The Ohio State University – PeopleSoft 8.4
Financials Year End Close Checklist
Complete
Process
Time Frame
Who is
Responsible/
How Executed
Run Earnings Initial Load.
GFSA Incremental Changes posted.
Run GFSA Initial Load.
Suspense journals are cleared, including Procurement journals that
have been fed via Journal Generator.
Cut-off for GL Interfaces for OSURF and UNIV.
Update IDB Allowed to ‘No’.
Update Maintenance Code to include “Period 12 – Jun XXXX 1st
Close”.
Check on any old report movement in Brio?
Run OSURF RBNA Allocations and send allocation data to Projects.
F&A calculation run in Projects and sent back to the GL.
Accrual areas make period end adjustments.
Mid/Late April
Mid June
Mid June
1st business day
of July
2nd business
night of July
OIT
RMS/RP
OIT
Controller’s Office
2nd business
night of July
2nd business day
through fifth
business day of
July
nd
2 business day
through 5th
business day of
July
5th business day
of July
5th business
night of July
Autosys
Fiscal officers execute flexible reports to verify year end data.
Adjust ledgers for “UNIV”, “OSUMC” and “OSURF” business units
to change adjusting year for adjustment entries.
Benefit, Interest, Overhead, Federal Work Study, and Departmental
Allocations are executed, and journals are edited, budget checked and
posted.
Automatic Budget Reallocation (ABR) program is executed.
Outbound Interfaces Run (RPIA & Treasurer).
Execute year-end close (COBOL) program for Actuals ledger for
UNIV and OSURF business units.
Execute preliminary year- end reports for University.
Check that IDB allowed is still set to ‘No’.
Re-open period 12 of prior year.
5th business
night of July
5th business night
of July
5th business night
of July
5th business night
of July
6th business day
of July
(morning)
Actual Date for this
Year
OIT/Controller’s
Office
End users/Manual
process in Journal
Entry
End users/BRIO
Controller’s
Office/HS Finance
Autosys
Autosys
Autosys
Autosys
Autosys
OIT/Controller’s
Office
1
The Ohio State University – PeopleSoft 8.4
Financials Year End Close Checklist
Complete
Process
Verify year-end encumbrance/pre-encumbrance balances.
Run Performance Reports.
Close Period 12 for OSUMC.
Schedule C Web Templates are loaded into prep tables.
Budget Reversal for bi-weekly accrual (Boyer).
Update Maintenance Code to “Period 12 – June 2002 2nd Close”.
Unpost allocations from initial close (all allocations that belong to
Autosys).
Ensure that related suspense journals are also unposted.
Benefit, Interest, Overhead, Federal Work Study, and Departmental
Allocations are executed, and journals are edited, budget checked and
posted.
Automatic Budget Reallocation (ABR) program is executed.
Outbound Interfaces Run (RPIA & Treasurer).
Execute year-end close (COBOL) program for Actuals ledger for
UNIV and OSURF.
Execute year-end reports.
Set IDB allowed to ‘Yes’.
Check that open periods/years is correct.
GFSA Carry Forward process is executed.
Double check output from 2nd close (Actuals, Enc, Pre-Enc and GFSA
carryforwards).
Earnings Load Back process is executed.
Schedule C Load Back process is executed.
Delete stat accounts (99901, 02 and 03) entries on ledger that got
carried forward to period 0).
Cut-off for GL Interfaces for OSURF and UNIV (for July).
Update IDB Allowed to ‘No’.
Remove “2nd Close” from Maintenance Code.
Enter new allocation rates:
• Overhead Rate (yearly) – Rob Hupp
Time Frame
6th business day
of July
(morning)
8th or 9th business
day of July
Mid July
Who is
Responsible/
How Executed
OIT/Controller’s
Office
Autosys/HS Finance
RMS/RP
Mid July
Mid/Late July
OIT
Controller’s Office
Mid/Late July
Autosys
Mid/Late July
Mid/Late July
Mid/Late July
Autosys
Autosys
Autosys
Mid/Late July
Mid/Late July
(morning after
2nd close)
Late July
Late July
Autosys
OIT/Controller’s
Office
End of July
End of July
After Earnings
Load Back.
End of July
2nd business day
of August
through 5th
business day
2nd business day
of August
Actual Date for this
Year
Autosys/OIT
OIT/Controller’s
Office
OIT/AutoSys
OIT/AutoSys
OIT
OIT/Controller’s
Office
OIT/Controller’s
Office
2
The Ohio State University – PeopleSoft 8.4
Financials Year End Close Checklist
Complete
Process
Time Frame
• Interest Rate (monthly) – Mike Baker
• Benefit Rates (yearly) – Rob Hupp
Update Interest Allocation BEGBAL timespan for period 1 – Seanne.
through 5th
business day
Zero out B-Orgs (PBA).
PBA ledger is closed.
Actuals ledger is re-closed for 998 adjusting entries (for OSUMC).
Actuals ledger is re-closed for 998 adjusting entries (for OSURF and
UNIV).
2nd business day
of August
through 5th
business day
2nd business day
of August
through 5th
business day
1st week of
August
October
Who is
Responsible/
How Executed
Actual Date for this
Year
RMS
OIT/RMS
HS Finance/Manual
entry on “Ledgers for
a Unit” panel.
Controller’s
Office/Manual entry
on “Ledgers for a
Unit” panel.
3