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Annual Closing of the Books - May 4, 2018

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Presentation on theme: "Annual Closing of the Books - May 4, 2018"— Presentation transcript:

1 Annual Closing of the Books - May 4, 2018
Year End Close 2017/2018 Annual Closing of the Books - May 4, 2018

2 Introduction and Welcome
Campus locations Overview Due dates – Procurement & Financial Accounting Year-End Closing of the Books Memo: affairs-documents/annual-cob-memo-fy18-final.pdf?sfvrsn=bee16067_0 Payroll Redistribution requests – June 20 Questions Thank you!

3 Overview of Due Dates: Procurement
May 1 – Formal procurements (purchases over $150,000) May 11 – Informal procurements (purchases between $25,000 - $149,999) June 1 – Semi-formal procurements (purchases between $5,000 - $24,999) June 1 – PO entry into Banner June 27 – P-Card cutoff

4 Overview of Due Dates: Financial Accounting
June 27 - P-Card cutoff June 29 (Friday) 12:00 pm – SIS Receivables due in BAO 12:00 pm – Cash receipts (cash and checks) due in Cashier’s Office 5:00 pm – Goods/services need to be received in order to be included in the /2018 budget

5 Overview of Due Dates: Financial Accounting - continued
July 5 Travel, Personal, and Hosting Reimbursements due in BAO Travel crossing fiscal years? Record in 2018/2019 Vendor invoices due in BAO Journal vouchers for 2017/2018 budget due in BAO Can enter, or send to BAO for entry July 9 – Banner FIS and HRIS unavailable 4:00 – 5:00 pm – closing Period 12

6 Overview of Due Dates: Financial Accounting
July 16 – late vendor invoices for 2017/2018 entered from NOLIJ to Banner July 23 – Close Fiscal Year 2017/2018 Happy New Year!

7 Special Notes & Helpful Hints
All goods/services must be received on, or before 5:00 June 29, 2018 in order to be recorded in 2017/2018 Travelling over June 30 – crossing both fiscal years? Record in next year – 2018/2019 Purchase Orders for 2018/2019 may be entered starting June 25, 2018 Please check NOLIJ batch daily Please check Approval Queues daily For June & July invoices, please include date received in Banner doctext Can write on invoice too (please also include in doctext)

8 Payroll Redistribution
Please send Payroll Redistribution requests to the Payroll Office no later than June 20th

9 Questions How can we help?

10 Thank you! Thank you for your help! We could not close the books without you!

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