Overview
This article provides general guidance on how to inactivate a balance sheet account. Some cases where inactivation needs to be evaluated include when account owners identify accounts under their purview that are no longer needed and can be inactivated, there are opportunities to consolidate activity to fewer accounts, or when an account has no balance and no recent activity, or an account may no longer be needed due to a change in processes or circumstances. For example, if an account is tied to a specific bank account and the bank account is closed.
Essential Information
- Submit a Ticket to Budget & Finance to request account inactivation.
- The request needs to have approval from the balance sheet account owner.
- The request may need additional levels of approval (e.g., the appropriate financial officer or the VC office).
Next Steps
1. Go to https://bah.ucsd.edu/financial/index.html
2. Search for Internal Controls and Accounting Dashboard
3. Select GL Period Net Activity Balance By Fiscal Year from the list of reports.
4. Click Select all to select all entities. Click Finish.
5. Where it shows “HTML”, click and select “Excel” to download the file.
6. In the downloaded report, identify the accounts that are owned by your area.
- If an account shows a blank cell under a fiscal year, that indicates there was no activity.
- If it shows a zero, it indicates that there was activity, but that it netted to zero. If the cell shows an amount, that is the net total activity.
- This report does not include account balances.
7. To determine the current balance of the account, run the General Ledger Transaction Details report in the Internal Controls and Accounting Dashboard of the Business Analytics Hub.
8. Select the accounting period and the account and click Apply.
9. Export the Report.
10. The recommended alternative report to run is the Transaction Details Report (TDR) to get transaction activity.
11. If the account is no longer needed, but has a balance, move the balance out before requesting inactivation.
12. Obtain approval to inactivate from the appropriate financial officer / VC office, e.g., an email reply approving inactivation.
12. Submit a Service Now ticket to request inactivation. Select Budget & Finance, then Get Help.
13. In the drop-down options, select the following:
- Ask a Question or Make a Request
- Financial Accounting, Chart of Accounts
- Chart of Accounts Inquiries
- Complete the Subject and Description and upload attachments, including the reports mentioned above and emails showing approval to inactivate.
- Click Submit.
Questions?
If you need any additional assistance, please Submit a Ticket