A major part of the year-end closing activities involve the generation of special closing-related financial transactions. Special Year End (YE) e-docs will be made available in KFS to accommodate the year-end closing activities.
Due to year-end closing, certain limitations and conditions apply to financial transactions that need to be processed after the normal June 30 month-end. These conditions and limitations are discussed in the sections that follow. The YE e-docs will be used to process transactions during a specified period within July and the corresponding general ledger entries will be posted to period 13 of fiscal year (FY) 2019, depending on the date of approval.
YE e-docs are special versions of standard KFS e-docs used to make changes to a fiscal year that has ended. The year-end versions of these documents operate almost identically to the regular KFS versions.
Year-end versions of the following financial documents exist in KFS:
The fiscal period on the associated ledger entries for YE e-docs will be Period 13.
The following financial documents that are enroute before June 30 but not approved as of the night of June 30 will be disapproved:
To ensure that financial documents intended for the current fiscal year have final approval before June 30, it is important that you identify these non-approved financial documents and contact persons in the routing chain. Details on searching for e-docs are provided below.
The normal processing of financial documents consists of three stages: initiation, routing/approval, and final approval. A document's corresponding ledger entries are not reflected on the general ledger or standard reports until the final approval is completed. The only way to identify non-approved financial documents is through the KFS Document Search function.
When the specific document number is known, perform a document (doc) search and open the document. Click the Route button to bring up the route log.
The route log displays the following information:
Once you have gathered the information you need from the screen, click OK to return to the document.
When specific document numbers are not known, you may want to see a listing of all of the documents that you have initiated that have not yet been approved. This can be helpful near the end of a month as well as at the end of the fiscal year, when you need to make sure that certain entries are posted within a specific accounting period.
To perform this search:
A list of all documents that have been initiated by you, with the status specified, will be provided. If you prefer to view the documents with other status codes, enter the status code you wish to view instead.
The status of a document will be one of the following:
To see the details of any of the documents in the results list, click on the document number to open the document. To see the routing log, click on the "Route" button on the document. This will help you determine what actions need to be taken to move your document to "Approved" status.
Remember that you can search by any one or more of the following: