Use the MN UFARS Report - Closing/Summary Accounts page to configure the year-end closing account and summary account assignments for UFARS reporting. This setup determines how revenues and expenditures are summarized and closed at fiscal year-end.
During the UFARS Load process, the system uses these configurations to:
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Assign the appropriate Closing Account to each financial record.
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Determine which Summary Account to use for revenue and expenditure consolidation.
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Calculate closing entries for fiscal year-end reporting.
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On the MN UFARS Report page, select UFARS Accounts, and then UFARS Closing/Summary.
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Filter records using the filter criteria. To enter filter criteria:
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Select an option in the first field.
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Select or enter a value.
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Select Add if the button is enabled.
Refer to Search for records for more information.-
To add a record, click Add Record. Refer to the Field descriptions and enter valid information in the required fields. Select Save, then Yes.
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To edit a record, select the ellipsis in the Actions column and then select Edit. Update the information and select Save.
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To delete a record, select the ellipsis in the Actions column, select Delete, and then select Yes.
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To download the information, click Download, and then select Download PDF or Download as an Excel Document.
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Field descriptions
The following table describes the fields on the Information form accessed from the MN UFARS Report - Closing/Summary Accounts page.
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Field |
Description |
|---|---|
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Year |
The fiscal year to which this closing/summary account configuration applies. |
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Fund |
The UFARS Fund code this configuration applies to. This must match the translated UFARS Fund value assigned to financial records during the Load process. |
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Finance |
The UFARS Finance dimension code to which this configuration applies. Enter a specific finance code, or enter an asterisk (*) as a wildcard to apply this configuration to all finance codes within the specified fund. |
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Closing Account |
The account code to which revenue and expenditure balances are transferred during the fiscal year-end closing. This code is assigned to financial records during the Load process and used to generate closing entries. |
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Expense Summary Account |
The summary account code used to consolidate expenditure totals for year-end closing. This account aggregates expenditure activity for the specified Fund/Finance combination. Typically derived from the Expenditure Control account in the Fund Accounting profile. |
|
Revenue Summary Account |
The summary account code used to consolidate revenue totals for year-end closing. This account aggregates revenue activity for the specified Fund/Finance combination. Typically derived from the Revenue Control account in the Fund Accounting profile. |
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Description |
An optional free-text description to identify or document the purpose of this closing/summary account configuration. Useful for distinguishing between multiple configurations for different fund/finance combinations. |