**Special Edition Newsletter for Year End Reminders****
- Workflow – Check your approval inbox daily and act on all documents. Be sure to set a proxy if you are out of the office. Monitor the status of unprocessed documents. All budget errors (red lines) need to be fixed by June 30. At year end there are numerous journal prepared by the finance office that record the prepaid expense or accrual. If you receive one of those journals to approve (Doc ID begins with PPD or ACC) you are only being asked to approve your specific line number, which can be found by viewing the workflow map after clicking the Workflow Status link in the upper right corner of the journal.
- Payroll Redistributions – June 10 was the last day to request payroll redistributions for May activity. The last day for June payroll redistributions is July 11 at 12:00 noon.
- Prepaid Expenses – If you are getting a budget error on a voucher that is to be a prepaid expense email Susan Pavis at firstname.lastname@example.org with the voucher ID and she will take care of it.
- PCard – June 10 was a special PCard download for charges incurred through June 8. Please attach receipts and submit those vouchers as soon as possible. The next download is scheduled for June 22 for activity through June 20 and the final fiscal 2016 Pcard download is scheduled for July 6 for activity through June 30. Please remember to add Susan Pavis in the workflow path of any PCard line number that is considered a prepaid expense and note that line number in the “Instructions to AP”.
- Purchase Orders (PO) – Please review open purchase orders. Any unused or remaining encumbrances must be closed out by June 30, 2016 (except for grant funds 501 and 502 and project funds 710 and 730). Keep this deadline in mind when creating new PO’s as they will not be available in the next fiscal year. Please contact email@example.com to close a PO. The default date for new Purchase Orders will change to fiscal 2017 on June 27.
- Accruals – If work is being performed or goods are received prior to June 30 and you have not yet been billed, please request accelerated billing from the vendor so that you can process the payment in the current fiscal year. The more billing and invoice processing we do now, the less accruals we will need (more to come on accruals after June 30).
The year-end schedule is available here as well as on the Finance website. Thank you for all of your efforts in getting expenses in the appropriate fiscal year.
2. INTERDEPARTMENTAL CHARGES
All interdepartmental chargebacks (including transactions processed via a WFS Interface) need to be processed, and budget errors cleared, by June 30. If you are experiencing a budget error please contact the department and ask them to either provide a new smartkey or add budget to the existing smartkey. The following are exceptions to this timeline and will be processed by July 15 so please plan budgets accordingly:
- Payroll for 6/27 – 6/30
- Pcard charges for 6/21 – 6/30
- June International Calling charges
- June FEDEX CHARGES.
Please let Valerie Nye (firstname.lastname@example.org) know if you have interdepartmental chargebacks that will not meet this deadline. Unless there is a specific exception, departments cannot be charged in fiscal 2017 for an activity or service that happened in fiscal 2016.
3. YEAR END SEMINAR
A final year end seminar is scheduled for Thursday, June 23, 11:00 in Usdan 108. This session is intended to be more of an informal, question and answer session and not necessarily to go through the year end presentation. Please bring questions and specific examples of year end issues you may be facing.
4. FINANCE CALENDAR
Have you subscribed to the Finance Calendar in Outlook yet? It is a handy new tool to help you keep track of the myriad of dates and deadlines associated with year end. Instructions for subscribing can be found here.