General Ledger Month End

General Ledger  Month End Close.

Permission #374 is required to access this GL Control to Close Month.

1. Navigate to Accounting > GL Control
   
   
2. The month end close (period and month are used interchangeably in this document ) is a process in which the four subsidiary ledgers and general journal entries are closed to the general journal,to enable printing of financial statements such as budgetary reports and balance sheets.

    

   To Close the Period, click on Close Month.  This process moves the last post date forward, thus preventing any further entries in the subsidiary ledgers for that period.  Journal Entries are contained in the table GLWORK and all other transactions are in GLCONS02.  

   Book Definitions

    

   The preliminary trial balance shows a book number for all transactions.  The system book numbers are automatically created in GLCONS02 are not available for entry  by the end user. The journal entry program will produce an error if an attempt is made to enter one of the system books for a general journal entry.

   The user may enter any other two character book for the appropriate journal entry (e.g. PR = Payroll, AE – Adjusting entry, JE = Journal Entry)

    

   The system books are as follows:

    

   Sales/Revenue:

   CH    Revenue to various G/L for month/period per Transaction Code (BILCOD) file

   IN      Offset to student A/R per GL Funds (GLCOMP) Receivables account designation.

    

   Cash Receipts:

   MI    Debit for Miscellaneous Cash Receipt (not student AR)

   OA    Offsets to cash that are not for student A/R

   CR     Debit to Cash for Student Cash Receipt

   PM    Credit to AR for Student Cash Receipt    

    

   Cash Disbursements:

   CD    Cash disbursements for payables

   AP    Debit to A/P for payment of payables

   
    

   Expenses:

   EX     Expenses to various G/L and credits for voids

   AP    Credit to A/P for Expense

   AX    Debit to A/P for a Check Void

   
    
    
   The following 4 reports can be run to display the details of the summary entries on the Preliminary Trial Balance. The Preliminary Trial Balance is the primary tool for looking at monthly activity and is available sorted by G/L, Cost Center, and Fund.
    
   Module
    
   Student Financials            Cash Receipts                   A/R Transactions by cash cost center and GL acct
   Student Financials            Sales-Revenues                 BIITEM listing by cost center and GL acct
   A/P                                   Expenses                           Expense listing by cost center and GL acct
   A/P                                   Cash Disbursements         Check listing using date range
    
   These reports may be run at any time and for any period by using the appropriate date ranges, regardless of whether a period is open or closed.
    
    
   General journals may be entered for the current period or any future period by using the appropriate batch date upon posting the batch.  A date cannot be used that is less than the last GL posting date.  As with all batch processes within Campus Café, each user has their own batch based on their user ID.
    
   Journal entries or recurring entries may be posted to get desired adjustments at any time prior to the final close (CLOSE MONTH) button on the GL Control.
    
   After all journal entries are made and the preliminary trial balance is checked for accuracy, the CLOSE MONTH button is clicked to close the period.   The budgetary reports and balance sheet may then be run for the period.  Once the month is closed, the month may be reopened by simply clicking the REOPEN PRIOR PERIOD button.  This will restore all prior month activity and allow general journal entries to be made for further account adjustment.  Entries to the subsidiary ledgers (Sales, Cash Receipts, Cash Disbursements, Expenses) for the prior period are also allowed.
    
   
    
   Reopen Prior Period
   This button will be unavailable after all subsidiary ledgers have been posted for the month and prior to the month close.  Once the month is closed, this button will be available and the month may be reopened by simply clicking the REOPEN PRIOR PERIOD button.  This will restore all prior month activity and allow general journal entries to be made for further account adjustment.
    
   You may also undo the SALES,CASH RECEIPTS,CASH DISBURSEMENTS, and EXPENSES.  This will then allow entries to the subsidiary ledgers for the prior period.
    
   Book Definitions
    
   The preliminary trial balance shows a book number for all transactions.  The system books are automatically created during the closing of the subsidiary ledgers and are not available for entry or user by the end user. The journal entry program will produce an error if an attempt is made to enter one of the system books for a general journal entry.
   The user may enter any other two character book for the appropriate journal entry (e.g. PR = Payroll, AE – Adjusting entry, JE = Journal Entry)
    
   The system books are as follows:
    
   Sales/Revenue:
   CH    Revenue to various G/L for month/period per Transaction Code (BILCOD) file
   IN      Offset to student A/R per GL Funds (GLCOMP) Receivables account designation.
    
   Cash Receipts:
   MI Debit for Miscellaneous Cash Receipt (not student AR)
   OA Offsets to cash that are not for student A/R
   CR Debit to Cash for Student Cash Receipt
   PM Credit to AR for Student Cash Receipt
    
   Cash Disbursements:
   CD    Cash disbursed for payables
   AP    Debit to A/P for payment of payables
    
   Expenses:
   EX     Expenses to various G/L and credits for voids
   AP    Credit to A/P for Expense
   AX    Debit to A/P for a Check Void
   
    
    
   Back
   Click on Back to return to the General Ledger Module Main Screen.
    
   Fiscal Year (GLCONT/CURRENT_FISCAL_YEAR)
   This field displays the current year from the General Ledger Control Table.
    
   Period (GLCONT/FISCAL_YEAR_BEGIN_PERIOD)
   This field displays the current period from the General Ledger Control Table.
    
   Last Post Date (GLCONT/LAST_GL_POSTING_DATE)
   This field displays the last posting date from the General Ledger Control Table.  Closing the subsidiary ledgers updates the last post date with that of the last day in the current period, thus preventing any further entries in the subsidiary ledgers for that period.
    
   Current FY: The numerical portion of the current fiscal year. (The most recent fiscal year not closed in the accounting module.) Do not adjust if using the Campus Cafe general ledger system, which automatically controls this.
   Prior Year Flag: For institutions that use the accounting module a "R" indicates the prior fiscal year has reopened; A "C" indicates the prior fiscal year is closed and transactions may not be posted. System sets field automatically, do not adjust.
   Last Post Date: Batches will not be able to posted prior to this date. Do not adjust if using the accounting system, which will adjust automatically to the last close date.
   Current Period: The current period within the fiscal year. Increments automatically when prior month is closed. Period 13 indicates when the last month is closed but the year is not closed. Do not adjust field if using the accounting module