1.YEAR END – ACCRUALS
An accrual is necessary for goods or services that were received on or prior to June 30th. Fiscal 12 expenses can be accrued until 4:00 pm on July 18. The process is different depending on whether or not you have an invoice in hand by July 18.
Invoice in Hand by July 18
There is no need to send an email request. Simply complete the Accounts Payable voucher as normal with two differences:
1. Ad hoc Susan Pavis at the end of the workflow path after Accounts Payable.
2. Note in “Instructions to AP” that this is a Fiscal 12 accrual.
Invoice not Received by July 18
Email Susan Pavis at firstname.lastname@example.org by 4:00 pm on July 18th. The email should have all the necessary information such as vendor, amount, smartkey/account and dates of goods or services (which must be prior to June 30th). Please copy the appropriate approver on the email. Susan will process a Fiscal 12 charge to the smartkey. When the actual invoice is received, complete an accounts payable voucher in Fiscal 13, charging the department smartkey, and ad hoc Susan Pavis into workflow as an approver at the end of the workflow. Note in “Instructions to AP” that the voucher was accrued.
2. PCARDS – CHARGES NOT APPEARING ON FINAL VOUCHER
Charges made on your PCard during the last week of June may not be appearing on the END_JUN12 voucher. This is often due to the vendor not submitting the charge to the credit card processor in a timely manner. If you are aware of this situation you should accrue the expense according to the Paragraph in Section 1 above titled “Invoice not Received by July 18”.
Fiscal 12 PCard vouchers were due July 9th. Please review and act on all PCard vouchers routed to you for approval by July 18th. If you have any questions or problems submitting and/or approving your voucher, contact email@example.com
3. WFS DOWN TIME
Per previous communication from ITS, the Finance Office would like to highlight that, due to an administrative systems upgrade, WFS will be down briefly at noon on Thursday for a backup. After that most of the Portfolio will not be available but there will be a special link to get into WFS. WFS will come down again at noon on Friday, July 13 and will remain unavailable throughout the weekend until Monday, June 16. Please plan accordingly.
If you have questions or concerns about this downtime please contact firstname.lastname@example.org.
4. PURCHASING NEWS
There is lots of exciting Purchasing news. Please see the following attachments for news related to WB Mason, a new printing vendor (Dupli Envelope and Graphics), National Car Rental, Interstate All Battery center of Hartford and Executive Valet Parking at Bradley International Airport.
5. Financial Planning – Victor Diaz
Victor Diaz has left his position in Financial Planning to pursue an M.B.A. at the University of Hartford. In his absence, please contact email@example.com. We would like to take this opportunity to thank Victor and to wish him well with his studies.
SUBMISSIONS FOR FINANCE MONTHLY What topics would you like to see included in this monthly communication? Do you have a system tip you’d like to share? Finance Monthly will be e-mailed on a monthly basis. Items for inclusion are due five business days before the end of each month and can be submitted to firstname.lastname@example.org