1. YEAR END – ACCRUALS
An accrual is necessary for goods or services that were received on or prior to June 30 or travel that occurs prior to June 30. Fiscal 2014 expenses can be accrued until 10:00 am on July 16. The process is different depending on whether or not you have an invoice in hand by July 16.
Invoice in Hand by July 16:
There is no need to send an email request. Simply complete the Accounts Payable voucher as normal with two differences:
1. Note in “Instructions to AP” that this is a Fiscal 2014 accrual.
2. Ad hoc Susan Pavis at the end of the workflow path after Accounts Payable.
Invoice not Received by July 16:
Email Susan Pavis at firstname.lastname@example.org by 10:00 am on July 16. 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 30). Please copy the appropriate approver on the email. Susan will process a Fiscal 2014 charge to the smartkey. When the actual invoice is received, complete an accounts payable voucher in Fiscal 2015, 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_JUN14 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 16″.
Fiscal 2014 PCard vouchers are due July 11. Please review and act on all PCard vouchers routed to you for approval by July 11. If you have any questions or problems submitting and/or approving your voucher, contact email@example.com
3. 2015 BUDGETS
2015 budgets have been loaded. The budgets in funds 111, 140, 210, 5xx, 6xx, 720 and certain budgets in funds 101 and 105 are still subject to change based upon additional activity that is still being posted to Fiscal 2014.
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