For Financials fiscal year-end, what do I need to do on the last day of the fiscal year?

Listed below are the recommended steps to be completed at the close of business on the last day of the fiscal year.  

1. If using voucher requisitions, you can allow KeyNet users to enter prior year voucher requisitions:
   

   Financials System Administration → Control File Maintenance → Financial System Parameters → FIS KeyNet Control Parameters (KC0017)

   Select Allow entry of Prior Year Voucher Reqs

   This allows end users to enter voucher requisitions through KeyNet for the prior fiscal year.

   
   
2. Review Financial Site Parameters - Requisitions/Purchase Orders
   

   Financials System Administration → Control File Maintenance → Financial System Parameters → Financial Site Control Parameters (LG0144)

   Select the Req/Purch button.  Review the settings for Next Year PO Key and Next Year Req Key

   Next Year Only should not be selected.

   Current Year Only restricts to the new fiscal year.

   Prompt Always requires the end user to select the fiscal year each time. 

   Prompt Once requires the end user to select the fiscal year once each session.
   
   

3. Set the Current Fiscal Year Purchase Orders and Requisitions Numbering Sequences
   

   Financials System Administration → Control File Maintenance → Financial System Parameters → Next Squence Number Maintenance (KF0995)

   Copy the Next Year’s POs and REQs numbers to the Requisitions and Purchase Orders

   Set the Next Year’s POs and Next Year’s REQs  for the next fiscal year.

    

4. Open all Funds for the First Period of the New Year
   

   General Ledger → Funds Period Status Change (GL0048)

   Period to Change = YY*01 (Fiscal Year*Period 1) 

   Set Status to Open. 

   Using the Lookup/F8, select all Funds.
   

5. Adjust the Budget Preparation Site Parameters
   

   Budget Preparation → Budget Preparation Site Parameters (LG0569)     

   Uncheck the Next Year Budget On       
   

6. Restart the RedBack Scheduler (for KeyNet)

This is required for KeyNet to reflect any changed system-wide parameters. Contact your IT department or Keystone if you need assistance.

For more details, see the complete fiscal year end processing manual here: FIS Fiscal Year End Manual.