SMART Finance News You Can Use

Before you know it, FY25 fiscal year end will be here!  Below are some cleanup items you'll want to start looking at as you have time: 

• Open Invoices (for those who use invoicing)
  Go to Accounts Receivable/Invoice Summary. Choose status of OPEN and click on find/retrieve. You can then click on the Inv Date column header to rearrange it so that the oldest invoices show up first. Your district should go through any old invoices and identify whether they should still be out there or if you need to clean them up. If you need help cleaning them up, please reach out to our finance team at Region 1. Melissa, Jenn or Stacy can help you with this.
  
  

• Open Requisitions
  Go to Purchase Orders/Requisition Summary. Click Find/Retrieve. Click on the Date column header to rearrange so that the oldest requisitions show up first. Go through these and see if any should be removed. If there are any to be removed, email finance@region1.k12.mn with your list and our team can remove them for you.
  
  

• Purchase Orders
  Go to Purchase Orders/Purchase Order Summary. Choose status of OPEN and click on Find/Retrieve. Click on the PO Date column header to rearrange for the oldest purchase orders to show up first. Go through these and see if you can close any of them. If you leave them OPEN, know that there will still be an encumbrance out there.
  
  

• Vouchers
  Go to Accounts Payable/Voucher Summary. You will want to do a couple of Status searches, OPEN, In Process, and HOLD. On each of these, click on the Inv Date header column to rearrange for the oldest vouchers to show up first. At this point you will need to go through and decide if you can void the voucher, or if you need to leave them out there. Know that if you leave them out there, the encumbrance will be there as well.