Skip to main content

FA-05 Create Accounting

Purpose

The purpose of this Quick Reference Guide (QRG) is to provide a step-by-step explanation of how to run Create Accounting for fixed assets in the North Carolina Financial System (NCFS).

Introduction and Overview

This QRG covers the process of running create accounting for Assets in NCFS which will enable you to account and post the FA transactions in the general ledger for the CASH and ACCRUAL ledger.

User Tip

The following are prerequisites to run create accounting

  1. Process all incomplete transactions.

  2. Run Periodic Mass Copy to copy asset transactions from CASH to GASB book.

  3. Validate Mass Copy

Create Accounting for Assets

To run create accounting for Assets in NCFS, please follow the steps below. There are 11 steps to complete this process.

Step 1.    Log in to the NCFS portal with your credentials to access the system.

Step 2.    On the Home page, click the Fixed Assets tab. Click the Assets app.

Step 3.    The Assets dashboard page opens. Click the Tasks icon and click on Manage All Books.

Step 4.    On the Manage All Books page, select the Asset Book Monitor section. Select the required Book from the Book field to run Create Accounting.

In this example, we choose AGENCY 1900 CASH BOOK. Click the Create Accounting button.

Step 5.    The Create Accounting pop-up appears, select the applicable End Date, Accounting Mode (Draft or Final), Process Events, Report Style, Transfer to GL, and Post in GL from the respective drop-down choice list. Click the Submit button.

Step 6.    The Confirmation pop-up appears. Click the OK button.

Step 7.    On the Home page, click the Tools tab. Click the Scheduled Processes app.

Step 8.    On the Overview page, click on the Refresh button until the process status shows Succeeded.

Step 9.    Click the Create Accounting Execution Report process. Click the Republish icon.

Step 10.     A new Create Accounting page opens, click on the Settings icon. Click the Export option. Export the report output as per the desired format. In this example, we choose PDF.

Step 11.    The Create Accounting Execution Report will be displayed.

Wrap-Up

Create Accounting for Assets process gives you the ability to generate accounting for Asset transactions and validate (DRAFT mode) and post the accounting entries (FINAL mode) to the General Ledger.

Additional Resources

First Published

Last Updated