UFARS Closing or Summary

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:

Assign the appropriate Closing Account to each financial record.
Determine which Summary Account to use for revenue and expenditure consolidation.
Calculate closing entries for fiscal year-end reporting.

On the MN UFARS Report page, select UFARS Accounts, and then UFARS Closing/Summary.
Filter records using the filter criteria. To enter filter criteria:
1. Select an option in the first field.
2. Select or enter a value.
3. 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.
  - To edit a record, select the ellipsis in the Actions column and then select Edit. Update the information and select Save.
  - To delete a record, select the ellipsis in the Actions column, select Delete, and then select Yes.
  - To download the information, click Download, and then select Download PDF or Download as an Excel Document.

Field descriptions

The following table describes the fields on the Information form accessed from the MN UFARS Report - Closing/Summary Accounts page.

Field	Description
Year	The fiscal year to which this closing/summary account configuration applies.
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.
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.
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.
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.
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.