Needs Formatted
Current Entity: Web-GAAP Training School - 2004
This is intended to help those entities who are not able to obtain a file of cash transactions from their general ledger to upload into Web-GAAP and who therefore need to enter manual cash transactions. This feature will “copy” the prior year cash transactions with the transaction type of manual cash transactions (not adjustments or audit adjustments) to the current year as long as the prior year is flagged as complete and the current year is not flagged as complete. The copy will populate the cash journal with transactions that will include the account information from the prior year transactions, but all the amounts will be zero. Our concern with just copying prior year amounts was once the user starts to edit the prior year amounts to current year amounts it would be easy to fail to update a prior year amount and complicate the process of balancing current year manual cash transactions to the general ledger.
Obviously the transactions will need to be entered the first year on Web-GAAP as otherwise there would be nothing to copy.
To use the feature the year into which the prior year transactions will be copied must be opened. Opening the fiscal year will roll the funds and departments, if applicable, to the opened year. The copy prior year’s manual cash transaction option should be selected in the entity and fiscal year into which the transactions are to be copied. For example, if the cash transactions for Ohio County FY 2004 were entered into Web-GAAP as manual cash transactions, one would open FY 2005. Once 2005 is open and one has selected Ohio County FY 2005, one could copy the FY 2004 manual cash transactions to FY 2005.
As with the cash upload process, this process can be executed as often as necessary. However, executing the process will delete ALL current year manual cash transactions, including not only the transactions created by the prior process, but also those that were separately entered and will replace them with the newly created manual cash transactions. If one had started to edit the previously copied transactions, redoing this process will delete the “edited” transactions and replace them with new transactions containing prior year accounts and all the amounts will be zero so caution needs to be exercised when running this option especially more than once for a given fiscal year. BE SURE THE ENTITY AND FISCAL YEAR SELECTED IS THE ONE INTO WHICH THE PRIOR YEAR TRANSACTIONS ARE TO BE COPIED AND VERIFY THE SYSTEM PROMPT (COPY 2004 MANUAL CASH TRANSACTIONS TO 2005) BEFORE INITIATING COPY.
To perform this process, click on Initiate Copy. You will see the following message displayed:
