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these dates are automatically rolled forward to the next period preventing any <br />unintentional or improper posting of transactions after period end. <br />g. Rollover of Encumbrance and Pre - encumbrance balances as desired <br />The Lawson Year end encumbrance roll -over program offers the City several <br />options for updating the encumbrance and appropriation balances. <br />Option 1: Rollover all commitments to the new year but without rolling any <br />budgetary /funding data. Encumbrances will have to be accounted for in new <br />year budget figures. <br />Option 2: Book all open encumbrances to the current fiscal year expense <br />accounts and book an offsetting credit to the balance sheet for "encumbrance <br />control ". This is an auto - reversing entry which will create "credit" balances in <br />these accounts at the beginning of the new fiscal year. <br />Option 3: Roll Encumbrances forward to the new fiscal year and <br />automatically create adjusting entries to the new year budget to also roll <br />forward corresponding budgetary/funding amounts. <br />Run Preliminary close Financial Statements and Reports <br />Lawson allows for financial reports to be created using a variety of tools based <br />on the required information and the target audience. The basic Lawson General <br />Ledger system contains a standard Financial Statement creation tool for all <br />standard Balance Sheet, Statement of Activities, and Cash Flow reporting. In <br />addition, the General Ledger and Grant and Project Accounting systems are fully <br />integrated with the market leading Data Warehouse / OLAP engines for more <br />advanced reporting options. Both of these tools include the capabilities to create <br />the necessary documents for a standard CAFR. The Lawson Reporting Suite <br />also offers tools for ad -hoc queries, non - Lawson data queries and inclusion in <br />reports as well as extensive formatting, scheduling and customization <br />capabilities. Any or all of these tools can help the City create and audit year end <br />Financial Statements for validity. <br />Create any necessary Adjusting Entries <br />If any additional adjustments are required, these can be quickly entered into the <br />system and posted in real -time for online updating of financial figures. Lawson's <br />integration to Data Warehouse engines also includes the ability to update <br />balances on an incremental basis for fast and accurate reporting from these tools <br />even in the midst of month or year end close proceedings. <br />j. Post and Close year end with Preliminary status <br />The Lawson system allows the to close one or more funds on a Preliminary <br />basis. If the year end is closed with a status of "Limited" users with the <br />appropriate authority can re -open the year for further adjustments as necessary. <br />A year can be opened and closed as many times as necessary for adjustments <br />until such time as the accounting department determines they are prepared to <br />close the books on a "final" basis. <br />Lawson Software - Confidential 12 <br />