[wactclc-alma] Fiscal Rollover in Alma

[Thomas, Kirsti]

Here are Seattle College's notes on the Fiscal Rollover process in Alma, in case it's helpful for anyone.



It will be ok!

Kirsti S. Thomas (Hear my first name<namedrop.io/kirstithomas>)
Library Technical Services Manager & Systems Librarian
Seattle Colleges
kirsti.thomas at seattlecolleges.edu




The Fiscal Rollover process does 3 things:

  1.  It automatically creates a new fiscal year period based on previous fiscal year periods
  2.  It copies the codes and names from active ledgers and funds into new ledgers and funds associated with a new fiscal year period
  3.  It creates encumbrances in the new fiscal year for the following:

     *   Any One-Time POL that still has an encumbrance in the previous fiscal year
     *   Any Continuous POL that is not marked "Closed"



https://knowledge.exlibrisgroup.com/Alma/Product_Documentation/010Alma_Online_Help_(English)/020Acquisitions/100Advanced_Tools/020Fiscal_Period_Closure





Step 1: Roll over ledgers (Roll over in Draft if you need to make changes)



(Acquisitions > Advanced Tools > Rollover Ledgers).



After rolling over ledgers, enter initial temporary allocations ($1) in all funds and make sure funds are set to allow overencumbrance/overexpenditure *before* rolling over POLs



(Alternately: leave the Check Over Encumbrance box unchecked when you roll over POLs in Step 2)





Step 2: Roll over POLs in Report mode first to check for problems





[Add Job  New  Encumbrance  Calculation  FPC Factor  From Year  Libraries  PO Line  Check Over  Encumbrance  Report Mode  Continuous  Orders Only  Standing  Orders Only  One-Time  Orders Only  Encumbrance  FY-2018  Add  Close  Add Close]



Step 3: Roll over POLs



Step 4: Unencumber POLs that aren't paid every yeaar



The day after after running fiscal close, use the Analytics report

Shared Folders/Seattle Colleges/Reports/Acquisitions/POL to un-encumber take 2

to identify manual renewal subscriptions that we only pay for every few years and unencumber if not paying in the new fiscal year



Create Alma set from Analytics report

Run a job

Update PO lines transactions

Release remaining encumbrance



Step 5: Deactivate legers from previous fiscal year



Step 6: Deactivate previous fiscal year under Alma Config > [Seattle Colleges] > Acquisitions > General > Fund and Ledger Fiscal Period



Helpful notes from University of Rhode Island:

https://sites.google.com/a/uri.edu/librarytechserv/home/funds/fiscal_close
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