Journals were not created during year end close

Owned by Knowledge Assistant
Last updated: Jun 24, 2024
1 min read
Description of Issue
  • During the year end close process, a journal did not generate to book the open encumbrances against the reserve for encumbrances. 
  • Reclassify journals are not being made during year end close
Context
  • Year End Close
  • Encumbrances
  • Reclassify 
  • Missing journals
Cause

Financials > General Ledger Menu >  Set Up/Chart of Accounts > General Ledger Settings: Create Carryforward BUA at end of year is not checked

Resolution

Automated reclassification journals will only be made when a sites carryforward method is set to 1 or 3, if 3 the Create carry forward BUA at end of year option is checked when the Close and open year processes are run.

If the criteria above wasn't met during the close, reclassification journals would not have been created automatically. In that instance, if reclassification journals are needed, they will need to be keyed manually.

Additional Information

Create Carry Forward BUA at End of Year

Directs the program to create carry forward budget amendment (BUA) journals at the end of the year, when selected. The value of the Budget Carry Forward Method list controls access to this check box:

  • If the value of the list is 1 - GAAP or 4 - Transfer, this box is automatically selected and you cannot update it.
  • If the value of the list is 2 - Budgetary, this box is cleared and you cannot update it.
  • If the value of the list is 3 - GAAP/Budgetary Combined, the box is selected if a carry forward BUA for encumbrances exists for the current year, but the box is accessible for updating.