Please review the important dates and deadlines on this page in advance to assist in your planning for fiscal year end close. It is important that revenues and expenditures are appropriately classified and recorded in the correct fiscal year. Annually, the auditors review transactions to determine if they are properly recorded. Therefore, if goods or services are received and/or provided on or before June 30, please make every attempt to have all related documents processed by the year-end deadlines.
- Moveable equipment inventory: the deadline has been extended to June 15, 2020. Please direct questions to email@example.com .
- Annual Accounts Receivable, Inventory, Unearned Revenue, Prepaid and Accrued Expenses, and Deposits training will be offered live via Zoom on Thursday, May 21, 2020. Details will be forthcoming. An interactive online training will be available on the Year-End Information web page.
- Split payroll: the payroll, which includes the last two days of FY 2020 payroll, will be processed on July 15, 2020. Payroll Expenditure Listings (PELs) will be available after noon on Thursday, July 16, 2020.
- FY 2020 reconciliation and corrections: the timeframe has been extended to accommodate the late split payroll and runs from Wednesday, July 1, 2020 through Friday, July 17, 2020.
- June 30, 2020: Interim close of fiscal year 2020 period 12.Interim reports will be available in UAccess Analytics for this period on Wednesday, July 1.
- July 13, 2020: Line Item Receiving and PREQ documents will continue to post back to Period 12 through this date.
- July 15, 2020: Administrative Service Charge will post back to Period 12.
- July 16, 2020: PELs will be available after noon. Salary Expense Transfers related to the split payroll can be processed using the YEST.
Corrections identified during the reconciliation of period 12
These corrections will need to be initiated using the year-end version of the corresponding document. For example, use the Year-End Distribution of Income and Expense (YEDI) instead of the standard Distribution of Income and Expense document (DI). This chart identifies the year-end version of the standard eDocs:
|STANDARD EDOC||YEAR-END EDOC|
|Distribution of Income & Expense (DI)||Year-End Distribution of Income & Expense (YEDI)|
|General Error Correction (GEC)||Year-End General Error Correction (YEGC)|
|Transfer of Funds (TF)||Year-End Transfer of Funds (YETF)|
|Salary Transfer (ST)||Year-End Salary Transfer (YEST)|
- July 17, 2020:
- All department originated corrections need to be submitted by noon and approved by 5 p.m.
- Administrative Service Charge (ASC) distributions to sub-accounts, sub-object codes, and project codes can be made using the YEDI and YEGC. Documents for movement of ASC must be approved by 5 p.m.
- All YESTs related to Salary Expense Transfers must be approved by 5 p.m.
- July 18, 2020: Period 12 will close.
- July 31, 2020: Final FY 2020 period 13 close, with reports expected in Analytics on August 1.
Year-end documents will route to the Fiscal Officer for approval. Departments can also set up Org Review if additional review by a group or individual is preferred. Refer to the UAccess Financials: Fiscal Officer Workflow & Delegation tutorial for instructions. Year-end transactions feed to UAccess Analytics as they are approved and finalized and can be viewed by selecting Period 13.
Departments will have access to FY 2021 within UAccess Financials beginning July 1, 2020 and throughout the year-end process. The standard documents (ex.: GEC/DI/ST/TF) for FY 2021 will post to period 1 starting on July 1.
- Weekly communications with updates and reminders that are relevant for the upcoming week will be sent via the University Business Offices email list beginning on Monday, April 27, 2020.
- We encourage anyone with financial processing duties who is not already subscribed to this email list to sign-up here.
- Fiscal year 2020 communications will be available on the Year-End Information web page. There will also be a link in the menu within UAccess Financials.
- Be sure to review the list of Important Dates and Deadlines.