BIAS Help CenterFinancial Year End ProcessingHow do I create beginning fund balances?

How do I create beginning fund balances?

For the new year, the beginning balances for the funds need to established.  Once the the prior year is finished and the December Treasurers Report is in balance, continue with the steps below.

Are you using the Beginning Balance Wizard or entering the balances manually?

Go to Transactions > General Ledger

  1. Click Add New
  2. Enter Date to 01/01 of the current year
  3. Select Type Beg Bal
  4. Click GL Wizard

The Wizard will show the Prior Year Ending Balance for each fund, the Current Year Starting Balance and the corresponding BARS code.  Also confirm that Reserved funds are using a 308 10 BARS code.  If the fund has both a 308 80 and a 308 10, BIAS will use the 308 80.

  1. If balances are correct, click Update

BIAS will create the Beginning Balance entry

  1. Review entry, click Save & Close

Go to Transactions > General Ledger

  1. Click Add New
  2. Enter Date to 01/01 of the current year
  3. Select Type Beg Bal

  1. Enter the Ending Balance for the fund from the 12/31 previous year Treasurers Report into the Amount column.
  2. Enter Beginning Balance BARS code for the fund. Repeat steps 4-5 for each fund.
  3. Confirm Beginning Balance Amount total matches the Ending Balance total from the Treasurers Report.
  4. Click Save & Close
Congratulations, you are done!

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