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Oracle U.S. Federal Financials Implementation Guide
Release 12.1
Part Number E13455-04
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Year-End Closing Setup

Overview

Federal accounting rules require agencies to perform an annual year-end close and submit financial reports providing the status of their appropriations or funds.

The Year End Closing window lets you to set up the year-end close sequence order and define from and to accounts for creation of general ledger records.

Prerequisites

Before setting up Year-End Closing, you must:

Related Topics

Define Accounting Flexfield

Treasury Account Codes Setup

Appropriation Parameters Setup

Setting Up Year-End Closing Definitions

To set up year-end close definitions, navigate to the Year End Closing window.

The following table describes selected fields on the Year End Closing window.

Year End Closing Window Description
Field Name Description
Closing Method Closing Method; Preclosing or Closing
Appropriation Time Frame Appropriation period; one year, multi-year, or no-year

Note: In order to execute the Year-End Close process, a Year-End Close record must be defined for each closing method and time frame with at least one sequence and one line of account information in the Year End Closing window.

Federal Account Symbol Name Treasury account code description; also called the federal account symbol name
Treasury Account Code Treasury account code assigned by the Department of Treasury
Treasury Symbol Treasury symbol for time frame and appropriation group selected
Sequence Number Sequence order for processing
Appropriation Status Status of appropriation. Values include Expired, Unexpired, and Cancelled. If the appropriation time frame is One Year, then the values include Expired and Cancelled only.
From General ledger from account; includes parent and child account values

Note: The same From account should not be used more than once for the same appropriation timeframe, treasury account code, treasury symbol, and appropriation status combination.

To General ledger to account; includes nonparent SGL accounts only
Requisition The check box indicates that this account closing information is for closing of the requisition account. When selected, this accounting will be created when the Treasury Symbol’s closing method matches the Closing Method.

Note: This allows one record to be created for a Closing Method / Time Frame combination to accommodate Treasury Symbols that close requisitions during Preclosing as well as Closing. For example, when running the Year End for Preclosing Closing method, the accounting with the Requisitions check box will only be created for Treasury Symbols with Close Requisitions set to Preclosing.

Related Topics

Copy Year-End Information Procedure

Copying Year-End Information

To copy year-end information:

  1. Perform the Year-End Closing Definitions procedure described in Setting Up Year-End Closing Definitions Procedure

  2. Optionally, query on one or more of the following fields in the Year End Closing window:

  3. Navigate to the Copy Year End Information window.

The following table describes selected fields on the Copy Year End Information window.

Copy Year End Information Window Description
Field Name Description
Closing Method Closing method; Preclosing or Closing
Appropriation Time Frame Appropriation period; one year, multi-year, or no-year
Federal Account Symbol Name Treasury account code description; also called the federal account symbol name
Treasury Symbol Treasury symbol for time frame and appropriation group selected