YEAR END STRATEGIES APRIL 22, 2011 UNM FISCAL YEAR END:
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Transcript of YEAR END STRATEGIES APRIL 22, 2011 UNM FISCAL YEAR END:
YEAR END STRATEGIESAPRIL 22, 2011
UNM FISCAL YEAR END:
JUNE 30, 2011
STRATEGIES FOR A SMOOTH FINISH:
WATCHING THE DEADLINES
Find the schedule on the Financial Services Resources website: http://www.unm.edu/~fssc
Updates and changes will be posted to this site weekly
BASIC STRATEGIES:
• Reconcile your indices• Correct any errors
• Meet the Year End Deadlines:• Document Submission in Banner• Supporting Document Submission
• Follow your documents’ progress• Are they approved yet?
• Banner Cleanup:• Close unneeded purchase orders• Close unused indices
RECONCILE YOUR INDICES!
Monthly is best practice
Decreases year end journal vouchers
Saves you time
Correct errors each month
KEY DEPARTMENT DEADLINES:
Item Deadline
Comment
Requisitions 5/13 Greater than $20,000 completed
Requisitions 6/10 Between $5,001 and $20,000 completed
PHAREDS deleted
6/13 System purge for items at disposition 47 created BEFORE 5/1/11
Requisitions 6/17 <$5,000 completed
DPIs 6/30 Completed in Banner
DPIs 7/5 Documents received in Financial Services
Vendor Invoices
7/57/8
Approved and sent to AP for FY11 processingLast day for AP to cut checks for FY11
KEY DEPARTMENT DEADLINES:
Item Deadline
Comment
Index Terminations
6/9 Can submit between 5/22 and 6/9
PO Change orders
6/29 Must be completed to prevent roll forward
NSAR 6/30 Data entry by departments by noon All sessions must be closed to invoice
KEY DEPARTMENT DEADLINES:Item Deadlin
eComment
Journal Vouchers 7/6 Must be through all department approval queuesDepartments locked out of JV forms in Banner/Self-Service at 5:01
PHAREDS 7/6 Submitted and at disposition 48 in order to be reviewed and processed in FY11Departments locked out of Banner form PHAREDS and Self-Service Labor Redistribution at 5:01
Material Journal Vouchers
7/8 Need to coordinate with appropriate Financial Services office
Final PCard Transactions
7/77/11
Transactions loaded into BannerReallocation of transactions that occurred on or before June 30 must be completed by 5:00
ARE THEY APPROVED YET?
Follow your documents’ progress
PHAREDS – Complete your PHAREDS – Eprint report PZROLRO to see pending View progress in routing queue in Self Service PHAREDS must be approved – contact your “on the fly” approvers
DPIs/Requisitions/JVs –
Check progress in approval queue - FOAAINP
Check for items returned for correction – GUAMESG
Remember to do SPQs for service related requisitions
DPIs
• Due to increased volume, processing can take more time
• Submit as early as possible
• Documents disapproved after
6/30 are re-dated to the new
fiscal year when corrected
JOURNAL VOUCHERS Journal Vouchers for the fiscal year ending 6/30/11 must be
dated 6/30/11
The default date is “today”
Or they will not post in the year you intended!
Journal vouchers fomrs will be disabled on Tuesday, July 6th at 5:00 pm
Departments can create JVs on Monday, July 18th
Change the date to 6/30/11
PURCHASE ORDERS
Close the ones you no longer need The small ones do not all get closed at year end When you try to close an index open POs or Reqs will prevent closure Prevent future NSF issues
EMPLOYEE PERSONNEL ACTION FORMS (EPAF)
Once the FY 12 budget and Salary Planner (mass salary update) is loaded into Banner, EPAFS that affect periods before 7/1/11 cannot be processed without assistance from your Employment Data Center of the HRPR Support Center.
If you receive an error when attempting to change an FY11 labor distribution prior to July 1st, contact your EDC or the HRPR Support Center at 277-HRPR (4777) for assistance.
UNIVERSITY HOSPITAL
All invoices to UH must go through NSAR Contact Stacie Hurley for assistance (272-5460)
There will be an three NSAR billing cycle in June to accommodate department needs 6/10 6/20 6/30
Must be within 90 days of service
UH Invoices to be uploaded on 7/7
The items we don’t know about can cause problems!
AFTER 6/30/11: (But before close)
Final Index Reconciliation Watch for new (unexpected) entries! Ask NOW, not after close
Accruals If it absolutely, positively has to be there Catastrophic Leave Annual Leave
Day Date Time Place Topic
IN SUMMARY:
You will finish strong if:
Indices are reconciled monthly
Deadlines are carefully followed
Documents are followed through to completion