SMART Finance News You Can Use

SMART Finance Related News

Archive by author: Amanda KadrmasReturn
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May 2024

COVID Grant Coding

Below is a chart showing the related Course codes by fiscal year to be used for various Covid Federal grants. This chart is revised from MDE’s website with the Finance and Course numbers in each column. Covid Grants administered though SERVS must have the correct Course number. Before yearend, you can work on making sure your accounts are using the correct Course numbers. This will be discussed at our yearend meetings.  
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Using SMART Windows to Search for Data

Did you know that you can search for data using multiple fields on more than one line? This functionality works in all search windows (Account Analysis, Voucher Detail Summary, Payment Detail Summary, Invoice Detail Summary, Receipt Detail Summary, etc…). Enter a portion of the data you wish to pull and then click the “Find/Retrieve” icon. Need to start over? Just click the “Query” icon and update as needed 
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Chapter 10 Errors

Now would be a good time to address any Chapter 10 errors you may have. Region1 has reached out to those who have errors so if you did hear from us and need assistance, please reach out. We will not be able to submit your data to MDE without corrections. 
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April 2024

COVID Grants and Course Numbers

As districts receive COVID funds, make sure the correct course number identifying fiscal year is used. Go to MDE’s web site and to see the latest flow chart for COVID accounts. Federal Relief Funds (mn.gov) 
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Entering Requisitions for Next Year (FY24-25)

If your district wants to create requisitions for FY24-25 in SMARTeR, the Accounting Calendar in SMART Finance needs to be opened through July (open the GL in both 202413 & 202414).To create a requisition for FY24-25, enter 07/01/2024 in the Date required field of the requisition entry screen.  This will change the GL period to 202401 on the detail lines of the requisition (Note:  Depending on the security level, the person entering the requisition may not see the GL Peri...
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Purchase Orders for FY24-25

As you get ready to enter POs for next year, all the Periods on the Accounting Calendar need to be open through 202501.  For Periods 202413 and 202414, open GL only. Contact someone in finance if you need help with this. Once period 202501 is open, POs can be saved for the next fiscal year. 
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March 2024

Did You Know...

Need to change expense or revenue accounts because of UFARS requirements?  We have an Account Code Conversion program. If you have accounts that need to be changed (especially pandemic grant accounts), the account conversion program will allow mass changes with a single parameter line. The new accounts are built, the budget/actual is moved from the old accounts to the new accounts and the old accounts are shutoff. Region 1 runs this program for you. If you have a need for this, contact...
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Using Budget Workpapers for the FY25

The SMART Finance Budget Workpapers can be a very useful tool for completing the FY24 budget. Here are some of the features that can be used: For both revenue and expense, as a starting point, copy the FY24 budget to FY25. For revenues, highlight the rows that have been addressed/changed by clicking the box in front of the account.  This will cause the line to highlight in yellow. For expenses, increase all accounts or ranges of account by a specified percent. For example, increase all...
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Credit Vouchers

When you need to make a credit voucher, you will no longer be able to do a negative unit to create this. You will now need to change the voucher type from Invoice to Credit: 
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Revenue Budgeting for FY25

When the FY25 Revenue Projection Model becomes available (anticipated early March), go to MDE’s website using this link to download a copy: https://public.education.mn.gov/MDEAnalytics/DataTopic.jsp?TOPICID=247.If you would like assistance working on next year’s revenue budget, send Stacy, Melissa, or Anthony your FY25 adjusted pupil estimates.  We will use those pupil estimates to create a revenue budget using the Budget Workpapers in SMART Finance.If you begin working on the F...
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