SMART General Ledger is officially closed for Fiscal Year 2023
July 7, 2023
The General Ledger Close process, which creates fiscal year-end closing and opening journal entries in the General Ledger, completed this morning, July 7, 2023. SMART is now open to agency users and SMART resumes normal processing.
The closing process brings FY 2023 ending balances forward to the FY 2024 General Ledger balances for the following Account codes: Assets (which includes accounts for Treasurer’s Cash, Petty/Imprest Funds, Receivables, and PrePaids), Liabilities (which includes Payables and Payroll Payables) and Equity (which includes Fund Balance Unassigned). The KGL00001 Cash Balance Report now includes the beginning cash balance for FY 2024. These balances were created by the year-end closing journals (Journal IDs YECxxxxxxx) and are posted to Period 0, FY 2024.
The budget ACTUALS will be downloaded and sent to Division of Budget by the end of July 2023. Note that the expenditure ACTUALS include the sum of Budget Period 2023 expenditures & outstanding encumbrance balances from the CC_IBARS_E budget ledgers and the Budget Period 2023 GL encumbrance journal balances. The revenue ACTUALS include the FY 2023 collected revenue from the CC_IBARS_R budget ledger.