The University’s fiscal year end is this Saturday! The following are important reminders related to year end activities.
Accounts Payable – In order to charge an expense to Fiscal 12 budgets the goods must be received or services performed prior to June 30. Detailed explanations and examples can be found in the Year End memo and Seminar Presentation.
- Prepaids: If you have made a purchase for next fiscal year (goods received, services performed or travelling after June 30) but the payment needs to be made now you can use the Prepaid process described in the year end memo. You can avoid the prepaid process by simply waiting until July 2 to create the voucher.
- Accruals: You should not be requesting accruals yet as you have until June 30 to received the invoice and create the voucher. If the invoice arrives between July 1 and July 18 simply create the voucher and add Susan Pavis at the end of the workflow path so that she can book it in Fiscal 12. If you know you have incurred an expense but have not yet received the bill by July 18 please send Susan Pavis an email at spavis@wesleyan.edu.
- Purchase Orders: Any unused or remaining encumbrances in funds 100, 101, 140, 601, 602, 651, 652, and 720 must be closed out by mid-day Friday, June 29, 2012. Also, please keep this deadline in mind when creating new PO’s as they will not be available in the next fiscal year. Please contact finance@wesleyan.edu to close a PO.
Workflow – If you are an approver, please monitor the smartdocs that require your approval daily and be sure to set a proxy if you are unable to do so.
Deposits – Cash deposits are due to the cashier by 10 am June 28. Check deposits are due by 10 am June 29. The deposit transmittal will not be available after 10:00 am June 29. It will be back up at 9:00 am Monday, July 2.
Payroll Redistributions – Payroll redistributions should be for June activity only and must be requested by 12:00 pm on July 9.
IMPORTANT NOTE ON WFS AVAILABILITY: Due to the SFIS upgrade, we have been notified by ITS that the system will be down briefly at noon on Thursday, July 12. It will come back up and be available until noon on Friday, July 13, at which time it will be down for the weekend until Monday morning. Please plan accordingly.
Contact finance@wesleyan.edu with any questions.