Changing the Fund balance unreserved undesignated control account

How do we change the YE close process to allow our expenditures and revenue fund balances to close to the restricted fund balance

• Chart of accounts

• Account Master

• Control Account

• Fund Balance

Fund balance control account needs to be changed on a Fund

There are multiple steps to changing the Fund Balance Unreserved Undesignated control account on a Fund. If the existing control account has amounts on it Journals will be needed to move the funds from the OLD Fund Balance Unreserved Undesignated control account to the NEW Fund Balance Unreserved Undesignated control account 

It is recommended to complete the steps in Training, verify the results and only than move forward in Live after the fund has been verified to be in balance.

1. Remove the Fund Balance Unreserved Undesignated control account designation from the OLD Account

MUNIS > Financials > General Ledger Menu > Set up chart of accounts > Account Master

1. 1. 1. Click Search

      2. Type in the Fund number and in the control account field pick the Fund Balance Unreserved Undesignated control

      3. Click Accept

      4. Click Update

      5. Update the control account designation making the field blank

      6. Click Accept

2. Add the Fund Balance Unreserved Undesignated control account designation to the NEW account

MUNIS > Financials > General Ledger Menu > Set up chart of accounts > Account Master

1. 1. 1. Click Search

      2. Type in the Org, Object, Project or Full Account number

      3. Click Accept

      4. Click Update

      5. Add the Fund Balance Unreserved Undesignated control account designation to the control account field

      6. Click Accept

3. Update the Reference account on the Expenditure and Revenue Control Accounts

MUNIS > Financials > General Ledger Menu > Set up chart of accounts > Account Master

1. 1. 1. Click Search

      2. Type in the Org, Object, Project or Full Account number for the Expense control account

      3. Click Accept

      4. Click Update

      5. Update the Reference account: Add the Org, Object, Project or Full account for the NEW Fund Balance Unreserved Undesignated control account

      6. Click Accept

      7. Repeat for Revenue Control

4. Verify existing information

MUNIS > Financials > General Ledger Menu > Set up chart of accounts > Account Master

1. 1. 1. Click Search

      2. Type in the Org, Object, Project or Full Account number for the NEW Fund Balance Unreserved Undesignated control account

      3. Click Accept

      4. Click Amounts

      5. Click Prior year tab

      6. Note the prior year Actual Total

      7. Follow the same steps for the NEW Fund Balance Unreserved Undesignated control account

5. Make journals as needed

           If there are previous amounts on the OLD Fund Balance Unreserved Undesignated control account they will need to be moved to the NEW account

           If the NEW account has previous journals posted to it, those will need to be zeroed out and moved to the other account

           MUNIS > Financials > General Ledger Menu > General Entry History > General Journal Entry / Proof 

1. 1. 1. Click Add

      2. Journal information section: complete as needed (the journal year should be prior year, period should be period 13)

      3. Journal line section: complete as needed (amount to the OLD account should net prior year to zero and be transfers into the NEW account)

      4. Click Accept

      5. Release, Approve and Post when ready

6. Verify the Fund is in balance, Table validation, Account Trial Balance, Balance sheet, etc.

1. 1. 1. MUNIS > Financials > General Ledger Menu > End of Period > General Ledger Table Validation

      2. Click Comprehensive

      3. Uncheck Rolled Contract Check

      4. Click Accept

      5. Click Run Table Validation

      6. Display or print as desired

7. After everything is completed and verified in Training follow the same steps in Live