Period end closing help needed

[former_member380634]

We are a nonprofit organization in the USA. We we use fund accounting the end segment designates the fund. So, 4010-01-TR would mean donation to division 01 and is a temporarily restricted donation. I am trying to do the period end closing for the fiscal year ending June 30 now that our annual audit is over. Problem is EVERYTHING is posting to UR and nothing to TR. i cannot figure out why. Please help.

[Abdul]

Please explain yon want to split of closing balance figure according to segment of account. If this is the case than you split figure according to your segment but for this you need to create different period end closing accounts.

[former_member380634]

For nonprofits we are required to use fund accounting. UR stands for unrestricted revenue we recieved, meaning we can spend it anyway we need to. TR stands for "temporarily restricted" meaning that the donor has donated to a particular project we are conducting and I cannot spend that money to pay our utility or salary expenses. The problem I see with SAP Business One's period close program is that i have to select "one" GL account with all its segments like: 3040-01-UR Closing Accounts Carryover account (retained earnings in a for-profit company) in the GL account determination for period closing setup. That means everything will be posted to Division 01 and as UR (unrestricted) even though there are other divisions and some TR to be closed out as well.

A better setup would be to just allow us to use the 4 digit natural account for Closing Account carryover account and SAP would move the funds off the P&L to the balance sheet as retained earnings by the vision and by the fund assigned to it. but SAP is really not a non-profit software as we have since found out, despite what our SAP consultant/salesman told us.

[former_member380634]

For nonprofits we are required to use fund accounting. UR stands for unrestricted revenue we recieved, meaning we can spend it anyway we need to. TR stands for "temporarily restricted" meaning that the donor has donated to a particular project we are conducting and I cannot spend that money to pay our utility or salary expenses. The problem I see with SAP Business One's period close program is that i have to select "one" GL account with all its segments like: 3040-01-UR Closing Accounts Carryover account (retained earnings in a for-profit company) in the GL account determination for period closing setup. That means everything will be posted to Division 01 and as UR (unrestricted) even though there are other divisions and some TR to be closed out as well.

A better setup would be to just allow us to use the 4 digit natural account for Closing Account carryover account and SAP would move the funds off the P&L to the balance sheet as retained earnings by the vision and by the fund assigned to it. but SAP is really not a non-profit software as we have since found out, despite what our SAP consultant/saleman told us.

[former_member380634]

For nonprofits we are required to use fund accounting. UR stands for unrestricted revenue we recieved, meaning we can spend it anyway we need to. TR stands for "temporarily restricted" meaning that the donor has donated to a particular project we are conducting and I cannot spend that money to pay our utility or salary expenses. The problem I see with SAP Business One's period close program is that i have to select "one" GL account with all its segments like: 3040-01-UR Closing Accounts Carryover account (retained earnings in a for-profit company) in the GL account determination for period closing setup. That means everything will be posted to Division 01 and as UR (unrestricted) even though there are other divisions and some TR to be closed out as well.

A better setup would be to just allow us to use the 4 digit natural account for Closing Account carryover account and SAP would move the funds off the P&L to the balance sheet as retained earnings by the vision and by the fund assigned to it. but SAP is really not a non-profit software as we have since found out, despite what our SAP consultant/saleman told us.

[kothandaraman_nagarajan]

Hi,

What do you mean by TR and UR? Have you selected correct GL account in period end selection criteria? also check you GL account determination for 2018.

Regards,

Nagarajan

[former_member380634]

See my post below.