Overview
This unscheduled year end job:
- aggregates the actual revenues earned and expenses incurred during the year and calculates the difference,
- posts the resultant deficit or surplus to the institution's net assets, and
- resets the revenue and expense buckets to zero for the new fiscal year.
Revenue and expense entries are summarized by chart, account number, sub-account number, object code, sub-object code, balance type, and object type. The entries that are created:
- Post to the object code defined in parameters NET_EXPENSE_OBJECT_CODE or NET_INCOME_OBJECT_CODE
- Offset posts to fund balance.
- Object type is NB (Nominal Balance)
- Accounting period is BB (Beginning Balance).
Parameters
The following parameters are used by the nominalActivityClosingJob.
- NET_EXPENSE_OBJECT_CODE: Expense nominal balances post to this object code when the nominalActivityClosingJob runs.
- NET_REVENUE_OBJECT_CODE: Revenue nominal balances post to this object code when the nominalActivityClosingJob runs.
Reports and Files
Directory |
Name |
Description |
staging/gl/originEntry |
gl_close_nominal_activity.data |
Year-end entries to close income and expense to fund balance. This file needs to be loaded via the General Ledger Correction Process in order to post. |
reports/gl |
year_end_nominal_activity_ closing_<dateTime>.txt |
Summarizes the entries created by the nominalActivityClosingJob. |
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