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#419 Audit Preparation Tools
Function
This supplement produces reports, documentation and workpapers to provide to your auditor to assist in the preparation of your organization’s year end audit. It is designed to be run after all year end entries have been posted and final fiscal year financial reports have been prepared.
You must be in the fiscal year you intend to close when running this supplement.
The supplement has four main sections: Trial Balance, Comparison Reports, Workpapers and Reports.
Note for items (d) and (e): When generating the Leave Rate Computation and Analysis and Leave Rate Computation and Analysis Total reports through Monthly Processing, two pdf files will be created. They are LeaveRateCompAnalysis12312016- 111.pdf and LeaveRateCompAnalysisTotal12312016-111.pdf respectively. (The numbers indicate the period for which the reports were created followed by your client number.)
These files will be stored in your Program Files\GMS folder. Note: if using a 64 bit system the folder will be named Program Files(x86)\GMS
When items (d) and (e) are selected in this supplement the software will locate these files and display. Note: the pdf files will always contain information from the last time you generated the reports in Monthly Processing during the final month of your fiscal year.
You must have a pdf file reader on your computer such as Adobe in order to read these files.
Things You Should Know
Instructions for Category Setup
Please Note: If you use other supplements that use either balance sheet or cost categories, those formats will be available to use in this supplement.
Setup Balance Sheet Categories:
Edit - Click on edit to begin entering category codes and descriptions and also to make changes.
Code - Assign a numeric value to the category code you are creating. All asset categories are to be between 100-199. All liability categories are to be between 200-299 and all equity categories are to be between 300-399.
Description - Enter the description of the category you are creating. Examples are “Cash in Bank” and “Payroll Withholding Accounts”.
Save Edit – This will permanently record the current Category.
Print – This will display the current categories with the option to print or export.
Delete - Click on the delete button to delete the category displayed.
Assign Line Items:
When this option is selected, a form will appear for you to use in assigning balance sheet GL codes to the existing categories. You have the option of creating numerous formats. This gives you the ability to define which transaction codes are assigned to a specific category using multiple combinations, depending on different reporting needs. You may need one format for your auditor and desire a different format to generate the comparison report for your Board of Directors.
When the Assign Line Item option is selected, the following items appear:
Format # – Click on Edit and assign a number to the Format you are creating. If a format number exists, once you enter the format number it lists all the codes you assigned previously in the grid.
Description - Assign a description for this format, i.e. Board format.
GL Code –Select the balance sheet GL code you are assigning to a category.
Balance Sheet Category. – Select the existing Category to which you wish to assign the GL code. As stated in the Code section above under Setup Categories, all asset codes will be restricted to existing categories between 100 and 199, all liability codes will be restricted to existing categories between 200 and 299 and all equity accounts will be assigned to existing categories between 300-399. If you forget to set up a balance sheet GL code that has a balance, the amount will print next to category 0, Not assigned on the Comparison Report.
Save Edit – When all GL code assignments are complete for this format, select save edit to permanently record this information.
Delete - To delete all of the assignments in the format displayed, click on the delete button.
Print - To print the Balance Sheet Assignments, click on Print. You have the option to print them in GL code or Category order.
Setup Cost Categories:
Edit - Click on edit to begin entering category codes and descriptions and also to make changes.
Code – Assign a numeric value to the Category you are creating. All revenue categories need to be between 1000 and 1999. Category 1999 is the default for Other Revenues. All expenditure codes need to be between 2000 and 9999. Category 9999 is the default for Other Expenses.
Description – Enter the description of the Category you are creating. An example of these would be Personnel Costs, Supplies, etc.
Save Edit – This will permanently record the current Category.
Delete - Click on the line you wish to delete, then use your Delete key or Backspace key to delete the item.
Print – This will display the current categories with the option to print or export.
Assign Line Items:
When this option is selected, a form will appear for you to use in assigning Revenue and Expenditure codes to the existing categories. You have the option of creating numerous formats. This gives you the ability to define which transaction codes are assigned to a specific category using multiple combinations, depending on different reporting needs. You may need one format for your auditor and desire a different format to generate the comparison report for your Board of Directors.
When the Assign Line Item option is selected, the following items appear:
Format # – Click Edit and assign a number to the Format you are creating. If a format number exists, once you enter the format number, it lists all the codes you assigned previously in the grid. You may use your delete key or backspace key to delete a line or change the category.
GL Code – Select the Revenue or Expenditure code you are assigning to a Category.
Cost Category Code – Select the existing Cost Category to which you wish to assign the transaction code. As stated in the code section above under Set up Categories, all Revenue codes will be restricted to existing categories between 1000 and 1999, and all Expenditure codes will be restricted to existing Categories between 2000 and 2999. If you have transaction codes with YTD activity that are not assigned to a category, when the report is generated all unassigned Revenue Codes will appear under category 1999 – Other Revenues, and all unassigned Expenditure codes will appear under category 9999 – Other Expenses.
Save Edit– When all transaction code assignments are complete for this format, select save to permanently record this information.
Delete - To delete all of the assignments in the format displayed, click on the delete button.
Print - To print the Cost Category Assignments, click on Print. You have the option to print them in GL code or Cost Category order.
Operating Instructions
Trial Balance
Invested in Fixed Assets GL Code – select the GL codes(s) that represent your Invested in Fixed Asset accounts and all equity accounts such as Unrestricted Net Assets, Temporarily Restricted Net Assets, etc.
Fund Balance/Net Asset Account with PY Adjustment – identify the Journal Entry document # and the project number affected for all entries that are made directly to a project equity account. These typically include entries for a Prior Year adjustment made in the current year.
To identify these entries, click on Edit then check the appropriate GJ document number in GJ# field. This will display all appropriate lines of distribution within that GJ entry in the list box. Select the lines you wish to include and click on add to send them to the box on the right. Repeat this process with all general journal entries necessary. Once complete click on Save.
Note: if you are uncertain whether or not you have any prior year entries you can go to the Transaction Code Listing report in Monthly Processing\GL Listings, select the entire fiscal year, and select all project numbers. This will provide you with all entries necessary to identify on this form of the supplement, except for those selected under Invested in FA GL Code.
Report by – select whether you want the report generated at the agencywide, project or element level.
Include Fringe and Indirect Details – check this box to have the Fringe and Indirect costs reported with line item detail.
Print – this will launch Excel and populate the spreadsheet with the Trial Balance report.
Comparison Reports
Balance Sheet – select the desired format in the combo box and click on print to generate the report. You may print with category detail if desired.
Agencywide Revenue and Expense – select the desired format in the combo box and click on print to generate the report. You may print with category detail if desired.
Workpapers
Things you should know
General Ledger
GJ’S
All GJ’s - select this option to generate a report that includes all GJ entries for a specified period. The report includes the document date, GJ batch number, GJ document number, GJ type designation, Description of the entry, all coding information, debit and credit amounts and the posting period.
ACH Debit Entries - click on print to generate a report for all ACH Debit entries for a specified period. The report includes the document date, Vendor Code, Vendor Name, GJ Batch #, GJ document #, entry description and the amount. This will only include those GJ’s that you put a checkmark next to ACH debit.
Non-ACH Debit Entries - click on print to generate a report for all Non-ACH Debit entries for a specified period. The report includes the document date, GJ Batch #, GJ document #, the GJ type designation, entry description, all coding information, debit and credit amounts and the posting period. This will only include those GJ’s that have not been marked as an ACH debit entry.
Leave History & Accrual Worksheet - this report includes detail at the individual employee level for accrued leave balance at year end. When print is selected you will need to select the pay period ending date for the last payroll expensed in the fiscal year, the leave code to be included in the report, and the GL liability account number for the Accrued Leave balance.
In addition to the employee’s Last Name, First Name and Hire Date the report includes the following:
Beg Hrs – the employees beginning leave balance (in hours) at the beginning of the fiscal year.
Hrs Earned – total hours earned during the fiscal year for the specified leave type.
Hrs Taken – total hours taken during the fiscal year for the specified leave type.
End Hrs – the ending leave balance (in hours) at the end of the fiscal year. Note: this balance should agree with the final Leave Rate Computation and Analysis prepared at year end.
Annualized Hourly Rate – this represents the actual or annualized hourly salary rate for the employee at year end.
Calculated Leave Accrual – this figure is the result of the End Hrs figure multiplied by the Annualized Hourly Rate and represents the value of the accrued leave for the individual employee.
Note: Should you have a maximum amount of hours set up in Tools\Cost Allocation Set Up\Leave Allocation for a particular leave type, the maximum amount will be reflected on the report.
Calculated Ending Hours – this is a result of Beg Hrs plus Hrs Earned less Hrs Taken. If the amounts differ from the last Leave Balance report for the fiscal year the amounts will appear in red.
*=Exceed Max and **=LP Used - if you have employees that used LP (Leave without pay) or the Max Leave Amount feature was turned on in Setup Leave Assumptions (which caused an employee’s leave balance to decrease), this information will be detailed for reference only in this column.
Indirect Cost Base Reconciliation - select this option to generate a reconciling report for your Indirect Cost base. This will identify the base and any exclusions as defined in the cost allocation setup forms under Tools, and reconcile these amounts to the base as it appears on the final Indirect Cost Rate Computation and Analysis.
Note: Should your agency have supplement #403 Dual Indirect Cost Pool installed, this report will provide reconciling pages for both the Common and M&G pools.
Accounts Payable
Subsequent Payments – this option accesses the Payment History routine that is located in the AP Supplements section of the software. It prepares a history of all Accounts Payable checks issued and ACH debits recorded via General Journal to all Vendors. It may be prepared for all or selected Vendors.
Highest Paid Vendors – this will provide a report including vendor code, vendor name and total amount paid for the current fiscal year. It includes all vendors that received payment during the year and when generated it is sorted by total payment amount, largest to smallest. This makes it easy to view your highest paid vendors.
Payroll
Payroll Reconciliation - this provides a reconciliation of your fiscal year to date salaries and payroll taxes incorporating all appropriate journal entries, and the figures as they appear on the trial balance. When this item is selected you will need to identify: 1) the GL liability account for Accrued Salaries, 2) the GL liability account(s) for Accrued Leave,
3) the GL liability account for accrued SS/Medicare and 4) the GL expenditure code for the SS/Medicare expense.
Click on print to generate the report. The report includes the following information:
Salary Reconciliation
Salaries per YTD Payroll Register – this is the Total Pay amount from the YTD Payroll Register. Should your fiscal year be anything other than the calendar year the system will use the appropriate amounts from the previous and current calendar year to represent the fiscal YTD amount.
Less Accrued Salaries PY – this represents the opening GL balance for this account.
Plus Accrued Salaries CY – this represents the fiscal year ending GL balance of this account.
Less Accrued Leave PY – this represents the opening GL balance for this account.
Plus Accrued Leave CY - this represents the fiscal year ending GL balance of this account.
Accrual basis salaries – the sum (and difference) of the above information.
Salaries per Trial Balance – as it appears on the General Ledger 50000 account prior to the final closing entry.
Variance – this represents any difference between the Accrual basis salaries and the Salaries per Trial Balance. An example of a reason for a variance would be special pay that is coded to a GL account other than 50000. An example of a variance is special pay such as life insurance over 50,000 or third party sick pay that is coded to a GL account other than 50000.
SS & Medicare
Employer's share of SS Tax - this is the Total SS taxes withheld amount from the YTD Payroll Register. Should your fiscal year be anything other than the calendar year, the system will use the appropriate amounts from the previous and current calendar year to represent the fiscal YTD amount.
Employer's Share of Medicare Tax - this is the Total Medicare taxes withheld amount from the YTD Payroll Register. Should your fiscal year be anything other than the calendar year, the system will use the appropriate amounts from the previous and current calendar year to represent the fiscal YTD amount.
Less: PY SS & Medicare tax accrual – this represents the opening GL balance for this account(s)
Plus: CY SS & Medicare tax accrual – this represents the fiscal year ending GL balance for this account(s)
Total SS & Medicare Taxes – the sum (and difference) of the above information.
Per Trial Balance – as it appears on the General Ledger prior to the final closing entry.
Variance – this represents any difference between the Total SS & Medicare Taxes and the amount per Trial Balance. Note: If your organization uses the same liability code for accrued Social Security and Medicare as other payroll taxes you may have to adjust the Payroll Taxes section of this report manually or set up a new liability code for SS and Medicare.
Accrued Payroll – You have two options to provide detail behind your accrued payroll amount. The option you chose will be based upon whether an entire payroll has been accrued or just a specific Timesheet batch(es) within a payroll. Please select either By Payroll Register or By Timesheet Batch.
By Payroll Register – check this box to select a specific payroll register by check date.
By Timesheet Batch – check this box to select a specific timesheet batch.
Fixed Assets
Note: You must have supplement #357 Fixed Asset to generate these reports.
Fixed Asset Analysis - Select the Fixed Asset GL code and corresponding Accumulated Depreciation Code to be included in the report, then click print. If a Fixed Asset account is for items that are not depreciated, i.e., grant purchased fixed assets, leave the Accumulated Depreciation code field blank.
GL Reconciliation- 1st Worksheet Tab
1. Fixed Asset:
Opening Balance: This amount is taken from the Prior Year amount in the GL.
Purchases: Includes total purchase amounts of all fixed assets with a purchase date within the fiscal year that is entered under Asset Entry.
Disposals: Includes total purchase amounts of all fixed assets with a disposal date within your fiscal year that is entered under Asset Entry.
Ending Balance: This amount should equal the Balance Forward in the GL for the specified account.
2. Accumulated depreciation:
Opening Balance: This amount is taken from the Prior Year amount in the GL.
Plus YTD Depreciation of Active Fixed Assets: Includes total YTD depreciation during the fiscal year for all assets that have an “A” status in the fixed asset supplement at year end.
Plus YTD Depreciation of Disposed Fixed Assets: Includes total YTD depreciation during the fiscal year for all assets that have a “D” status in the fixed asset supplement at year end.
Less Total to Date Depreciation of Disposed Items: Includes total to date depreciation expense for all items that have a disposition date in the fixed asset supplement within the fiscal year.
Ending Balance: This amount should equal the balance forward in the GL for the specific account.
Fixed Asset Purchases - 2nd Worksheet Tab
This will supply the Fixed Asset Listing and Depreciation Schedule for all assets purchases for the current fiscal year.
Fixed Asset Listing and Depreciation Schedule - 3rd Worksheet Tab
This will supply the Fixed Asset Listing and Depreciation Schedule for all assets with a disposal date within the current fiscal year.
YTD Depreciation - 4th Worksheet Tab
This will supply a Fixed Assets and Depreciation for all active Assets at the end of the fiscal year.
Fixed asset Roll Forward Summary – This provides a summary report for the fiscal year you are closing for asset purchases and accumulated depreciation.
Cost – identifies the beginning balance (for the fiscal year you are closing) for each asset, any purchases, dispositions and the ending balance that will be rolled forward to the next fiscal year.
Accum Depreciation – identifies the beginning balance (for the fiscal year you are closing) for the accumulated depreciation for each asset, the current year depreciation expense, removal of accumulated depreciation due to asset disposition and the balance that will be rolled forward to the next fiscal year.
Note: If you have multiple fixed asset accounts but only one accumulated depreciation account, you will need to edit the Excel spreadsheet from this supplement to record the correct accumulated depreciation for each asset. If you want the supplement to automatically prepare the report with each fixed asset’s correct accumulated depreciation you must have a separate accumulated depreciation account for each asset and have coded your depreciation entries accordingly throughout the year.
This supplement produces reports, documentation and workpapers to provide to your auditor to assist in the preparation of your organization’s year end audit. It is designed to be run after all year end entries have been posted and final fiscal year financial reports have been prepared.
You must be in the fiscal year you intend to close when running this supplement.
The supplement has four main sections: Trial Balance, Comparison Reports, Workpapers and Reports.
- Trial Balance – the Trial Balance is generated as an Excel file and can be prepared at the Agencywide, Project or Element level. Columns included on this report are Element, Project, GL Code, GL Code Description and Amount. The GL codes include all assets, liabilities, net asset accounts, revenues and expenditures.
- Comparison Reports – you can prepare a Balance Sheet or Agencywide Revenue and Expense report showing a comparative between the current and prior fiscal years. This report can be generated with line item detail or cost categories detail. Note: if using cost categories, any existing formats that have been created for other reports will automatically be available or you can create new categories and formats.
- Workpapers – there are twelve workpapers available that are typically used by auditors. They are: (a) All GJ’s, (b) ACH Debit Entries, (c) Non-ACH Debit Entries, (d) Leave History and Accrual Worksheet (e)Indirect Cost Base Reconciliation, (f) AP Subsequent Payments, (g) Highest Paid Vendors, (h) Payroll Reconciliation, (i) Accrued Payroll By Payroll Register, (j) Accrued Payroll By Timesheet Batch, (k) Fixed Asset Analysis and (l) Fixed Asset Roll Forward Summary.
- Reports – There are ten reports that are available in other parts of the GMS software. We have grouped them in this section for ease of preparation and exporting to provide to your auditor. They are: (a) Bank Reconciliation, (b) Complete Check Listing, (c) YTD Transaction Code Listing for Revenues, (d) Leave Rate Computation and Analysis, (e) Leave Rate Computation and Analysis Totals, (f)AP Analysis, (g) Prepaid Expenses, (h) Payroll Register for Accrued Payroll, (i) Leave History and (j) AR Analysis.
Note for items (d) and (e): When generating the Leave Rate Computation and Analysis and Leave Rate Computation and Analysis Total reports through Monthly Processing, two pdf files will be created. They are LeaveRateCompAnalysis12312016- 111.pdf and LeaveRateCompAnalysisTotal12312016-111.pdf respectively. (The numbers indicate the period for which the reports were created followed by your client number.)
These files will be stored in your Program Files\GMS folder. Note: if using a 64 bit system the folder will be named Program Files(x86)\GMS
When items (d) and (e) are selected in this supplement the software will locate these files and display. Note: the pdf files will always contain information from the last time you generated the reports in Monthly Processing during the final month of your fiscal year.
You must have a pdf file reader on your computer such as Adobe in order to read these files.
Things You Should Know
- Make sure you have completed all year end activities before proceeding with this supplement. All clean up entries are to be completed, all pools have been closed and Revenue Recognitions recorded.
- Display all cost allocation reports or click Post All Allocations, then display all four financial reports or click on the Post All Financials button.
- For the comparison reports your database must include your organization’s previous fiscal year information for this feature to work.
Instructions for Category Setup
Please Note: If you use other supplements that use either balance sheet or cost categories, those formats will be available to use in this supplement.
Setup Balance Sheet Categories:
Edit - Click on edit to begin entering category codes and descriptions and also to make changes.
Code - Assign a numeric value to the category code you are creating. All asset categories are to be between 100-199. All liability categories are to be between 200-299 and all equity categories are to be between 300-399.
Description - Enter the description of the category you are creating. Examples are “Cash in Bank” and “Payroll Withholding Accounts”.
Save Edit – This will permanently record the current Category.
Print – This will display the current categories with the option to print or export.
Delete - Click on the delete button to delete the category displayed.
Assign Line Items:
When this option is selected, a form will appear for you to use in assigning balance sheet GL codes to the existing categories. You have the option of creating numerous formats. This gives you the ability to define which transaction codes are assigned to a specific category using multiple combinations, depending on different reporting needs. You may need one format for your auditor and desire a different format to generate the comparison report for your Board of Directors.
When the Assign Line Item option is selected, the following items appear:
Format # – Click on Edit and assign a number to the Format you are creating. If a format number exists, once you enter the format number it lists all the codes you assigned previously in the grid.
Description - Assign a description for this format, i.e. Board format.
GL Code –Select the balance sheet GL code you are assigning to a category.
Balance Sheet Category. – Select the existing Category to which you wish to assign the GL code. As stated in the Code section above under Setup Categories, all asset codes will be restricted to existing categories between 100 and 199, all liability codes will be restricted to existing categories between 200 and 299 and all equity accounts will be assigned to existing categories between 300-399. If you forget to set up a balance sheet GL code that has a balance, the amount will print next to category 0, Not assigned on the Comparison Report.
Save Edit – When all GL code assignments are complete for this format, select save edit to permanently record this information.
Delete - To delete all of the assignments in the format displayed, click on the delete button.
Print - To print the Balance Sheet Assignments, click on Print. You have the option to print them in GL code or Category order.
Setup Cost Categories:
Edit - Click on edit to begin entering category codes and descriptions and also to make changes.
Code – Assign a numeric value to the Category you are creating. All revenue categories need to be between 1000 and 1999. Category 1999 is the default for Other Revenues. All expenditure codes need to be between 2000 and 9999. Category 9999 is the default for Other Expenses.
Description – Enter the description of the Category you are creating. An example of these would be Personnel Costs, Supplies, etc.
Save Edit – This will permanently record the current Category.
Delete - Click on the line you wish to delete, then use your Delete key or Backspace key to delete the item.
Print – This will display the current categories with the option to print or export.
Assign Line Items:
When this option is selected, a form will appear for you to use in assigning Revenue and Expenditure codes to the existing categories. You have the option of creating numerous formats. This gives you the ability to define which transaction codes are assigned to a specific category using multiple combinations, depending on different reporting needs. You may need one format for your auditor and desire a different format to generate the comparison report for your Board of Directors.
When the Assign Line Item option is selected, the following items appear:
Format # – Click Edit and assign a number to the Format you are creating. If a format number exists, once you enter the format number, it lists all the codes you assigned previously in the grid. You may use your delete key or backspace key to delete a line or change the category.
GL Code – Select the Revenue or Expenditure code you are assigning to a Category.
Cost Category Code – Select the existing Cost Category to which you wish to assign the transaction code. As stated in the code section above under Set up Categories, all Revenue codes will be restricted to existing categories between 1000 and 1999, and all Expenditure codes will be restricted to existing Categories between 2000 and 2999. If you have transaction codes with YTD activity that are not assigned to a category, when the report is generated all unassigned Revenue Codes will appear under category 1999 – Other Revenues, and all unassigned Expenditure codes will appear under category 9999 – Other Expenses.
Save Edit– When all transaction code assignments are complete for this format, select save to permanently record this information.
Delete - To delete all of the assignments in the format displayed, click on the delete button.
Print - To print the Cost Category Assignments, click on Print. You have the option to print them in GL code or Cost Category order.
Operating Instructions
Trial Balance
Invested in Fixed Assets GL Code – select the GL codes(s) that represent your Invested in Fixed Asset accounts and all equity accounts such as Unrestricted Net Assets, Temporarily Restricted Net Assets, etc.
Fund Balance/Net Asset Account with PY Adjustment – identify the Journal Entry document # and the project number affected for all entries that are made directly to a project equity account. These typically include entries for a Prior Year adjustment made in the current year.
To identify these entries, click on Edit then check the appropriate GJ document number in GJ# field. This will display all appropriate lines of distribution within that GJ entry in the list box. Select the lines you wish to include and click on add to send them to the box on the right. Repeat this process with all general journal entries necessary. Once complete click on Save.
Note: if you are uncertain whether or not you have any prior year entries you can go to the Transaction Code Listing report in Monthly Processing\GL Listings, select the entire fiscal year, and select all project numbers. This will provide you with all entries necessary to identify on this form of the supplement, except for those selected under Invested in FA GL Code.
Report by – select whether you want the report generated at the agencywide, project or element level.
Include Fringe and Indirect Details – check this box to have the Fringe and Indirect costs reported with line item detail.
Print – this will launch Excel and populate the spreadsheet with the Trial Balance report.
Comparison Reports
Balance Sheet – select the desired format in the combo box and click on print to generate the report. You may print with category detail if desired.
Agencywide Revenue and Expense – select the desired format in the combo box and click on print to generate the report. You may print with category detail if desired.
Workpapers
Things you should know
- When any of the reports are generated in this section, Excel is automatically launched and the spreadsheet is populated with the desired reports. This will give you the ability to add any comments or necessary information before saving and forwarding to your auditor.
- The Fixed Asset Analysis will only be prepared correctly if you use Supplement #357 Fixed Asset Inventory.
General Ledger
GJ’S
All GJ’s - select this option to generate a report that includes all GJ entries for a specified period. The report includes the document date, GJ batch number, GJ document number, GJ type designation, Description of the entry, all coding information, debit and credit amounts and the posting period.
ACH Debit Entries - click on print to generate a report for all ACH Debit entries for a specified period. The report includes the document date, Vendor Code, Vendor Name, GJ Batch #, GJ document #, entry description and the amount. This will only include those GJ’s that you put a checkmark next to ACH debit.
Non-ACH Debit Entries - click on print to generate a report for all Non-ACH Debit entries for a specified period. The report includes the document date, GJ Batch #, GJ document #, the GJ type designation, entry description, all coding information, debit and credit amounts and the posting period. This will only include those GJ’s that have not been marked as an ACH debit entry.
Leave History & Accrual Worksheet - this report includes detail at the individual employee level for accrued leave balance at year end. When print is selected you will need to select the pay period ending date for the last payroll expensed in the fiscal year, the leave code to be included in the report, and the GL liability account number for the Accrued Leave balance.
In addition to the employee’s Last Name, First Name and Hire Date the report includes the following:
Beg Hrs – the employees beginning leave balance (in hours) at the beginning of the fiscal year.
Hrs Earned – total hours earned during the fiscal year for the specified leave type.
Hrs Taken – total hours taken during the fiscal year for the specified leave type.
End Hrs – the ending leave balance (in hours) at the end of the fiscal year. Note: this balance should agree with the final Leave Rate Computation and Analysis prepared at year end.
Annualized Hourly Rate – this represents the actual or annualized hourly salary rate for the employee at year end.
Calculated Leave Accrual – this figure is the result of the End Hrs figure multiplied by the Annualized Hourly Rate and represents the value of the accrued leave for the individual employee.
Note: Should you have a maximum amount of hours set up in Tools\Cost Allocation Set Up\Leave Allocation for a particular leave type, the maximum amount will be reflected on the report.
Calculated Ending Hours – this is a result of Beg Hrs plus Hrs Earned less Hrs Taken. If the amounts differ from the last Leave Balance report for the fiscal year the amounts will appear in red.
*=Exceed Max and **=LP Used - if you have employees that used LP (Leave without pay) or the Max Leave Amount feature was turned on in Setup Leave Assumptions (which caused an employee’s leave balance to decrease), this information will be detailed for reference only in this column.
Indirect Cost Base Reconciliation - select this option to generate a reconciling report for your Indirect Cost base. This will identify the base and any exclusions as defined in the cost allocation setup forms under Tools, and reconcile these amounts to the base as it appears on the final Indirect Cost Rate Computation and Analysis.
Note: Should your agency have supplement #403 Dual Indirect Cost Pool installed, this report will provide reconciling pages for both the Common and M&G pools.
Accounts Payable
Subsequent Payments – this option accesses the Payment History routine that is located in the AP Supplements section of the software. It prepares a history of all Accounts Payable checks issued and ACH debits recorded via General Journal to all Vendors. It may be prepared for all or selected Vendors.
Highest Paid Vendors – this will provide a report including vendor code, vendor name and total amount paid for the current fiscal year. It includes all vendors that received payment during the year and when generated it is sorted by total payment amount, largest to smallest. This makes it easy to view your highest paid vendors.
Payroll
Payroll Reconciliation - this provides a reconciliation of your fiscal year to date salaries and payroll taxes incorporating all appropriate journal entries, and the figures as they appear on the trial balance. When this item is selected you will need to identify: 1) the GL liability account for Accrued Salaries, 2) the GL liability account(s) for Accrued Leave,
3) the GL liability account for accrued SS/Medicare and 4) the GL expenditure code for the SS/Medicare expense.
Click on print to generate the report. The report includes the following information:
Salary Reconciliation
Salaries per YTD Payroll Register – this is the Total Pay amount from the YTD Payroll Register. Should your fiscal year be anything other than the calendar year the system will use the appropriate amounts from the previous and current calendar year to represent the fiscal YTD amount.
Less Accrued Salaries PY – this represents the opening GL balance for this account.
Plus Accrued Salaries CY – this represents the fiscal year ending GL balance of this account.
Less Accrued Leave PY – this represents the opening GL balance for this account.
Plus Accrued Leave CY - this represents the fiscal year ending GL balance of this account.
Accrual basis salaries – the sum (and difference) of the above information.
Salaries per Trial Balance – as it appears on the General Ledger 50000 account prior to the final closing entry.
Variance – this represents any difference between the Accrual basis salaries and the Salaries per Trial Balance. An example of a reason for a variance would be special pay that is coded to a GL account other than 50000. An example of a variance is special pay such as life insurance over 50,000 or third party sick pay that is coded to a GL account other than 50000.
SS & Medicare
Employer's share of SS Tax - this is the Total SS taxes withheld amount from the YTD Payroll Register. Should your fiscal year be anything other than the calendar year, the system will use the appropriate amounts from the previous and current calendar year to represent the fiscal YTD amount.
Employer's Share of Medicare Tax - this is the Total Medicare taxes withheld amount from the YTD Payroll Register. Should your fiscal year be anything other than the calendar year, the system will use the appropriate amounts from the previous and current calendar year to represent the fiscal YTD amount.
Less: PY SS & Medicare tax accrual – this represents the opening GL balance for this account(s)
Plus: CY SS & Medicare tax accrual – this represents the fiscal year ending GL balance for this account(s)
Total SS & Medicare Taxes – the sum (and difference) of the above information.
Per Trial Balance – as it appears on the General Ledger prior to the final closing entry.
Variance – this represents any difference between the Total SS & Medicare Taxes and the amount per Trial Balance. Note: If your organization uses the same liability code for accrued Social Security and Medicare as other payroll taxes you may have to adjust the Payroll Taxes section of this report manually or set up a new liability code for SS and Medicare.
Accrued Payroll – You have two options to provide detail behind your accrued payroll amount. The option you chose will be based upon whether an entire payroll has been accrued or just a specific Timesheet batch(es) within a payroll. Please select either By Payroll Register or By Timesheet Batch.
By Payroll Register – check this box to select a specific payroll register by check date.
By Timesheet Batch – check this box to select a specific timesheet batch.
Fixed Assets
Note: You must have supplement #357 Fixed Asset to generate these reports.
Fixed Asset Analysis - Select the Fixed Asset GL code and corresponding Accumulated Depreciation Code to be included in the report, then click print. If a Fixed Asset account is for items that are not depreciated, i.e., grant purchased fixed assets, leave the Accumulated Depreciation code field blank.
GL Reconciliation- 1st Worksheet Tab
1. Fixed Asset:
Opening Balance: This amount is taken from the Prior Year amount in the GL.
Purchases: Includes total purchase amounts of all fixed assets with a purchase date within the fiscal year that is entered under Asset Entry.
Disposals: Includes total purchase amounts of all fixed assets with a disposal date within your fiscal year that is entered under Asset Entry.
Ending Balance: This amount should equal the Balance Forward in the GL for the specified account.
2. Accumulated depreciation:
Opening Balance: This amount is taken from the Prior Year amount in the GL.
Plus YTD Depreciation of Active Fixed Assets: Includes total YTD depreciation during the fiscal year for all assets that have an “A” status in the fixed asset supplement at year end.
Plus YTD Depreciation of Disposed Fixed Assets: Includes total YTD depreciation during the fiscal year for all assets that have a “D” status in the fixed asset supplement at year end.
Less Total to Date Depreciation of Disposed Items: Includes total to date depreciation expense for all items that have a disposition date in the fixed asset supplement within the fiscal year.
Ending Balance: This amount should equal the balance forward in the GL for the specific account.
Fixed Asset Purchases - 2nd Worksheet Tab
This will supply the Fixed Asset Listing and Depreciation Schedule for all assets purchases for the current fiscal year.
Fixed Asset Listing and Depreciation Schedule - 3rd Worksheet Tab
This will supply the Fixed Asset Listing and Depreciation Schedule for all assets with a disposal date within the current fiscal year.
YTD Depreciation - 4th Worksheet Tab
This will supply a Fixed Assets and Depreciation for all active Assets at the end of the fiscal year.
Fixed asset Roll Forward Summary – This provides a summary report for the fiscal year you are closing for asset purchases and accumulated depreciation.
- Setup – In the combo boxes, select a Fixed Asset GL Code and corresponding Fixed Asset Accumulated Depreciation GL code. Continue this process until all fixed assets and accumulated depreciation codes have been identified.
- Print – this will generate a report with the following information:
Cost – identifies the beginning balance (for the fiscal year you are closing) for each asset, any purchases, dispositions and the ending balance that will be rolled forward to the next fiscal year.
Accum Depreciation – identifies the beginning balance (for the fiscal year you are closing) for the accumulated depreciation for each asset, the current year depreciation expense, removal of accumulated depreciation due to asset disposition and the balance that will be rolled forward to the next fiscal year.
Note: If you have multiple fixed asset accounts but only one accumulated depreciation account, you will need to edit the Excel spreadsheet from this supplement to record the correct accumulated depreciation for each asset. If you want the supplement to automatically prepare the report with each fixed asset’s correct accumulated depreciation you must have a separate accumulated depreciation account for each asset and have coded your depreciation entries accordingly throughout the year.
