Fiscal Year 2016 Year End Closing Action Plan end closing/Documents/FY16...FY 2016 Year End Closing Action Plan Page 1 of 13 Fiscal Year 2016 Year End Closing Action Plan TO: Financial Information System (FIS) Users FROM: Accounting Services SUBJECT: Year End Closing – FY 16 The ...

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  • FY 2016 Year End Closing Action Plan Page 1 of 13

    Fiscal Year 2016 Year End Closing Action Plan

    TO: Financial Information System (FIS) Users FROM: Accounting Services SUBJECT: Year End Closing FY 16

    The purpose of this action plan is to give FIS users key dates and other important year end information in order to ensure we have a successful year end closing. Accounting Services Team Members will be working with you to make sure documents are charged to the appropriate fiscal year. Old year and new year transactions can not be combined on a single document. Please read each document section that follows for the steps to take on documents at their cutoff dates. Go to your Worklist option in AIS to see all problem documents. Your Worklist should be reviewed daily. Following are the definitions of several terms used throughout this memo: Fiscal/Budget Year July 1 through June 30 Old Year / FY16 July 1, 2015 through June 30, 2016 New Year / FY17 July 1, 2016 through June 30, 2017 On-line Data entry from departmental personal computers Fully Approved No further approvals required on the document FIS Hours: Monday - Friday 7:00 a.m. to 9:00 p.m.

    Saturday 9:00 a.m. to 5:00 p.m. FIS Hours: On the last working day of the fiscal year (June 30, 2016), the system will come up at 7:00 a.m. All documents MUST BE ENTERED AND AWAITING ONLY CENTRAL AREA APPROVAL BY 5:00 p.m. Central area approvals will be completed by 6:00 p.m. FOCUS and Data Warehouse Notes: Normally, FIS transactions entered and fully approved on a weekday are not available in FOCUS and the Data Warehouse until the following day and transactions entered on Saturday are not available in FOCUS and the Data Warehouse until Tuesday. However, to facilitate the year-end close, all documents entered and fully approved on Saturday, June 25th, July 2nd, July 9th, July 16th, July 23rd and July 30th will be available for reporting in FOCUS and the Data Warehouse on Monday.

  • FY 2016 Year End Closing Action Plan Page 2 of 13

    Fiscal Year 2016Key Closing Dates

    section pertaining to the document you are processing. Specific times and dates that may apply to your situationmay not be consistent with the dates listed below.

    Cutoff AcceptanceDate for Date for

    Page Old Year New YearDocument/Function Type Number Documents Documents

    Lease Maintenance Purchase Orders 4 06/30/16 06/01/16Line Item Change Orders (CO) 4 06/23/16 07/01/16WUSTL Marketplace Purchase Orders 5 06/30/16 07/01/16

    Blanket Orders (BO) 5 06/19/16 06/01/16Blanket Order Change Orders (CO) 5 06/29/16 07/01/16Invoices against a Blanket Order 5 06/24/16 07/01/16

    A/P Free Balance Invoices 6 06/24/16 07/01/16

    Check Requests (CR) 6 06/24/16 06/01/16

    Travel Advances (TA) 6 06/10/16 06/01/16Travel Expense Reports (TR) 6 06/24/16 07/01/16

    Procurement Card (RP) 7 07/11/16 07/02/16Procurement Card (RP) Sweep - RP created dates 7 05/22/16 07/11/16

    Budget Adjustments (BA) - affecting salary, exp, lab allocations 7 06/10/16 06/01/16Budget Adjustments (BA) - LC 12, Medical School, Danforth Schools, Auxes 7 07/19/16 06/01/16Budget Adjustments (BA) - LC 12, CFU departments 7 07/19/16 06/01/16Budget Adjustments (BA) - LC 22 7 07/19/16 07/01/16

    Interdepartmental Free Balance ID's - Vending Dept. 7 06/30/16 07/01/16Interdepartmental Free Balance ID's - Ordering Dept. **5:00 p.m.** 8 07/06/16 07/01/16

    Receipt Vouchers (RV) 8 06/30/16 07/01/16Deposits - North Campus **by NOON** 8 06/30/16 ------Deposits (cash only) - North Campus **9:00 a.m.** 8 06/29/16 ------Deposits - Med School depositories **7:00 a.m.** 8 06/29/16 ------Deposits - Danforth Campus depository **5:00 p.m.** 8 06/29/16 ------Deposits - West Campus **9:00 a.m.** 8 06/29/16 ------Deposits - Bank Branches-including Mallinckrodt **by 2:00 p.m.** 8 06/30/16 ------Deposits - Scanned Remote Deposits **by 2:00 p.m.** 8 06/30/16 ------

    Journals (JR) - affecting salary, exp, lab allocations 9 06/10/16 07/01/16Journals (JR) - LC 2X **by 10:30 a.m.** 9 07/12/16 07/01/16Journals (JR) - LC52 - All Funds **by 5:00 p.m.** 9 06/27/16 07/01/16Journals (JR) - All other LC (except Asset Journals) **by 4:00 p.m.** 9 07/13/16 07/01/16

    Gifts (fully processed) **by NOON** 9 06/30/16 07/01/16

    Payroll Cost Transfers - LC 12 & 22 **by 5:00 p.m.** 10 07/01/16 ------

    Assets (Accrual journals, creations, and disposals) 10 07/01/16 07/01/16Assets (Purchase Orders) 10 06/30/16 07/01/16

    Accruals (Goods or Services Received in FY16) 11 07/06/16 ------

    Vacation Accrual process **by 5:00 p.m.** 12 07/08/16 ------

    Due to the specifics involved in the closing process for each document, it is strongly suggested that you read the

  • FY 2016 Year End Closing Action Plan Page 3 of 13

    Index of Accounting Services Contacts

    Note: Please read the pages referenced for detailed information on the subjects listed.

    Page # Contact Person Phone NumberPurchase Orders , Change Orders, Telephone Orders, 4 Bridget Stubbs (or your A/P Rep.) 5-5779and Open Encumbrance Carry Forwards bridget.stubbs@wustl.edu

    Blanket Orders 5 Chris Schaefer 5-4687c.schaefer@wustl.edu

    A/P Free Balance Invoices 6 Chris Schaefer 5-4687c.schaefer@wustl.edu

    Check Requests 6 Brandie Sale 5-4541brandie.sale@wustl.edu

    Travel Advances and Travel Expense Reports 6 Janice Bunselmeyer 5-5705janice.bunselmeyer@wustl.edu

    Procurement Card 7 Cindy Kinney 5-8640ckinney@wustl.eduKristi Garavaglia 5-5711kristen.garavaglia@wustl.edu

    Budget Adjustments 7 Bridget Stubbs 5-5779bridget.stubbs@wustl.edu

    Interdepartmental Free Balance ID's 8 Alan Mehringer 5-4036alan.mehringer@wustl.edu

    Receipt Vouchers and Deposits 8 Angie Werremeyer 5-5797angela.werremeyer@wustl.edu

    Journals 9 Bridget Stubbs 5-5779bridget.stubbs@wustl.edu

    Plant Funds/Ledger Class 52 9 Karl Norton 5-4388karl.norton@wustl.edu

    Gifts 9 Kris Chkautovich 5-5702kris.chkautovich@wustl.edu

    Payroll Items/Payroll Cost Transfers 10 Tina Miles 5-4789tina.miles@.wustl.edu

    New Year Payroll Sources 10 Laura Aldridge 5-5792laura.aldridge@wustl.edu

    Assets 10 Cindy Bugg 5-5618cindy.bugg@wustl.edu

    Accruals (Goods or Services Received in FY16) 11 Lisa Gibbs 5-5710lisa.gibbs@wustl.edu

    Sponsored Project Funds Krystina Gross 5-5793kgross@wustl.edu

    Liz Colletta 5-5757ecolletta@wustl.edu

  • FY 2016 Year End Closing Action Plan Page 4 of 13

    LEASE MAINTENANCE PURCHASE ORDERS, LINE ITEM CHANGE ORDERS (CO) and WUSTL MARKETPLACE PURCHASE

    ORDERS Old year purchase orders (excluding blanket orders) should be fully approved prior to 5:00 p.m. on Thursday, June 30th in order to encumber old year dollars. NOTE: Change orders are not available for use until after the last approval; therefore line item change orders should be fully approved prior to 4:00 p.m. on Thursday, June 23rd. Users should delete old year purchase orders and line item change orders not fully approved on June 30th or change them to new year documents. After 5:00 p.m. on Thursday, June 30th, all single account or mixed account LC12 and LC22 purchase orders (non blanket order purchase orders) not fully approved will be automatically changed from a FY16 document to a FY17 document and set to an incomplete status. The FIS user will be forced to re-save their document(s) to allow for approval. These documents will be in the users worklist. Purchase Orders with Invoices against them Invoices that are "matched" in the Accounts Payable system (invoice and/or receiving reports have been entered and fully approved) by June 30th will be processed as part of the Accounts Payable Accrual. A journal entry will be made systematically to reflect the expense on June 30th as an increase in old year actual and a decrease in old year open encumbrances. A reversing journal will be made on July 1st as an increase in new year open encumbrances and a decrease in new year actual. Please note that this journal will not be available for reviewing in the AISystem Document Inquiry option. "Uninvoiced" Purchase Orders less than 12 months old Open purchase order encumbrances (excluding blanket orders) that have no invoices against them and are less than twelve months old as of June 30th will be carried forward with the corresponding budget funds to pay them in the new year. For any purchase order less than twelve months old as of June 30th that you do not want to carry forward, a change order (CO) must be entered and fully approved by 4:00 p.m. on June 23rd in order for the encumbrance to be liquidated. "Uninvoiced" Purchase Orders greater than 12 months old Please carefully review your open encumbrance list found in Account Inquiry. Open purchase order encumbrances originating in FY15 will be liquidated on June 30th unless a written request that includes the PO#, vendor #, amount, and date is received by Kathy Anderson via email at k.anderson@wustl.edu by Friday, June 3rd . NOTE: Open purchase order encumbrances from FY14 or prior will not be carried forward. **New Year Lease Maintenance Purchase Orders** New year lease maintenance purchase orders may be input beginning Wednesday, June 1st. However, the corresponding administration number (PO number) will not be displayed in the AISystem Document Inquiry option until July 1st. New year change orders on new year purchase orders may be input beginning Friday, July 1st.

  • FY 2016 Year End Closing Action Plan Page 5 of 13

    WUSTL Marketplace Purchase Orders Marketplace documents that are fully approved (including the final approval in Purchasing) by end of business June 30 are included in the old fiscal year. Purchase requisitions created in Marketplace and intended for the new Fiscal Year cannot be submitted to AIS until July 1. After 5:00 p.m. on Thursday, June 30th, all single account or mixed account LC12 and LC22 purchase orders (non blanket order purchase orders) not fully approved will be automatically changed from a FY16 document to a FY17 document and set to an incomplete status. The FIS user will be forced to re-save their document(s) to allow for approval. These documents will be in the users worklist. Please contact Bridget Stubbs at 5-5779 or bridget.stubbs@wustl.edu with carry forward and approval related questions. Please contact your A/P Representative with any other questions concerning POs, TOs and COs. To find your A/P Representative, go to http://fishelp.wustl.edu and click on the Accounts Payable option in the list.

    BLANKET ORDERS (BO) & BO CHANGE ORDERS

    Blanket orders (ledger class 12s) do not extend beyond Thursday June 30th, and balances unexpended as of June 30th will NOT carry forward into the new year. The unexpended balances will be liquidated and returned to old year free balance. Change orders are not available for use until after the last approval; therefore change orders should be fully approved prior to 4:00 p.m. on Wednesday, June 29th. All invoices for blanket orders should be received in Accounts Payable by 5:00 p.m. on Friday, June 24th to be considered old year items. Blanket order invoices will be entered up until 5:00 p.m. on Thursday, June 30th so that they may potentially be approved and, therefore, be considered an expense of FY16. All invoices fully approved by 5:00 p.m. on June 30th will be considered expenses of FY16. Any invoices not fully approved by 5:00 p.m. on June 30th will become FY17 expenses with no corresponding budget funds carried forward to pay for them in the new year. After 5:00 p.m. on Thursday, June 30th, all FY16, LC12 blanket order purchase orders not fully approved will be automatically deleted. All LC22 single account blanket order purchase orders and mixed account LC12 and LC22 blanket order purchase orders not fully approved will be automatically changed from a FY16 document to a FY17 document and set to an incomplete status. The FIS user will be forced to re-save their document(s) to allow for approval. These documents will be in the users worklist. **New Year Blanket Orders** New year blanket orders can be entered beginning Wednesday, June 1st. However, the corresponding administration number (BO number) will not be displayed in the AISystem Document Inquiry option until July 1st. Change orders on new year blanket orders may be input beginning on Friday, July 1st. Please contact Chris Schaefer at 5-4687 or c.schaefer@wustl.edu with Blanket Order related questions.

  • FY 2016 Year End Closing Action Plan Page 6 of 13

    A/P FREE BALANCE INVOICES

    Old year free balance invoices for goods and services received by June 24th, for which no encumbrance exists, should be received by Accounts Payable and be fully approved by 5:00 p.m. on June 30th to be charged to the old year. Please contact Chris Schaefer at 5-4687 or c.schaefer@wustl.edu with free balance invoice related questions.

    CHECK REQUESTS (CR)

    Check requests for goods and services received by June 30th must be charged to the old year. Supporting documentation for old year check requests should be received in Accounts Payable by Friday, June 24th at 4:00 p.m., and should be fully approved as FY16 activity. Departments can continue to put FY16 check requests online for FY16 activity and AP will strive to approve. However, any FY16 check request not approved by Thursday, June 30th at 5:00 p.m. will automatically roll over to FY17 activity. Your assistance is requested in identifying old year items by marking FY16 in the upper right hand corner of any supporting documentation. Check requests not fully approved by 5:00 p.m. on June 30th will be automatically charged to the new year with no corresponding budget money carried forward to pay for them. NOTE: An accrual at the department level will be made for documents converted to the new year. New year check requests may be entered beginning Wednesday, June 1st for FY17 activity. Your assistance is requested in identifying new year items by marking FY17 in the upper right hand corner of any supporting documentation. Please contact Brandie Sale 5-4541 or brandie.sale@wustl.edu with check request related questions.

    TRAVEL ADVANCES (TA) & TRAVEL EXPENSE REPORTS (TR) Old year travel advances may be processed for any trip starting prior to July 1st, even though the trip may extend into the new year. The cutoff date for old year travel advances is Friday, June 10th. New year travel advances may be entered beginning Wednesday, June 1st and should be used for any trip beginning after June 30th. Supporting documentation for old year Travel Expense Reports should be received by Accounts Payable no later than Friday, June 24th at 4:00 p.m. Transactions that are not fully approved by 5:00 p.m. on June 30th will be automatically charged to the new year with no corresponding budget money carried forward to pay for them. NOTE: An accrual at the department level will be made for documents converted to the new year. Please contact Janice Bunselmeyer at 5-5705, jani...

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