

Link to the full list of FAQ and guide for transition from DUNS to UEI on fsd.gov:

https://www.fsd.gov/gsafsd_sp?id=gsafsd_kb_articles&sys_id=7f2f7c7e1bae8d54937fa64ce54bcb56"

 

Q. Are late fees considered penalties for 1098 Reporting?

A. "Amounts are only 1098 reportable when ALL of the following criteria are met: 

  • Paid to the City as result a lawsuit, court order, or settlement agreement
  • Involves violation of a law
  • Aggregate amount per violation of a law equals or exceeds $50,000 on an annual basis"




Accounting Operations FYE Guidance & Deadlines, Part 2

 

Q. Do we capitalize as one big aggregate asset or individual small assets?

A. For group asset, we will capitalize in one asset ID with multiple quantities. System will not allow to capitalize individual asset less than the threshold.

 

Q. For equipment less than $5,000 but in aggregate is more than $5,000, are we supposed to enter them individually in Asset Management Module?

A. We will work with departments to determine the aggregate amount for group assets before implementing in FY 2024. Also, group asset will be capitalized in one asset ID with multiple quantities. System will not allow to capitalize individual asset less than the threshold.

 

Q. What are possible disposal docs?

A. Required documentation can be found in the CON Accounting Policies and Procedures Section 10.13: 

 


Q. Who is working with all the suppliers to get their EFT/ACH account information changed?

A. Controller's Office and Treasurer's Office are working with JP Morgan on the next steps.  Please stay tuned.

 

Q. Does the existing remote deposit machines still work with JPM Access Portal?

A. "The existing remote deposit machines are not compatible with the JPM system. Below is the detail provided during presentation.

  • TTX will be ordering new scanners for departments using remote deposit. BofA scanners procured within the last two years will need to be returned to BofA and the rest will need to be disposed. Instructions will be provided by TTX treasury analyst."

 

Q. ACFR vs. CAFR?

A. Per GASB 98, the acronym and terminology for the annual comprehensive financial report has been updated. For more information, please refer to the Summary - Statement No. 98 page of the GASB site.




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