This user guide lists the stages required to close your accounts at the end of the financial year. The key events are listed below with the dates that they must be completed by.
The detailed working instructions can be found within Section 15 of the Star Accounts User Guide.
You will need to plan carefully how you will meet the various deadlines. Please read the notes carefully before proceeding. If you are unsure of any of the tasks please contact your Finance Support Officer.
Key Dates / No. / Action Required19th – 23rd March 2018 / 1 / Review Commitments
19th – 23rd March 2018 / 2 / Enter Accruals (Sundry Debtors & Creditors)Please refer to the Appendix
19th – 23rd March 2018 / 3 / Clear Old Cheques
On/by 23rd March 2018 / 4 / Bank Reconciliation
On/by 23rd March 2018 / 5 / Process all internal transfers relating to 2017-18
On/by 23rd March 2018 / 6 / Backup Star Accounts
On/by 23rd March 2018 / 7 / Rollover – Running Year End
On/by 23rd March 2018 / 8 / Information required by Finance & Business Services Team
Available 23rd March 2018 / 9 / Import the 2018-19Subjective Code list
From 3rdApril 2018 / 10 / Import the 2018-19 ESPO Catalogue
06th April 2018 (available) / 11 / Period 12 download
No later than 17th April 2018 / 12 / Bank Reconciliation as at 31st March 2018
External Audit Requirement
16th April 2018 / 13 / Period 13 download, send Final BCR’s to Finance & Business Services Team
04th May 2018 (available) / 14 / Period 1 Download
1. Review Commitments
A thorough review of all outstanding commitments (Orders and Debtors) should be carried out before the year end rollover is carried out. Please refer to Section 15 (Pages 9-14) of the Star Accounts User Guide for further guidance.
Review Supplier and Customer Codes and make those that do not need to be rolled forward ‘Inactive’. Please refer to Section 4 (Page8) and Section 18 (Page12) of the Star Accounts User Guide for guidance.
2. Enter Accruals (Sundry Creditors and Debtors)
An accrual is an accounting transaction for any goods or services that are supplied on or before 31st March where the invoice has not yet been paid, or where income due has not been received. It is recommended that accruals are only entered into the accounts if failure to do so would have a material effect on the final outturn figures for the school. Further guidance regarding what to enter as a creditor or debtor can be found in the Appendix at the end of this document.
Before entering the accruals print all Budget Control Reports (BCRs). TheBCRs should be printed again after entering the accruals to check their effect on the budget.
Please refer to Section 15(Pages 9-14) of the Star Accounts User Guide for instructions on entering Sundry Creditors / Debtors.
Accruals must not be entered for Petty Cash Transactions.
3. Clear Old Cheques
Any outstanding cheques held within Star Accounts that are over 6 months old should be written back to the accounts, either by reversing the transaction or entering a balancing entry into the accounts.
Please refer to the Frequently Asked Question “How doI dealwith old cheques?”for further guidance.
4. Bank Reconciliation
Complete a Bank Reconciliation using the latest balance of the account via online banking (Barclays.net). For schools that are unable to get an online position we will also accept the reconciliation up to the bank statement as at 28th February 2018.
5. Process all internal transfers relating to 2017-18
Ensure that all internal journals relating to transfers to other Local Authority schools are processed before you complete the year end. Any journals entered after the year end process will not be processed at county until the Period 1 download. Please follow the instructions for completing a “Transfer Request to Other LA Schools” within Section 11 page 12.
Any previously created journals that have not been received via the download must be reviewed at this point. Journals relating to 2017-18 that have not been received by NCC will be cleared from your accounts in the Period 01 download and will need to be re-entered. Any Outstanding Journal Commitments (see Section 11, Page 17) should be re-submitted for processing (see Section 17, Page 19).
6. Backup Star Accounts
Please follow the instructions for completing a “One-Off Permanent Backup” within Section16Page 2 of the Star Accounts User Guide for detailed instructions.
7. Rollover – Run Year End
Before Processing the Year End please ensure you have:
- Completed all downloads relating to the current financial year (excluding the Period 12 (March) download).
- Paid as many Invoices as possible relating to the current financial year.
- Banked all Income relating to the current financial year.
- Entered all Accruals (Debtors/Creditors).
- Entered any required Journal Corrections.
- Completed a Bank Reconciliation (if necessary)
Finally, the Headteacher must examine and approve all BCRs and be satisfied with the current position. Please Note: The period 12 & 13 downloads are yet to be received.
Please refer to Section 15,Page 15, of the Star Accounts User Guide for further details regarding the year end rollover process.
8. Information Required by Finance & Business Services Team
Ensure that all upload files created as part of the year-end rollover process are sent via AnyComms+/ email.
9. Import the 2018-19 Subjective code list
This process should only be completed once your accounts are in Period 1 (April) of the new financial year. Please refer to Section 15(Page 18) of the Star Accounts User Guide for further guidance.
The subjective code list can be printed within the ‘Records’ tab by clicking ‘View Subjective Codes’.
10. Import the 2018-19ESPO Catalogue
This process should only be completed after the 3rdApril when your accounts are in Period 1 (April) of the new financial year.Please refer to Section 4 (Page 11) of the Star Accounts User Guide for further guidance.
11. Period 12 Download (available from 4th April 2018)
Collect and process the Period 12 Download as normal.
Please Note: You do not need to switch back to the prior year as Star Accounts will automatically update the prior year archive file.
Further guidance regarding this process can be found in Section 15 (Page 16) of the Star Accounts User Guide.
Period 12 download itemscan be re-charged to department codes by switching back into last financial year and selecting ‘Assign Depts to Download’ if required.
Period 12 Purchasing card transactions can be re-charged to department codes by switching back into last financial year and selecting ‘Purchasing Card Recharges’.
12. Bank Reconciliation as at 31stMarch 2018 (Audit requirement)
Please ensure you use a bank statement up to and including 31st March 2018. This process is not dependent on completing the period 12 download.
Further guidance regarding this process can be found in Section 15 (Page 17) of the Star Accounts User Guide.
If you do not bank with Barclays you must ensure that a signed bank statementas at 31st March 2018is either electronically transferred, or posted to Finance and Business Services, Room 047, County Hall, to arriveno later than 17thApril.
Please Note:The Statement can be as at a date after the 31st March as long as the balance as at the 31st March can be clearly identified. Only the page with the 31st March balance is required.
Failure to meet this deadline will be documented in Norfolk County Council’s audit report and brought to the attention of County Councillors.
13. Period 13 Download (available on 16thApril 2018)
Collect and process the Period 13 Download as normal.
Please Note: You do not need to switch back to the prior year as Star Accounts will automatically update the prior year archive file.
Further guidance regarding this process can be found in Section 15 (Page 16) of the Star Accounts User Guide.
Period 13 download itemscan be re-charged to department codes by switching back into last financial year and selecting ‘Assign Depts to Download’ if required.
14. Period 1 Download (available from 4th May 2018)
Collect and process the Period 1 Download, and complete the period end,as normal.
Once the Period 1 download has been imported it is recommended that any unused staff codes are deleted from Star Accounts to avoid confusion when selecting staff codes within the Budget Planner. Please refer to Section 5(Page 4) for further details.
APPENDIX
Materiality
A creditor/debtor is not considered material if it is for less than £100 and therefore should not be raised in your accounts.
Schools Using NCC Payroll
(a.)Supply claims for March plus overtime and travel claims for the period from the 20th February to 31st March must have a creditor provision applied for them. These will no longer have automatic creditors created for them.
(b.) Do not include any Creditors / Debtors for non-payroll related NCC transactions, as these will automatically be included on either the Period 12 or 13 download. Creditors / Debtors are permitted for Norse (Norfolk County Services) and Norfolk Property Services (NPS) as they are private companies.
All Schools
(a.) Creditors and debtors must be raised for Capital where appropriate and material.
(b.) Non BMP4 (Building Maintenance Partnership Funds) members wishing to make an in year contribution to the maintenance reserve must notifyHelen Muir in writing before the 17th March to ensure that this is completed.
NORSE Catering Contract Schools Only
Debtors must be raised for any income expected but not received for school meals during the period between the 23rdMarch 2018 (or the date of the schools final March return) and 28th March 2018.
Type A Schools Only
Debtors MUST NOT be raised for the Final Advances payments. These will be downloaded to the school in Period 13 (16th April 2018).
UIFSM Grant Funding
NCC will process year-end adjustments based on the data collected from your census returns to correctly account for the UIFSM grant income received. In some instances this will require a debtor to be raised and in others the grant will be reduced to account for the grant being paid in advance.
Your Finance Support Officer can advise further if you have any questions regarding this process. The information will be generated using the DFE supplied UIFSM calculator.
Sickness Insurance
You must submit your March 2018 claim by the 31st March 2018 in order for this to be included in the accounts for 2017-18. If you are unable to meet this deadline you must create a Debtor within Star Accounts on/before the 23rd Marchi.e. before you complete your Period 12 rollover.
Any Sickness Insurance Claims that are not received at County Hall by 04th April will not be included in the 2017-18 accounts.
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