Update Future Years Accounts Tool Does not Move Payable Amounts from Future To Current
- 21 Apr 2023
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Update Future Years Accounts Tool Does not Move Payable Amounts from Future To Current
- Updated on 21 Apr 2023
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When running the Update Future Years Accounts tool the Grants Payable - Future Years amounts do not get moved to Grants Payable. This occurs in fiscal year General Ledger and does not appear to occur in a calendar year General Ledger.
Steps To Duplicate:
1. Go to the General Ledger module
2. Go to Reports\Trial Balance
3. Run the report to see the break down by fund for Grants Payable and Grants Payable - Future Years
4 Now go to the Accounts Payable module
5. Go to File Maintenance\Update Future Years Accounts
6. Select Date Future Years Start as the first day for the new fiscal year that is the next year after the one currently in
7. Select the Update Payable Accounts and Update Expense Accounts check boxes and click Ok
8. See the message window appear that states that all tasks are complete
9. Now run the Trial Balance again and note that the Grants Payable and Grants Payable - Future Years amounts have not changed.
2. Go to Reports\Trial Balance
3. Run the report to see the break down by fund for Grants Payable and Grants Payable - Future Years
4 Now go to the Accounts Payable module
5. Go to File Maintenance\Update Future Years Accounts
6. Select Date Future Years Start as the first day for the new fiscal year that is the next year after the one currently in
7. Select the Update Payable Accounts and Update Expense Accounts check boxes and click Ok
8. See the message window appear that states that all tasks are complete
9. Now run the Trial Balance again and note that the Grants Payable and Grants Payable - Future Years amounts have not changed.
Answer:
The utility only works on items listed in the ‘Open’ tab in the FIMS AP module. The grant in question in this example had been paid and was in ‘History’ so was not affected by the process. The utility has to be run before the grant is paid and if the voucher due-date is older than the future date the record will not be updated. The grants in this case were older items with due dates in the past that were being looked which would not be affected by the utility.
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