| Note |
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Individual ITCs may supply slightly different instructions depending on the policies and procedures of the ITC. Therefore, these procedures are intended to be general guidelines only. |
Pre-Closing Procedures
The following pre-closing procedures can be completed any time prior to closing the fiscal year.
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- 4. When all assets have been entered, run any fiscal year-end reports desired. The following are suggested:
GAAP Reports
- Fixed Asset By Source (Classic's EIS101)
- Fixed Asset By Function/Class Report (Classic's EIS102)- Recommended to run all three options
- Schedule of Change in Fixed Assets Report (Classic's EIS103) - Only if on GAAP - Recommended to run the following:
- Schedule of Change in Fixed Assets by asset class (both summary & detail)
- Schedule of Change in Fixed Assets by function (both summary & detail)
- Schedule of Change in Fixed Assets by fund (both summary & detail)
- Schedule of Change in Depreciation Report (Classic's EIS104) - Only if on GAAP - Recommended to run the following:
- Schedule of Changes in Depreciation by asset class (both summary & detail)
- Schedule of Changes in Depreciation by function (both summary & detail)
- Schedule of Changes in Depreciation by fund (both summary & detail)
Non-GAAP Reports
- Asset Listing by Grant/Source (Classic's EIS203)
- Brief Asset Listing Report (Classic's EIS304): Recommended to run the following: (the five reports should include capitalized items only and Status Codes of Active, New, Excess Asset Held for Sale, and Excess Asset Not in Use (with the exception of the disposition report)
- Brief Asset Listing sorted by fund
- Brief Asset Listing sorted by function
- Brief Asset Listing sorted by asset class
- Acquisitions for current fiscal year
- Dispositions for current fiscal year
- Book Value Report (Classic's EIS305): Recommended to run the following using current Fiscal Year (xxxx) for the reporting date. The four reports should include capitalized items only and Status Codes of Active, New, Excess Asset Held for Sale, and Excess Asset Not in Use for the full reports, and Status Code Disposed for the disposition reports.
- Book Value Report sorted by function
- Book Value Report sorted by class
- Depreciation for current FY dispositions by function
- Depreciation for current FY dispositions by class
- Inventory Audit Report (Classic's EIS801): Run the official report
- Recommend running the official option for ALL report types (leave 'select report type' blank to include all of them) and enter a date range for the entire fiscal year (Start Date 07/01/xxxx and Stop Date 06/30/xxxx).
| Note |
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The following non-GAAP reports and Inventory Report Bundle are currently in development |
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- Depreciation Posting Report (Classic's EISCLS EISDEP projection report)
- JIRA issue #INV-330; estimated release July 2022
- Fiscal Year Ending Balances Report (Classic's EISCLS report)
- JIRA issue #INV-331; estimated release July 2022
- Depreciation Posting Report (Classic's EISCLS EISDEP projection report)
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