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May 2022

Did You Know?

Did you know there is a search feature in Smart Finance? If you are looking for something and don’t know where to find it (like Budget Workpapers), just click on the Quick Access down arrow and type in what you are looking for. A selection will pop up and you can click on what you want. 
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As the End of This Fiscal Year Approaches...

Now would be a good time to take a look at the State and Federal receivable accounts in all funds. These accounts should have a zero balance. If there is a balance in any of these accounts (B XX-121-XXX, B XX-122-XXX, and B XX-123-XXX), take a look at the entry in period 202113 that created the receivable and reverse it (or part of it). Contact Stacy, Kameron, or Wayne if you would like assistance.
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April 2022

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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Purchase Orders for FY22-23

As you get ready to enter POs for next year, all the Periods on the Accounting Calendar need to be open through 202301. For Periods 202213 and 202214, open GL only. Contact someone in finance if you need help with this. Once period 202301 is open, POs can be saved for the next fiscal year.
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Copy Journal Entries

We have a new feature when you are copying Journal Entries. Now you can not only copy one, but you can reverse the journal entry in the copy feature.Bring up your current journal entry and click on COPY:Fill in JE Date, Period and description and check the box that says copy plus reverse:This will create a new Journal Entry with the Debits and Credits reversed. 
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Entering Requisitions for Next Year (FY22-23)

If your district wants to create requisitions for FY22-23 in SMARTeR, the Accounting Calendar in SMART Finance needs to be opened through July. To create a requisition for FY22-23, enter 07/01/2022 in the Date required field of the requisition entry screen. This will change the GL period to 202301 on the detail lines of the requisition. (Note: Depending on the security level, the person entering the requisition may not see the GL Period.)When the requisition is transferred to...
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March 2022

Using and Changing Batch Numbers

If you want to review, add, change or delete a batch number, click on the window icon and select Batch. From the action menu, New and Find can be used. Batch numbers can be generic and reused if don’t want to create new batch numbers each month.
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Using Budget Workpapers for the FY23 Budget

The SMART Finance Budget Workpapers can be a very useful tool for completing the FY23 budget. Here are some of the features that can be used: For both revenue and expense, as a starting point, copy the FY22 budget to FY23. 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 al...
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Need to Change Expense or Revenue Accounts for UFARS Requirements? Did You Know...

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 someone in Finance.
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Revenue Budgeting for FY23

A FY23 Revenue Projection Model is now available. This model has the correct FY23 levy data, but, most of the aid estimates on the State Aids tab are from FY22. The Whatif will be updated later this spring as new estimates become available. The Revenue Projection Model is available on MDE’s website using this link: https://public.education.mn.gov/MDEAnalytics/DataTopic.jsp?TOPICID=247If you would like assistance working on next year’s revenue budget, send Stacy, Kameron, or Wayne you...
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