How To Close an Account

  1. Receive confirmation from the Fiscal Officer for the account to be closed.
  2. Ensure all position funding has been cleared from the account to be closed by updating Position Distribution for each position in UAccess Employee.  This will clear all salary encumbrances from the account to be closed.  If salary encumbrances remain after the Position Distribution has been updated and has had time to post to UAccess Financials, contact Payroll_Accounting for assistance.
  3. Ensure all operational encumbrances and pre-encumbrances have been cleared from the account.  Reports available in Analytics and Financials can be used to determine encumbrance balances.  If assistance is needed, contact your Fund Accountant.
  4. Use the following steps to identify the Fund, Sub-Fund, and Budget Record Level Code for the account in question and then reference the appropriate Section from the table on page 3 for procedures.
  5. Prepare the eDoc in UAccess Financials to close the account.

How do I determine the Fund and Sub-Fund of the Account I want to close?

  1. In UAccess Financials, open the Menu on the left side of the screen, select Chart of Accounts, then select Account.

    Open the Menu on the left side of the screen, select Chart of Accounts, then select Account.
     
  2. In the Account lookup screen, fill in the Chart Code and Account Number and click Search.

    In the Account lookup screen, fill in the Chart Code and Account Number and click Search
     
  3. The results will be displayed at the bottom of the page. The search results will provide the Fund and Sub-Fund Group Codes. Once you have taken note of the Fund and Sub-Fund, click the account number for additional detail.

    Once you have taken note of the Fund and Sub-Fund, click the account number for additional detail

How do I find my Budget Record Level Code?

  1. This information is found on the Account Inquiry Screen that appears after clicking the account number in the previous step, under the Account Responsibility Tab.
    1. A Cash-Style account says “No Budget”:

      No Budget
       
    2. A Budget-Style account says “Consolidation”:

      Consolidation
       

Use the following table to identify the appropriate section of the Instructions for procedures prior to closing an account based on the Fund Group Code, Sub-Fund Code and Budget Record Level Code:

Fund Sub-Fund Budget Record Level Account Type See Closing Procedures in
ST - State Any/All C - Consolidation State Section 1
AX - Auxiliaries Any/All C - Consolidation Auxiliary Section 2
DE - Designated ALCASC, ALCINV, ALCPRG, or ALCSRF C - Consolidation Locally Allocated Section 1
DE - Designated All other than ALCASC, ALCINV, ALCPRG, or ALCSRF C - Consolidation Budgeted Designated Section 2
DE - Designated All other than ALCASC, ALCINV, ALCPRG, or ALCSRF N - No Budget Cash Style Section 3
DI - Designated Indirect Cost IDCADM C - Consolidation Locally Allocated Section 1
DI - Designated Indirect Cost All other than IDCADM N - No Budget Cash Style Section 3
DR - Designated Service Centers Any/All C - Consolidation Budgeted Designated Section 2
DR - Designated Service Centers Any/All N - No Budget Cash Style Section 3
SP - Sponsored Any/All C - Consolidation Sponsored Contact SPS Fund Accountant
OR - Other Restricted HATCH, MCINST, MULTST, SMTLEV C - Consolidation State Section 1
TR - Tech Research Initiative Any/All C - Consolidation TRIF Section 1
All others (PL, LN, etc.) Any/All Either Other Contact Fund Accountant

* Please also see the Allowable Transfers report in UAccess Analytics for further details. This report will allow you to enter the information gathered above to view allowable transfers. This report is found in the following location: UAccess Analytics > General – System Value Sets > Allowable Transfers

Section 1 – State, Locally Allocated, and TRIF Accounts

  1. Using reports available in UAccess Analytics on the Budget > Budget-Current > Balance Available Detail Dashboard, process an RBC (as a Budget Transfer) to remove all Temp and Perm Budget by Object Code grouping (Personal Services, ERE, and Operations) so as to create as close to a $0 Balance Available (Temp) as possible and exactly a $0 (Perm) Next YR Budget Balance. If the Temp Balance Available is not $0 exactly, ensure it is between $0.00 and a positive or negative balance of $0.99. Reducing the Temp Balance Available within each Object Code grouping will ensure no carry forward will pull in future year carry forward loads. Some departments manage lines outside of the standard Object Code pools of Personal Services, ERE, and Operations (such as in Travel and Capital) and those lines should also be cleared on a Temp and Perm basis.
  2. Processing of RBCs with Temp Budget can result in the movement of cash between accounts. Once RBCs have been processed, you will need to verify that the results of the RBCs zero out the cash balance from Object Code 8100. If the cash balance on the account is not equal to $0, process a Transfer of Funds (TF) document using object code 0932 in both the To and From fields to remove the remaining balance.

Section 2 – Auxiliary and Budgeted Designated Accounts

  1. Using reports available in UAccess Analytics on the Budget > Local Fund Budget > Local Fund Budget Dashboard, process an RBC to remove enough Current Year Budget, rounding up to the nearest $100, to get the Revenue and Expense Balance Available as close to $0 as possible.  It is necessary to analyze by Summary Object Code, such as Object Code 0390 for Sales & Service, Object Code 1000 for Personal Services, etc.  An RBC will also need to be processed to remove all Next Year Budget for both Income and Expense.  All RBCs will be processed as Budget Revisions
  2. Using reports available in UAccess Analytics on the Financial > General–Financial Management > Assets, Liabilities, and Fund Balance to determine if any balances in Inventory, Accounts Receivable, or other Balance Sheet Object Codes exist. If balances do exist clear those balances with a Distribution of Income and Expense (DI) eDoc. Please contact your Fund Accountant with any questions.
  3. Next, process a Transfer of Funds (TF) document in UAccess Financials to move or add enough cash to bring the account balance to $0.00. Use the Dashboard Report on Financial > General–Financial Management > Assets, Liabilities, and Fund Balance to determine the cash balances.

Section 3 – Cash-style Accounts

  1. Using reports available in UAccess Analytics on the Financial > General–Financial Management > Assets, Liabilities, and Fund Balance to determine if any balances in Inventory, Accounts Receivable, or other Balance Sheet Object Codes exist. If balances do exist clear those balances with a Distribution of Income and Expense (DI) eDoc. Please contact your Fund Accountant with any questions.
  2. Once step one is complete, using reports available in UAccess Analytics on the Financial > General–Financial Management > Assets, Liabilities, and Fund Balance to determine the cash balances, process a Transfer of Funds (TF) document in UAccess Financials to move funds to bring the account balance to $0.00.

Preparing the eDoc for Account Closure

  1. After all of the above transactions are completed: (assets, liabilities and encumbrances should be at zero), search for the account by going to Main Menu > Chart of Accounts/Account. (See diagrams on pages 1 and 2 for details)
  2. Enter the account number to be closed and click on Search. Under Actions, click on edit.

    Enter the account number to be closed and click on Search.  Under Actions, click on edit
     
  3. On the Account Form, enter “Close Account” in the Description box.  This can also be restated in the Explanation box. 
  4. Fill out the Account Expiration Date with the current date. This needs to be the current date on the day of submission.  If the document is prepared and saved on one day and submitted another day, the Expiration Date will need to be updated before submission.
  5. Check the “Closed?” box. 
  6. Scroll down to the Continuation Chart of Accounts Code.  Choose UA-University of Arizona-Management. 
  7. Fill in the Continuation Account Number box.  The Continuation is to be used for any transactions attempting to post to this account after the Expiration Date.  
    1. The Fiscal Officer on the account should be able to assist in choosing the correct continuation account to use.
    2. If additional assistance is needed on the applicable Continuation Account,  please reach out to your Fund Accountant.
  8. When the form is complete, click Submit.

Final steps screenshot

Questions? Please contact your Fund Accountant.