Sitka Acquisitions Year End Procedure

Note

If you run into difficulties at any point in this process please contact Support for assistance.

  1. Library prepares for year end using the Year End Checklist.
  2. Library confirms that the Library Setting Allow funds to be rolled over without bringing the money along is set to True.
  3. Library implements acquisitions year end freeze.

    An Acquisitions freeze helps ensure that all debits and encumbrances are assigned to the correct fiscal year.
  4. Library runs fund report for old fiscal year.
  5. Library runs a Dry Run to check that all necessary funds will be propagated for the new fiscal year.
  6. Library performs the Fiscal Year Close-out Operation.
  7. Library runs fund report for old and new fiscal year.
  8. Library uses fund reports to confirm that the encumbrances and spent totals for the funds in the old and new fiscal years are correct.

    Libraries that do not carry unspent money forward should see balances of zero in their old fiscal year and negative balances in their new fiscal year.
  9. Library lifts acquisitions year end freeze.
  10. Library creates new funding source(s) and allocates credit to the funding source(s).
  11. Library allocates money from the new funding source(s) into the new funds.
  12. Library begins new fiscal year.

Note

Any line items on selection lists with the status of new, selector-ready, order-ready, or pending-order need to have the fund assigned to them manually updated to the equivalent new fund before the line item is activated as part of a purchase order. See Update Funds to Copies via Batch Updates to Line Items for instructions.

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